Hyderabad, April 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Europe Management Consulting Services Market – (2023 – 2028),” the market is expected to register a CAGR of 5.52%. Management consulting firms offer services that assist organizations in increasing their efficiency. The firms examine the operations and identify existing organizational inefficiencies ranging from high raw material costs to HR policies within the organization. The firm employs its expertise to devise a strategy for addressing all issues in the most effective manner possible. Profit margins are shrinking as market competition increases in various industries, and one of the best ways to improve profits is to improve organizational performance.
Operations consulting is expected to drive market demand:
- Ops consulting services are used to improve operational efficiency.
- Companies are investing in sustainability practices to reduce environmental impact.
- Businesses have responded to supply chain disruptions by building resilient supply chains.
- Manufacturing, supply chain, and process management growth mainly demand operation consulting services.
- Supply chain and procurement are some of the most widely adopted operations consulting services.
- In March 2022, Accenture acquired Alfa Consulting, a consultancy specializing in operations strategy in capital-intensive industries.
- Accenture helps clients transform supply chains into more resilient, responsive, and sustainable ones.
According to FEACO, the number of employees in the European management consulting industry increased marginally between 2020 and last year. Furthermore, compared to 2020, management consulting jobs in Greece increased by 11% last year, the highest compound annual growth rate (CAGR) discovered.
The DACH Region will have the largest market share:
Germany (D), Austria (A), and Switzerland are part of the DACH region. Many consulting firms, both well-known international consultancies and local specialists, are based in these countries. Bain & Company, Kearney, McKinsey & Company, Boston Consulting Group, Alvarez & Marsal, Cordence Worldwide, Nextcontinent, Nexe, and many others are examples of prominent consulting firms.
According to the data from the German association for consulting firms (the BDU), Germany is home to over 4,000 prominent consultancies. These consulting firms advise and support their clients across any conceivable sector and area of expertise, helping companies in the private and public sectors gain access to an enormous pool of consultants to choose from for their required services.
Several consulting firms are expanding their services and presence in the area by opening offices and purchasing other consulting firms.
These include companies' strategic moves to increase their geographical presence in specific potential countries. Reply S.p.A. acquired FINCON Unternehmensberatung GmbH in May 2022, a prominent German consulting firm in digital transformation projects for the banking and insurance industries. The investment by Reply in Fincon was consistent with the company's overall growth strategy, particularly in Germany.
Who are the key players in the Europe Management Consulting Services Market?
The European Management Consulting Services Market is moderately fragmented, with local and international players having decades of industry experience.
- Deloitte Touche Tohmatsu LLP
- Ernst & Young Global Limited
- KPMG
- Boston Consulting Group
- PricewaterhouseCoopers LLP
- McKinsey & Company
- A.T. Kearney Inc.
- Booz Allen Hamilton Inc.
- Bain & Company Inc.
- Accenture PLC
Recent developments in the Europe Management Consulting Services Market:
- In June 2022: Oneservice AG, a Switzerland-based global outsourcing provider, and complete end-to-end managed service solutions provider for the Life Sciences, Diagnostics, and Medical Devices Industries, opened offices in the United Kingdom and Manchester to accelerate the company’s growth in the European region.
- In April 2022: Ernst & Young (EY) announced the expansion of its partnership with Wolters Kluwer to include the CCH Tagetik corporate performance management (CPM) solution and EY Advisory SpA (EY Italy). Thus, businesses can use data to improve performance and deliver long-term service.
In a nutshell, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/europe-management-consulting-services-market
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