U.S. Management Consulting Market
Description
U.S. Management Consulting Market
The U.S. management consulting market was valued at $141,360.00 million in 2023 and is projected to reach $279,103.94 million by 2033, growing at a CAGR of 6.9% from 2024 to 2033.
Management consulting is a professional practice of providing expert suggestions to organizations that help them improve their performance in the industry, solve complex problems, and achieve their goals. Management consulting firms utilize a combination of industry knowledge, problem-solving techniques, & analytical tools to diagnose issues within an organization and recommend solutions accordingly. Owing to increasing competition across different sectors, the challenges for businesses are evolving, which maintains a strong demand for management consulting services.
Exponential growth in the U.S. economy has led to the expansion of different industries, including technology, manufacturing, finance, and healthcare. This expansion has resulted in enhanced strategic and regulatory challenges for businesses, thereby driving the growth of the U.S. management consulting market. In addition, as industries are adopting advanced digital technologies to streamline their operations and increase their revenue generation, the role of management consultants in facilitating digital transformation has become crucial. Currently, ethics and sustainability have become prominent trends in management consulting services as the firms are now focusing on guiding businesses regarding the adoption of eco-friendly practices that benefit the environment and offer long-term cost savings.
However, the emergence of several consulting firms has resulted in intense competition, pricing pressures, and low profit margins, which have hampered the development of the U.S. management consulting market. Moreover, shortage of skilled professionals has increased labor costs, placing a financial burden on consulting firms and restraining the market growth notably. On the contrary, increase in the frequency of cyberattacks and data breaches is poised to open new avenues for the U.S. management consulting market. According to Microsoft—an American technology conglomerate—46% of the total cyberattacks in 2020 occurred in the U.S., which was more than double in comparison to other countries. Therefore, rise in the incidence of cyberattacks has highlighted the importance of management consulting firms as they guide businesses in securing sensitive information, implementing robust security measures, and ensuring compliance with data privacy regulations.
Segment Review
The U.S. management consulting market is segmented into service type, organization size, and industry vertical. By service type, it is divided into enterprise strategy, front office consulting, finance & accounting consulting, cloud engineering data & analytics, cyber risk & reg, operations consulting, workforce consulting, deals, and others. Depending on organization size, it is bifurcated into large enterprises and small & medium enterprises (SMEs). As per industry vertical, it is classified into banking & capital; consumer; energy & utilities; energy utilities resources; industrial products; insurance; health services; pharmaceutical & life science; technology, media & telecommunications; and others. As per buyer, it is classified into c-suite executives; directors; managers; and presidents.
Key Findings:
By service type, the enterprise strategy segment acquired a notable stake in the market in 2023.
Depending on organization size, the large enterprises segment dominated the market in 2023.
As per industry vertical, the others segment was the highest shareholder in the market in 2023.
As per buyer, the c-suite executives segment was the highest shareholder in the market in 2023.
Competitive Analysis
The market players operating in the U.S. management consulting market are Accenture, Deloitte Touche Tohmatsu Limited, KPMG International, McKinsey & Company, Boston Consulting Group, Bain & Company, AT Kearney, Oliver Wyman Inc., PWC, Ernst & Young Global Limited (EY), Capgemini, L.E.K. Consulting, Roland Berger GmbH, AlixPartners, LLP, Guidehouse, FTI Consulting, Inc., Grant Thornton International Ltd., Zinnov, TATA Consultancy Services Limited, and Huron Consulting Group Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market. The research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
The U.S. management consulting market was valued at $141,360.00 million in 2023 and is projected to reach $279,103.94 million by 2033, growing at a CAGR of 6.9% from 2024 to 2033.
Management consulting is a professional practice of providing expert suggestions to organizations that help them improve their performance in the industry, solve complex problems, and achieve their goals. Management consulting firms utilize a combination of industry knowledge, problem-solving techniques, & analytical tools to diagnose issues within an organization and recommend solutions accordingly. Owing to increasing competition across different sectors, the challenges for businesses are evolving, which maintains a strong demand for management consulting services.
