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Increasing competition and a rapidly changing regulatory scenario pertaining to different businesses requires a high level strategy formulation before penetrating into newer market or establishing a firm foothold in the established market. Further, strategy consulting is also used as a vital tool by any firm for having a basic understanding of a particular market along with regional demographics and the regulatory environment enabling the technical know-how pertaining to the region. The presence of higher number of large as well as medium enterprises is very high in North America and hence, this region leads the adoption of strategy consulting.
Since decades, the consulting industry has imparted knowledge to the organizations where it is impacted owing to fundamental economic changes happening in the economy. The consulting industry used to work on the time based billing model and execute projects for client. Also, large projects would be awarded to single firms and the entire consulting industry would be ruled a few leading competitors in the strategy consulting market. However, the scenario has started to change where a large project would be shared and collaborated between many consulting firms. Also, many new entrants with advanced technologies have been emerging in the industry and ensuring that only a few leaders do not rule the entire consulting industry.
Technologies such as Big Data, IoT, Predictive Analytics, and machine learning are witnessing rapid developments, backed by the large-scale investment from the technological giants in order to develop patterns from the huge amount of generated data. North America strategy consulting market is primarily driven by the growing demand from the BFSI, manufacturing and IT & Telecom sector. In addition, North America has already well-established and developed cloud infrastructure. The growing need for digitalization and smart technological solutions in order to implement smart business decision and technology modernization have contributed substantially towards the growth in North America. With a large number of digital initiatives being laid in the North America, the need for a proper consultation of digital strategies has become imperative by the large organizations and therefore drive the strategy consulting market in the region.
US is the largest economy in the world and one of the most important economy as well. The total global out of the country is around 20%, which is larger than that of China. The service-sectors of the country are highly developed and technologically advanced. Service-oriented companies dominate the economy which includes technology, healthcare, financial services and retail. Economic growth of the country is constantly driven by continuous capital investment, ongoing innovation and R&D activities. US is anticipated to lead the adoptions of strategy consulting across the North American region through the forecast period. High industrialization in the country has also resulted in increasing demands for strategy consulting by the different industry sectors for strategizing purposes.
The global strategy consulting market is segmented based on services, industry vertical and geography. The segmentation in this research study has been finalized post in-depth secondary research and extensive primary research. In addition, the strategy consulting market is also segmented on the basis of products offered by the leading participants in the industry in order to understand widely used market specific terminologies.
Key players in the strategy consulting market are taking measures to gain maximum benefit from on the opportunities in emerging markets. Some of the major players in the strategy consulting market include A.T. Kearney, Inc., Accenture PLC, Delloite, Bain & Company, Ernst & Young Ltd., KPMG, McKinsey & Company, Mercer LLC, The Boston Consulting Group, and PwC among others. Various other companies also operate in the global strategy consulting market, with enhanced software & solutions and significant customer base.
The report segments the global strategy consulting market as follows:
Global Strategy Consulting Market - By Services
Global Strategy Consulting Market - By Industry Vertical
Global Strategy Consulting Market - By Geography
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