Europe Management Consulting Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 74.68 Billion |
| Market Size (2029) | USD 100.21 Billion |
| CAGR (2024 - 2029) | 6.06 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Europe Management Consulting Services Market Analysis
The Europe Management Consulting Services Market size is estimated at USD 74.68 billion in 2024, and is expected to reach USD 100.21 billion by 2029, growing at a CAGR of 6.06% during the forecast period (2024-2029).
With the highly dynamic nature of several European industries and markets, especially after the COVID-19 pandemic, companies prefer to consult management consulting firms for a deeper and more assured insight into the markets and other purposes to ensure well-thought and data-backed decisions.
- Management consulting firms provide services that help organizations improve their efficiency. The firms analyze the operations and understand the existing organizational inefficiencies ranging from the high cost of raw materials to HR policies. The company utilizes its expertise to create a strategy for effectively addressing all the challenges. Due to increased competition across various industries, profit margins are decreasing. One of the most effective ways to boost profits is by enhancing organizational performance.
- Many companies constantly try to reduce costs and increase efficiency to transfer the saved expenses to the customer and withstand the intense competition they face. This leads to increased demand for business process improvisations and consulting related to operational efficiency. Regulatory changes, such as Brexit and the EU General Data Protection Regulation (GDPR), have increased demand for consulting across all major service lines. Multinational organizations seek high-value advice to comply with regulations, boosting the demand for management consulting services.
- In the general management consulting category, consulting firms assist with projects that require setting strategic direction, pricing of products, and merger and acquisition strategy. With the organization's growth, they need experts to address challenges and help them channel energy toward growth and expansion initiatives. Consultants spend lots of time understanding the business requirements and providing tailored operations and financial engineering strategies.
- Management consulting companies face an increasingly complex macro-environment in which they must continue providing the best advice. To simplify the process, firms deliver projects with subcontractors, partner companies, and independents. Hence, providing the project faster, more efficiently, and with tighter budgets while achieving customer satisfaction is challenging. Moreover, increasing client demand for more value, higher-quality service, and faster delivery of solutions and services in a more agile environment fueled by rapid innovation hinder market growth.
- The post-COVID-19 pandemic allowed many consulting firms to look after their supply chain processes. Organizations' curiosity to optimize the operations to bridge the gap in the supply chain after the pandemic was a chief motivational factor for them to refer to these management consulting services. For instance, in February 2021, Scotland's health service awarded a contract worth more than GBP 2 million (USD 2.58 million) to KPMG for management and advisory services for the nation's COVID-19 vaccine program.
Europe Management Consulting Services Market Trends
The Financial Consulting Segment is Expected to Witness Major Growth
- Management consulting is a crucial part of business since it allows firms to leverage consulting services for performance, efficiency, and profitability. The main solutions cover strategy across operations, finance, and human resources for businesses, organizations, and governments. Operations consulting services enhance financial efficiency. Consultancy activities in this segment vary from advisory services to hands-on implementation support for functions (e.g., corporate finance, divestments, and mergers and acquisition advisory).
- Companies require guidance in accounting, finance, insurance, and other aspects of finance. Firms deploy financial consultants to manage their investments, property holdings, and long-term financial strategies. Solutions are generally provided around risk management, government regulations, and the long-term viability of investment projects. Consultants analyze the risks and rewards of every investment proposal with the vision of maximizing the return on investment.
- Management consulting in Europe is fueled by many factors, which include technological advancement and the growing demand for business analytics. With the rise of adopting cloud computing services across industries, organizations want to leverage scalability, flexibility, and cost efficiency by deploying cloud platforms for IT infrastructure and applications. Management consulting services help organizations opt for the right strategy, which is beneficial as per the diverse needs of each organization.
- Finance organizations are growing and leveraging AI and ML, which can support them in accounting processes to investigate data, detect risks, and focus on cost efficiencies. Artificial intelligence and ML are transforming technologies, and every organization needs to invest to achieve outcomes. Generally, consulting firms can guide the organization in deploying technologies across the healthcare, finance, retail, and manufacturing industries. They can ensure the automation of non-necessary tasks and focus more on important organizational tasks.
- According to FEACO, the European panel management consulting turnover has increased at an average rate of 12.2%, higher than the country's respective GDP. Moreover, in the United Kingdom, Denmark, and Greece, the management consulting industry has performed better than its respective economies, at 17.2%, 18%, and 18.7%, respectively. This signifies the growing need for consulting services to solve firms' complex business problems.
The DACH Region to Hold the Largest Market Share
- The countries under the DACH region include Germany (D), Austria (A), and Switzerland (CH). These countries have many consulting firms, including well-known international consultancies and local specialists. Some prominent consulting firms include Bain & Company, Kearney, McKinsey & Company, Boston Consulting Group, Alvarez & Marsal, Cordence Worldwide, Nextcontinent, and Nexe.
- These consulting firms advise and support their clients across any conceivable sector and area of expertise, meaning that companies in the private and public sectors face an enormous pool of consultants to choose from for their required services.
- Several consulting firms are getting bigger by opening offices in the area and buying other consulting firms to grow their services and presence there. As per data from the Feaco Survey, European panel management consulting employment increased on average by 7.0% during 2021 -2023. It experienced growth in management consulting employment CAGR in Italy, Denmark, the United Kingdom, and Greece at 11.5%, 14%, and 15%, respectively.
- The firms invest in strategic moves to diversify their portfolio and focus on expansion by deploying mergers and acquisition strategies. For instance, in December 2023, Elixirr announced the acquisition of Insigniam, a global consulting firm. This collaboration focussed on expanding the range of services for the clients, which enables Elixirr to partner with C-suite executives to build and implement a fit-for-21st-century agenda aligned to the client's customized needs.