Exponential growth in the U.S. economy has led to the expansion of different industries, including technology, manufacturing, finance, and healthcare. This expansion has resulted in enhanced strategic and regulatory challenges for businesses, thereby driving the growth of the U.S. management consulting market. In addition, as industries are adopting advanced digital technologies to streamline their operations and increase their revenue generation, the role of management consultants in facilitating digital transformation has become crucial. Currently, ethics and sustainability have become prominent trends in management consulting services as the firms are now focusing on guiding businesses regarding the adoption of eco-friendly practices that benefit the environment and offer long-term cost savings.
However, the emergence of several consulting firms has resulted in intense competition, pricing pressures, and low profit margins, which have hampered the development of the U.S. management consulting market. Moreover, shortage of skilled professionals has increased labor costs, placing a financial burden on consulting firms and restraining the market growth notably. On the contrary, increase in the frequency of cyberattacks and data breaches is poised to open new avenues for the U.S. management consulting market. According to Microsoft—an American technology conglomerate—46% of the total cyberattacks in 2020 occurred in the U.S., which was more than double in comparison to other countries. Therefore, rise in the incidence of cyberattacks has highlighted the importance of management consulting firms as they guide businesses in securing sensitive information, implementing robust security measures, and ensuring compliance with data privacy regulations.
Segment Review
The U.S. management consulting market is segmented into service type, organization size, and industry vertical. By service type, it is divided into enterprise strategy, front office consulting, finance & accounting consulting, cloud engineering data & analytics, cyber risk & reg, operations consulting, workforce consulting, deals, and others. Depending on organization size, it is bifurcated into large enterprises and small & medium enterprises (SMEs). As per industry vertical, it is classified into banking & capital; consumer; energy & utilities; energy utilities resources; industrial products; insurance; health services; pharmaceutical & life science; technology, media & telecommunications; and others. As per buyer, it is classified into c-suite executives; directors; managers; and presidents.
Key Findings:
By service type, the enterprise strategy segment acquired a notable stake in the market in 2023.
Depending on organization size, the large enterprises segment dominated the market in 2023.
As per industry vertical, the others segment was the highest shareholder in the market in 2023.
As per buyer, the c-suite executives segment was the highest shareholder in the market in 2023.
Competitive Analysis
The market players operating in the U.S. management consulting market are Accenture, Deloitte Touche Tohmatsu Limited, KPMG International, McKinsey & Company, Boston Consulting Group, Bain & Company, AT Kearney, Oliver Wyman Inc., PWC, Ernst & Young Global Limited (EY), Capgemini, L.E.K. Consulting, Roland Berger GmbH, AlixPartners, LLP, Guidehouse, FTI Consulting, Inc., Grant Thornton International Ltd., Zinnov, TATA Consultancy Services Limited, and Huron Consulting Group Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market. The research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Table of Contents
255 Pages
- Chapter 1: Introduction
- 1.1. Report description
- 1.2. Key benefits for stakeholders
- 1.3. Key market segments
- 1.4. Research methodology
- 1.4.1. Secondary research
- 1.4.2. Primary research
