Consulting Q&AWhat is the size of the European Consulting Market?
Ivan GrenetierIvan Grenetier asked 10 months ago

1 Answers
Arthur GarciaArthur Garcia answered 5 months ago

The European management consulting services market is poised for significant growth, projecting a Compound Annual Growth Rate (CAGR) of 5.52% according to a recent market research report titled "Europe Management Consulting Services Market – (2023 – 2028)."

Notably, supply chain and procurement services are among the most widely adopted operations consulting services. In line with this trend, in March 2022, Accenture made a strategic move by acquiring Alfa Consulting, a consultancy specializing in operations strategy for capital-intensive industries.

This acquisition further strengthens Accenture’s ability to assist clients in transforming their supply chains into more resilient, responsive, and sustainable systems. The European management consulting industry has experienced marginal growth in terms of employment over the past year.

According to the Federation of European Management Consultancies Associations (FEACO), the number of employees in the industry increased slightly from 2020 to the previous year. Notably, Greece witnessed the highest Compound Annual Growth Rate (CAGR) in management consulting jobs, with an impressive 11% increase compared to 2020.

Among the regions within Europe, the DACH region (Germany, Austria, and Switzerland) is expected to dominate the management consulting services market. This region serves as a hub for numerous consulting firms, including internationally renowned consultancies and local specialists.

Prominent consulting firms such as Bain & Company, Kearney, McKinsey & Company, Boston Consulting Group, Alvarez & Marsal, Cordence Worldwide, Nextcontinent, and Nexe have established their presence in the DACH region.

Germany, in particular, boasts a thriving consulting landscape, with over 4,000 renowned consultancies operating within its borders. These consulting firms cater to a wide range of sectors and areas of expertise, enabling companies from both the private and public sectors to access a vast pool of consultants for their specific needs.

As the demand for management consulting services continues to grow, many consulting firms are expanding their services and geographic presence in the region. This expansion includes strategic moves such as opening new offices and acquiring other consulting firms.

With a promising future ahead, the European management consulting services market is poised to play a pivotal role in helping organizations navigate complex challenges and unlock their full potential for success.

As businesses strive for operational excellence and improved performance, the expertise and guidance provided by management consulting firms will continue to be in high demand.