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Size of management consulting market worldwide 2014-2025

Size of global management consulting market from 2014 to 2025 (in billion U.S. dollars)

by E. Mazareanu, last edited Sep 20, 2019
Size of management consulting market worldwide 2014-2025 This statistic presents the size of global management consulting market from 2014 to 2018 and gives a forecast for 2019 through 2025. The global management consulting market reached 274.86 billion U.S. dollars in 2018 and it is expected to grow to 284.56 billion U.S. dollars in 2019.

Management consulting market – additional information

Management Consulting is the industry and practice of helping organizations improve their performance by analyzing existing problems and development plans for improvement. Organizations hire management consulting firms to gain external advice or when they need specialized expertise and services which are offered by consultants include strategy, operations, financial advisory, human resources and internet technology. The largest markets for consulting services include operations and financial advising, more than double the human resources and strategy markets. However, all the management consulting markets are seeing average growth each year.

In 2018, the top consulting firms in the United States by prestige rating were McKinsey & Company, followed by the Boston Consulting Group and Bain and Company. McKinsey & Company also was ranked as the best employer to work for in 2018. The Boston Consulting Group came second, followed by Bain & Company.

The number of people employed in management consulting in the United States has grown annually over the past five years and in 2018 there were around 684,470 management consultants employed in the U.S. Despite the increasing number of consultants, finding and keeping good employees was one of the leading business challenges for management consulting firms in 2017. The most pressing issue for companies was, by far, attracting and developing new businesses, with 79 percent of senior managers citing this a leading challenge.
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Size of global management consulting market from 2014 to 2025 (in billion U.S. dollars)

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