- 1.4.3. Analyst tools & models
- Chapter 2: Executive summary
- 2.1. Key findings
- 2.1.1. Top impacting factors
- 2.1.2. Top investment pockets
- 2.2. CXO perspective
- Chapter 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key forces shaping the U.S. management consulting market
- 3.3. Market dynamics
- 3.3.1. Drivers
- 3.3.1.1. Proliferation of digital-driving business models
- 3.3.1.2. Growth in focus on risk sharing through strategic partnerships and M&A recommendations
- 3.3.2. Restraints
- 3.3.2.1. Security concerns and data privacy issues associated with online consulting
- 3.3.2.2. Presence of huge alternatives related to management consulting service type
- 3.3.3. Opportunity
- 3.3.3.1. Rise in technology integration in consulting service type
- 3.4. Technology Landscape
- Chapter 4: U.S. management consulting Market, By service type
- 4.1. Overview
- 4.2. Enterprise Strategy
- 4.2.1. Key market trends, growth factors, and opportunities
- 4.2.2. Market size and forecast
- 4.2.2.1. CEO
- 4.2.2.1.1. Market size and forecast
- 4.2.2.2. President
- 4.2.2.2.1. Market size and forecast
- 4.2.2.3. COO
- 4.2.2.3.1. Market size and forecast
- 4.2.2.4. CMO
- 4.2.2.4.1. Market size and forecast
- 4.2.2.5. CTO
- 4.2.2.5.1. Market size and forecast
- 4.2.2.6. CFO
- 4.2.2.6.1. Market size and forecast
- 4.2.2.7. Others
- 4.2.2.7.1. Market size and forecast
- 4.3. Front Office Consulting
- 4.3.1. Key market trends, growth factors, and opportunities
- 4.3.2. Market size and forecast
- 4.3.2.1. CEO
- 4.3.2.1.1. Market size and forecast
- 4.3.2.2. President
- 4.3.2.2.1. Market size and forecast
- 4.3.2.3. COO
- 4.3.2.3.1. Market size and forecast
- 4.3.2.4. CMO
- 4.3.2.4.1. Market size and forecast
- 4.3.2.5. CCO
- 4.3.2.5.1. Market size and forecast
- 4.3.2.6. CTO
- 4.3.2.6.1. Market size and forecast
- 4.3.2.7. Others
- 4.3.2.7.1. Market size and forecast
- 4.4. Finance And Accounting Consulting
- 4.4.1. Key market trends, growth factors, and opportunities
- 4.4.2. Market size and forecast
- 4.4.2.1. CEO
- 4.4.2.1.1. Market size and forecast
- 4.4.2.2. CFO
- 4.4.2.2.1. Market size and forecast
- 4.5. Cloud, Engineering, Data and Analytics
- 4.5.1. Key market trends, growth factors, and opportunities
- 4.5.2. Market size and forecast
- 4.5.2.1. CEO
- 4.5.2.1.1. Market size and forecast
- 4.5.2.2. CTO
- 4.5.2.2.1. Market size and forecast
- 4.5.2.3. Others
- 4.5.2.3.1. Market size and forecast
- 4.6. Cyber, Risk, and Reg
- 4.6.1. Key market trends, growth factors, and opportunities
- 4.6.2. Market size and forecast
- 4.6.2.1. CEO
- 4.6.2.1.1. Market size and forecast
- 4.6.2.2. CTO
- 4.6.2.2.1. Market size and forecast
- 4.6.2.3. CFO
- 4.6.2.3.1. Market size and forecast
- 4.6.2.4. Others
- 4.6.2.4.1. Market size and forecast
- 4.7. Operations Consulting
- 4.7.1. Key market trends, growth factors, and opportunities
- 4.7.2. Market size and forecast
- 4.7.2.1. CEO
- 4.7.2.1.1. Market size and forecast
- 4.7.2.2. President
- 4.7.2.2.1. Market size and forecast
- 4.7.2.3. COO
- 4.7.2.3.1. Market size and forecast
- 4.7.2.4. CFO
- 4.7.2.4.1. Market size and forecast
- 4.7.2.5. Others
- 4.7.2.5.1. Market size and forecast
- 4.8. Workforce Consulting
- 4.8.1. Key market trends, growth factors, and opportunities
- 4.8.2. Market size and forecast
- 4.8.2.1. CEO
- 4.8.2.1.1. Market size and forecast
- 4.8.2.2. President
- 4.8.2.2.1. Market size and forecast
- 4.8.2.3. COO
- 4.8.2.3.1. Market size and forecast
- 4.8.2.4. CMO
- 4.8.2.4.1. Market size and forecast
- 4.8.2.5. CHRO
- 4.8.2.5.1. Market size and forecast
- 4.8.2.6. Others
- 4.8.2.6.1. Market size and forecast
- 4.9. Deals
- 4.9.1. Key market trends, growth factors, and opportunities
- 4.9.2. Market size and forecast
- 4.9.2.1. CEO
- 4.9.2.1.1. Market size and forecast
- 4.9.2.2. President
