Operations Advisory Global Market Report 2024

The operations advisory market size has grown steadily in recent years. It will grow from $281.52 billion in 2023 to $292.29 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth observed in the historical period can be attributed to factors such as the globalization of businesses, changes in market dynamics and increased competition, economic fluctuations, regulatory changes, and industry-specific challenges.

The operations advisory market size is expected to see steady growth in the next few years. It will grow to $340.13 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The anticipated growth in the forecast period can be attributed to factors such as digital transformation initiatives, a focus on sustainability and ESG (Environmental, Social, and Governance) compliance, resilience planning, optimization of supply chains, and strategic cost management in operations advisory. Major trends expected in this period include the optimization of remote work, evolving regulatory compliance requirements, further enhancements in supply chain optimization, increased integration of AI (Artificial Intelligence) and automation, and a continued shift towards customer-centric operations.

The growth of the operations advisory market is being significantly propelled by the increased number of startups. Startups, characterized as early-stage entrepreneurial initiatives, often seek operations advisory to develop a business structure capable of handling growth and adapting to diverse market situations. According to the US Small Business Administration, the USA witnessed 33.2 million startups in 2022, marking a notable increase of 700,000 compared to 2021. This surge in startup numbers is expected to drive the operations advisory market.

The operations advisory market is poised for growth due to the rapid digital transformation taking place in various industries. Digital transformation involves leveraging digital technology to fundamentally alter organizational functions, deliver value to consumers, and enhance market competitiveness. In this context, operations advice becomes crucial, offering strategic counsel and practical support to manage the challenges associated with change, enabling businesses to fully capitalize on their digital initiatives. According to the Digitalization in Europe 2021-2022 report, which collected data from over 13,500 businesses in the EU, the UK, and the USA, the US led in digital technology adoption with 66% of businesses using advanced digital technology, highlighting the growth potential for the operations advisory market.

A key trend in the operations advisory market is the integration of technological advancements. Major companies in the market are actively incorporating technology into operations advisory practices to gain a competitive advantage. For example, FTI Consulting partnered with NetDocuments to launch a technology platform that provides clients with flexible and integrated native cloud-based solutions for legal department functions such as document and content management. This move reflects the industry trend of leveraging technology to enhance advisory services.

Strategic partnerships are also a prevalent approach adopted by major companies in the operations advisory market. By forming partnerships, companies aim to enhance their capabilities and achieve mutual benefits. Bain & Company announced a partnership with Schneider Electric, combining Schneider Electric's proficiency in carbon mitigation and energy use modifications with Bain & Company's advisory skills in decarbonization. This collaboration demonstrates the shared expertise of the firms in driving clients' sustainability goals.

In November 2023, Accenture Plc acquired Solnet, a New Zealand-based company providing advisory, migration expertise, and cloud-native development services. This acquisition expands Accenture's infrastructure engineering and local cloud expertise, enabling customers to leverage a comprehensive spectrum of IT skills for digital transformation.

Major companies operating in the operations advisory market report are Accenture plc, Deloitte Touche Tohmatsu Limited, KPMG International Cooperative, McKinsey & Company Inc., Boston Consulting Group Inc., Bain & Company Inc., AT Kearney Inc., Ernst & Young Ltd., PricewaterhouseCoopers International Limited, The Goldman Sachs Group Inc., JPMorgan Chase & Co., Overseas Career Guidance Consultancy, Riveron LLC, Oliver Wyman Group Inc., Marsh & McLennan Companies Inc., Willis Towers Watson Public Limited Company, Fujitsu Limited, HCL Technologies Limited, Booz & Company Inc., Infosys Limited, Dell Technologies Inc., International Business Machines Corporation, Tata Consultancy Services Limited, Vault Consulting Rankings LLC, The Hackett Group Inc., PWC Strategy& US LLC, Guidehouse Inc., Altman Solon LLC, ClearView AI, DeciBio Consulting LLC.

North America was the largest region in the strategy advisory market in 2023. Western Europe was the strategy advisory market report second-largest region in the strategy advisory market. The regions covered in the operations advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the operations advisory market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of operations advisory product categories include financial advisory, technology advisory, strategy advisory, HR (human resource) advisory, and manufacturing. Financial advisory comprises a group of knowledgeable experts who provide guidance on effective money and asset management, and it is utilized in operations advisory for managing working capital. Operations advisory services cater to enterprises of various sizes, including large enterprises and small and medium enterprises. The operations advisory field spans across industries such as aerospace and defense, BFSI (banking, financial services, and insurance), healthcare, IT (information technology) and telecom, construction and mining, automotive, entertainment and media, chemicals and materials, consumer goods, durables, retail, semiconductor and electronics manufacturing, and others.

The operations advisory market research report is one of a series of new reports that provides operations advisory market statistics, including operations advisory industry global market size, regional shares, competitors with an operations advisory market share, detailed operations advisory market segments, market trends and opportunities, and any further data you may need to thrive in the operations advisory industry. The operations advisory market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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