Managing expectations: Economic uncertainty is hindering management consultants' growth in 2023
Management Consultants revenue is expected to expand at a compound annual rate of 0.6% over the five years through 2023, to €9.9 billion, including a subdued growth of 0.6% in 2023. Higher number of businesses and a good level of government expenditure have supported demand for management consultants. Firms provide services to companies across all sectors of the economy, limiting revenue volatility. The COVID-19 pandemic and heightened uncertainty amid the Russia-Ukraine conflict have hindered revenue growth in recent years.
Management consultants provide advice, guidance and operational assistance to businesses and other organisations on management issues. Principal areas of consultation include strategic and organisational planning, marketing, human resources, and operational management. The industry excludes the provision of consulting advice on legal, engineering and educational matters. Consulting relating to financial management is also excluded.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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