- 4.9.2.2.1. Market size and forecast
- 4.9.2.3. CTO
- 4.9.2.3.1. Market size and forecast
- 4.9.2.4. CFO
- 4.9.2.4.1. Market size and forecast
- 4.9.2.5. Others
- 4.9.2.5.1. Market size and forecast
- 4.10. Others
- 4.10.1. Key market trends, growth factors, and opportunities
- 4.10.2. Market size and forecast
- Chapter 5: U.S. management consulting Market, By organization size
- 5.1. Overview
- 5.2. Large Enterprises
- 5.2.1. Key market trends, growth factors, and opportunities
- 5.2.2. Market size and forecast
- 5.3. Small and Medium-sized Enterprises
- 5.3.1. Key market trends, growth factors, and opportunities
- 5.3.2. Market size and forecast
- Chapter 6: U.S. management consulting Market, By Industry vertical
- 6.1. Overview
- 6.2. Banking and Capital
- 6.2.1. Key market trends, growth factors, and opportunities
- 6.2.2. Market size and forecast
- 6.3. Consumer
- 6.3.1. Key market trends, growth factors, and opportunities
- 6.3.2. Market size and forecast
- 6.4. Energy and Utilities
- 6.4.1. Key market trends, growth factors, and opportunities
- 6.4.2. Market size and forecast
- 6.5. Energy Utilities Resources
- 6.5.1. Key market trends, growth factors, and opportunities
- 6.5.2. Market size and forecast
- 6.6. Industrial Products
- 6.6.1. Key market trends, growth factors, and opportunities
- 6.6.2. Market size and forecast
- 6.7. Insurance
- 6.7.1. Key market trends, growth factors, and opportunities
- 6.7.2. Market size and forecast
- 6.8. Health Services
- 6.8.1. Key market trends, growth factors, and opportunities
- 6.8.2. Market size and forecast
- 6.9. Pharmaceuticals and Life Sciences
- 6.9.1. Key market trends, growth factors, and opportunities
- 6.9.2. Market size and forecast
- 6.10. Technology, Media, and Telecommunications
- 6.10.1. Key market trends, growth factors, and opportunities
- 6.10.2. Market size and forecast
- 6.11. Others
- 6.11.1. Key market trends, growth factors, and opportunities
- 6.11.2. Market size and forecast
- Chapter 7: U.S. management consulting Market, By buyers
- 7.1. Overview
- 7.2. C-suite Executives
- 7.2.1. Key market trends, growth factors, and opportunities
- 7.2.2. Market size and forecast
- 7.2.2.1. CEO
- 7.2.2.1.1. Market size and forecast
- 7.2.2.2. COO
- 7.2.2.2.1. Market size and forecast
- 7.2.2.3. CMO
- 7.2.2.3.1. Market size and forecast
- 7.2.2.4. CFO
- 7.2.2.4.1. Market size and forecast
- 7.2.2.5. CTO
- 7.2.2.5.1. Market size and forecast
- 7.2.2.6. CHRO
- 7.2.2.6.1. Market size and forecast
- 7.2.2.7. CCO
- 7.2.2.7.1. Market size and forecast
- 7.2.2.8. Others
- 7.2.2.8.1. Market size and forecast
- 7.3. Directors
- 7.3.1. Key market trends, growth factors, and opportunities
- 7.3.2. Market size and forecast
- 7.4. Managers
- 7.4.1. Key market trends, growth factors, and opportunities
- 7.4.2. Market size and forecast
- 7.5. President
- 7.5.1. Key market trends, growth factors, and opportunities
- 7.5.2. Market size and forecast
- Chapter 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Competitive dashboard
- Chapter 9: Company Profile
- 9.1. ACCENTURE
- 9.1.1. Company overview
- 9.1.2. Company snapshot
- 9.1.3. Operating business segments
- 9.1.4. Product portfolio
- 9.1.5. Business performance
- 9.2. DELOITTE TOUCHE TOHMATSU LIMITED
- 9.2.1. Company overview
- 9.2.2. Company snapshot
- 9.2.3. Operating business segments
- 9.2.4. Product portfolio
- 9.2.5. Business performance
- 9.3. KPMG INTERNATIONAL
- 9.3.1. Company overview
- 9.3.2. Company snapshot
- 9.3.3. Product portfolio
- 9.3.4. Business performance
- 9.3.5. Key strategic moves and developments
- 9.4. MCKINSEY AND COMPANY
- 9.4.1. Company overview
- 9.4.2. Company snapshot
- 9.4.3. Product portfolio
- 9.5. BOSTON CONSULTING GROUP
- 9.5.1. Company overview
- 9.5.2. Company snapshot
- 9.5.3. Product portfolio
- 9.6. BAIN AND COMPANY, INC.
