LONDON, July 28, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the management consulting services market, metaverse consulting services are gaining popularity in the management consulting services market trends. The metaverse is a shared virtual environment that people access via the internet to work, socially interact, transact, play, and even create. Consulting companies are offering metaverse services to help companies develop strategies to operate and interact with customers in transformative ways.
For instance, in March 2022, Accenture, an Ireland-based management consulting company, launched a new metaverse advisory business line, which will support clients with everything from strategy through to metaverse world-building. Similarly, in January 2022, Deloitte, a UK-based management consulting company, launched new metaverse services and a studio that will use Nvidia's Omniverse tools. This will help clients harness next-generation strategies, tools, and technologies to create and connect virtual worlds.
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The global management consulting services market is expected to grow from $891.88 billion in 2021 to $973.67 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The growth in the management consulting services market is mainly due to companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The management consulting services market share is expected to reach $1320.94 billion in 2026 at a CAGR of 7.9%.
With a 3.68% share of the market, Deloitte Touche Tohmatsu Limited was the largest competitor in the management consulting services market in 2021. Deloitte Touche Tohmatsu Limited is a provider of professional services. The firm offers audit, risk advisory, financial advisory, consulting, tax, and legal services. Deloitte’s growth strategy focuses on strengthening its business operations through strategic acquisitions. For instance, in March 2022, the company acquired BIAS Corporation, a cloud consulting company leading in the Oracle Cloud Infrastructure (OCI) marketplace. Through this acquisition, the company aims to help its clients develop powerful foundations for the future enabled by Oracle Cloud Applications and Oracle Cloud Infrastructure.
Major companies in the management consulting market include Accenture, Deloitte Touche Tohmatsu Limited, Total SA, PwC, Ernst & Young, KPMG, Aon P.L.C, Aon Hewitt, McKinsey & Company, and Boston Consulting Group Inc.
The global management consulting services market is segmented by type into operations advisory, financial advisory, technology advisory, strategy advisory, other consulting services, HR advisory; by end use industry into IT services, manufacturing, financial services, mining and oil & gas, construction, others; by service provider into large enterprise, small and medium enterprise.
Western Europe was the largest region in the management consulting services market in 2021. North America was the second largest region in the management consulting services market. The regions covered in the management consulting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Management Consulting Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provide management consulting services market overviews, management consulting services market analyze and forecast market size and growth for the whole market, management consulting services market segments and geographies, management consulting services market trends, management consulting services market drivers, management consulting services market restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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