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Global consulting services industry - statistics & facts

The consulting services sector has expanded at a relatively fast pace in the last several years, with North America and Europe representing the largest regional markets worldwide. There are numerous reasons as to why organizations hire consultants, with seeking advice on how to overcome challenges and improve business performance always being near the top of the list. The steady growth of this industry proves that companies need external consultants with strategic knowledge about business administration, business development, as well as expertise about the industry in which clients operate. Last but not least, technological developments, ever changing market dynamics, and emerging consumer trends require businesses to be prepared for adversity. Such unexpected challenges can bring newly emerging problems without external and specialized support, even for the brightest and most successful entrepreneurs.

The American consulting market

North America, and in particular the United States, is home to the largest consulting services market worldwide. The management consulting market size in the United States was valued at approximately 239 billion U.S. dollars in 2022. It therefore should come as no surprise that the United States is home to some of the most prestigious and successful consulting services companies across the world. The so-called Big Four - Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and KPMG - have become household names in recent years. These companies boast steadily growing revenue streams and operate in nearly all countries worldwide, where they employ thousands of consultants.

Pandemic proof?

The impact of the coronavirus (COVID-19) pandemic appears not to have spared the consulting services sector. Like many other industries not classed as so-called essential services, the consulting industry is estimated to have suffered significant losses across all markets and industry segments in 2020, however the market was already looking considerably better in 2021. Despite this, concerns about the future among consulting companies worldwide appear to be more related to a lack of talent availability in addition to fierce competition in the sector from both incumbents and new players.

Interesting statistics

In the following 5 chapters, you will quickly find the 36 most important statistics relating to "Global consulting services industry".

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