- Moreover, there is a growing demand for operations management consulting due to the need to streamline supply chain and logistics procedures. Management consultants provide their expertise to organizations by helping them design new pricing strategies, sourcing key inputs, and heavily investing in sales execution for better profitability.
Europe Management Consulting Services Industry Overview
The European management consulting services market is moderately fragmented, with local and international players having decades of industry experience. The vendors are incorporating a powerful competitive strategy by leveraging their expertise and spending significantly on advertising. Quality certification, service offerings, costs, and technical capabilities are important factors for attracting new contracts in the market. Overall, the intensity of the competitive rivalry is high in the market, and it is expected to remain the same during the forecast period.
- December 2023: EY announced a collaboration with Appian, a low-code and process automation firm, to accelerate the support to businesses in digital transformation. This joint alliance enabled companies to modernize and simplify procedures by leveraging AI, low-code, process automation, and data fabric.
- May 2023: Deloitte and Google Cloud declared an expansion of their long-term partnership to ensure Google Cloud鈥檚 advanced Generative AI capabilities are facilitated in every industry. Deloitte transverses the landscape of Generative AI practice to scale solutions capabilities by meeting the growing demand for Google Cloud鈥檚 Generative AI capabilities, which can help solve business challenges using AI technologies.
Europe Management Consulting Market Leaders
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Deloitte Touche Tohmatsu LLP
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Ernst & Young Global Limited
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Boston Consulting Group
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PricewaterhouseCoopers LLP
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KPMG International Limited
*Disclaimer: Major Players sorted in no particular order
Europe Management Consulting Market News
- March 2024: Accenture declared the acquisition of Flo Group, a European consultancy and Oracle business partner with expertise in supply chain logistics. This alliance is fueled by Accenture鈥檚 Oracle capabilities in Europe to facilitate clients' design of agile and resilient supply chains for end-to-end visibility. Flo has expertise in various industries, including retail, automotive, consumer goods, manufacturing, mining, energy, chemicals, and government, and will deploy Accenture capabilities for more business growth.
- March 2024: Cambridge Management Consulting, Europe鈥檚 management consultancy, partnered with Cybervalue, a Belgium cyber security practitioner. This alliance aims to integrate management and business advisory experience with Cybervalue鈥檚 experts to maximize profitability by providing cybersecurity strategies to clients and customers.
Europe Management Consulting Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of the Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Adoption of Advanced Data Management Strategies
5.1.2 Growing Investment in Emerging Analytical Solutions
5.2 Market Challenges
5.2.1 Project Complexities and Shift in Consulting Marketplace
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 HR Consulting
6.1.2 Strategy Consulting
6.1.3 Operations Consulting
6.2 By End-user Industry
6.2.1 IT and Telecommunication
6.2.2 Manufacturing
6.2.3 Energy
6.2.4 Public Sector
6.2.5 Retail
6.2.6 Healthcare
6.2.7 Other Applications
6.3 By Geography***
6.3.1 Germany
6.3.2 Austria
6.3.3 Switzerland
6.3.4 United Kingdom
6.3.5 Ireland
6.3.6 France
6.3.7 Belgium
6.3.8 Netherlands
6.3.9 Luxembourg
6.3.10 Sweden
6.3.11 Norway
6.3.12 Denmark
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Deloitte Touche Tohmatsu LLP
7.1.2 Ernst & Young Global Limited
7.1.3 KPMG International Limited
7.1.4 Boston Consulting Group
7.1.5 PricewaterhouseCoopers LLP
7.1.6 McKinsey & Company
7.1.7 A.T. Kearney Inc.
7.1.8 Booz Allen Hamilton Inc.
7.1.9 Bain & Company Inc.
7.1.10 Accenture PLC
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Europe Management Consulting Services Industry Segmentation
Management consulting firms assist organizations in increasing their efficiency. The firms examine operations and determine existing organizational inefficiencies, which include several factors, like high raw material costs and HR policies. The study tracks revenue generation through vendor offerings of various consulting services among users.
The European management consulting services market is segmented by type (HR consulting, strategy consulting, and operations consulting) and application (IT and telecommunication, manufacturing, energy, healthcare, public sector, retail, and healthcare). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| HR Consulting | |
| Strategy Consulting | |
| Operations Consulting |
| By End-user Industry | |
| IT and Telecommunication | |
| Manufacturing | |
| Energy | |
| Public Sector | |
| Retail | |
| Healthcare | |
| Other Applications |
| By Geography*** | |
| Germany | |
| Austria | |
| Switzerland | |
| United Kingdom | |
| Ireland | |
| France | |
| Belgium | |
| Netherlands | |
| Luxembourg | |
| Sweden | |
| Norway | |
| Denmark |
Europe Management Consulting Market Research FAQs
How big is the Europe Management Consulting Services Market?
The Europe Management Consulting Services Market size is expected to reach USD 74.68 billion in 2024 and grow at a CAGR of 6.06% to reach USD 100.21 billion by 2029.
What is the current Europe Management Consulting Services Market size?
In 2024, the Europe Management Consulting Services Market size is expected to reach USD 74.68 billion.
Who are the key players in Europe Management Consulting Services Market?
Deloitte Touche Tohmatsu LLP, Ernst & Young Global Limited, Boston Consulting Group, PricewaterhouseCoopers LLP and KPMG International Limited are the major companies operating in the Europe Management Consulting Services Market.
What years does this Europe Management Consulting Services Market cover, and what was the market size in 2023?
In 2023, the Europe Management Consulting Services Market size was estimated at USD 70.15 billion. The report covers the Europe Management Consulting Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Management Consulting Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Management Consulting Industry Report
Statistics for the 2024 Europe Management Consulting market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Europe Management Consulting analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
