Facts and Factors Market Research has published a new report titled “Western Europe Business Management Consulting Services Market By Consulting Services (Strategy Consulting, Technology Consulting, Operations Consulting, Finance & Accounting Consulting, and HR Consulting), By Organization Capital (Lesser than 300 Million, Between 300 and 2,000 Million, Between 2,000 Million and 5,000 Million, and More than 5,000 Million), and By Verticals (BFSI, Aviation, IT & Telecom, Healthcare, Retail & FMCG, Entertainment & Media, Manufacturing, Transportation & Logistics, and Automotive): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the Western Europe Business Management Consulting Services market was valued at approximately USD 89,864 million in 2018 and is expected to reach a value of around USD 174,897 million by 2027, at a CAGR of around 7.7% between 2019 and 2027.
Business management consulting services help in assisting various business institutes in improving their performance through optimum usage of resources. Moreover, consultants scrutinize and critically examine the business plans of the firm and offer them solutions as per the needs of the firm & business objectives. Business management consulting services include strategic consulting, business planning, training employees, outsourcing, and others.
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Firms operating at many locations to steer the market growth
Companies belonging to different business verticals are trying to expand their business by operating in various locations across the globe. This, in turn, is expected to drive the growth of the Western Europe business management consulting services industry over the forecast timeline. Moreover, advantages like cost reduction, tax exemptions, and increase in the workforce have encouraged the firms to launch a business in foreign countries.
In addition to this, the escalating need to gain a competitive edge is likely to drive the firms to hire business management consulting services. Moreover, firms work with consultants for expanding their businesses across the globe. Top firms such as SAP SE, Barclays, BMW, Munich RE, and Renault are trying to expand their businesses in Western Europe and this is likely to generate heavy demand for consultancy services in Europe over the forecast period.
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Furthermore, massive investments & utilization of innovative technologies for coining digital business prototypes will boost the market expansion during the period from 2019 to 2027. In addition to this, the launching of new technologies like big data, IoT, AI, and cloud tools is likely to further thrive the growth of the industry over the forecast period. Nonetheless, the exit of the UK from the EU due to Brexit agreement is likely to result in the relocating of business activities like Airbus and BMW. This can inhibit the scope of the business in the European continent.
Strategy consulting to dominate the consulting services segment
The dominance of the segment during the forecast timeline is attributed to its beneficial features like the use of effective business tools to assist the company business flourish. Moreover, it helps in the identification of current trends that help the firms take decisions pertaining to acquisitions, technological funding, and cost reduction.
Retail & FMCG segment to register the highest CAGR by 2027
The retail & FMCG segment is predicted to record a CAGR of nearly 10.2% over the forecast timeline. The growth of the segment is attributed to the rise in the utility of technology in the retail activities that have created a huge demand for consultants. Moreover, consultants assist the retailers in enhancing their delivery operations and improving the vendor relationships as well as revamping the store functions.
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Germany to lead the regional market revenue growth by 2027
The growth of the country is credited to the acceptance of new technologies in the manufacturing activities.
Key players in the Western Europe Business Management Consulting Services industry include Accenture, KPMG, QVARTZ, Altair Management Consultants, Avanti, BAIN & COMPANY, SPConsulting AB, PwC, McKinsey & Company, Aliby Consulting Group AB, Influence, Mott MacDonald, Poyry PLC, Booz Allen Hamilton, Boston Consulting Group, Capacent AB, Cognizant, EFESO Consulting, Capgemini, Deloitte, Intermind Consulting, Ramboll Group, Navigant Consulting Inc., Siemens, Ernst & Young Global Limited, Everis Group, Barkawi Management Consultants, Tata Consultancy Services Limited, IBM Corporation, and Implement Consulting Group.
This report segments the Western Europe Business Management Consulting Services market as follows:
Western Europe Business Management Consulting Services Market: By Consulting Services Segment Analysis
- Strategy Consulting
- Technology Consulting
- Operations Consulting
- Finance & Accounting Consulting
- HR Consulting
Western Europe Business Management Consulting Services Market: By Organization Capital Segment Analysis
- Lesser than 300 Million
- Between 300 and 2,000 Million
- Between 2,000 Million and 5,000 Million
- More than 5,000 Million
Western Europe Business Management Consulting Services Market: By Verticals Segment Analysis
- IT & Telecom
- Retail & FMCG
- Entertainment & Media
- Transportation & Logistics
Western Europe Business Management Consulting Services Market: Regional Segment Analysis
- Benelux Union
- The Netherlands
- Rest of Western Europe
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