- 9.6.1. Company overview
- 9.6.2. Company snapshot
- 9.6.3. Product portfolio
- 9.7. AT KEARNEY
- 9.7.1. Company overview
- 9.7.2. Company snapshot
- 9.7.3. Product portfolio
- 9.8. OLIVER WYMAN INC.
- 9.8.1. Company overview
- 9.8.2. Company snapshot
- 9.8.3. Product portfolio
- 9.9. PWC
- 9.9.1. Company overview
- 9.9.2. Company snapshot
- 9.9.3. Product portfolio
- 9.9.4. Business performance
- 9.10. ERNST & YOUNG GLOBAL LIMITED (EY)
- 9.10.1. Company overview
- 9.10.2. Company snapshot
- 9.10.3. Operating business segments
- 9.10.4. Product portfolio
- 9.10.5. Business performance
- 9.11. CAPGEMINI
- 9.11.1. Company overview
- 9.11.2. Product portfolio
- 9.11.3. Business performance
- 9.12. L.E.K. CONSULTING
- 9.12.1. Company overview
- 9.12.2. Company snapshot
- 9.12.3. Product portfolio
- 9.13. ROLAND BERGER GmbH
- 9.13.1. Company overview
- 9.13.2. Company snapshot
- 9.13.3. Product portfolio
- 9.14. ALIXPARTNERS, LLP
- 9.14.1. Company overview
- 9.14.2. Company snapshot
- 9.14.3. Product portfolio
- 9.14.4. Business performance
- 9.15. GUIDEHOUSE
- 9.15.1. Company overview
- 9.15.2. Company snapshot
- 9.15.3. Product portfolio
- 9.15.4. Key strategic moves and developments
- 9.16. FTI CONSULTING, INC.
- 9.16.1. Company overview
- 9.16.2. Company snapshot
- 9.16.3. Operating business segments
- 9.16.4. Product portfolio
- 9.16.5. Business performance
- 9.16.6. Key strategic moves and developments
- 9.17. GRANT THORNTON INTERNATIONAL LTD.
- 9.17.1. Company overview
- 9.17.2. Company snapshot
- 9.17.3. Operating business segments
- 9.17.4. Product portfolio
- 9.17.5. Business performance
- 9.18. ZINNOV
- 9.18.1. Company overview
- 9.18.2. Company snapshot
- 9.18.3. Product portfolio
- 9.19. TATA CONSULTANCY SERVICES LIMITED
- 9.19.1. Company overview
- 9.19.2. Company snapshot
- 9.19.3. Operating business segments
- 9.19.4. Product portfolio
- 9.19.5. Business performance
- 9.20. HURON CONSULTING GROUP INC.
- 9.20.1. Company overview
- 9.20.2. Company snapshot
- 9.20.3. Operating business segments
- 9.20.4. Product portfolio
- 9.20.5. Business performance
- 9.20.6. Key strategic moves and developments
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