Global Technology Strategy Consulting Industry to Reach USD 91.38 Billion by 2025
Technology Strategy Consulting is an arm of Management Strategy Consulting where experts or the technology strategy consultants advise their clients (mostly MNCs / enterprises / large organizations) from various industries on anything that is related to technology– e.g. business model strategy development, web site and mobile apps development and similarly others.
The global strategy consulting market was USD 43.07 Billion in 2017 and will reach USD 91.38 Billion by 2025 at an impressive Common Annual Growth Rate (CAGR) of 9.9% during the forecast period between 2018 – 2025.
The benefits of this consulting model are: getting advice from the best industry talents, coping with the emerging technologies – AI/Blockchain/Mobile and Drone-based Strategies, convenience to select the exact service client needs from experts with expected timeline and accordingly, allocation of the best resource. The challenges with this industry are: many firms into the same business hence cut-throat competition, biggies gobble up the market share and start up consultancy firms fight for existence, suffer price pressure. Start ups also are disruptors and have good competent resources just like the top technology consulting firms have.
The other factors driving the growth of this market are: rapidly evolving new business models at a higher stride than traditional company structures, the need for nurturing business specific competences for exceeding evolving requirement, and strategic planning in highly competitive ecosystems. Some popular examples of technology strategy consulting are: digital transformation, cybersecurity, customer experience, as well as data and analytics. Multi-sourcing is a trend where companies work with more than one consultant from two or three consulting companies and use their niche expertise and vendor collaboration to arrive at the outcome.
Major Players in Technology Strategy Consulting market are:
Deloitte & Accenture
Booz & Co.
The Boston Consulting Group
Bain & Company
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The technology strategy consulting market is segmented based on its type, application. Based on type, the market is split into Emerging Technology, Technology Effectiveness, Technology Development and Other. Based on application, the market is split into Emerging Technology, Technology Effectiveness, Technology Development and Other. Examples of Technology effectiveness or technology development is transforming business from a conventional legacy business model to agile, modern, digitally smart customer responsive model to improve customer experience.
Modularization of services is becoming another trend here where a single organization is not able to manage the complexity of a mega project, and where clients pick and choose from a list of services they can perform inhouse.
The technology strategy consulting market is divided into North America (United States, Canada, Mexico), Europe (Germany, France, UK, Italy, Russia, Spain), Asia Pacific (China, Japan, India), South America (Brazil, Argentina), the Middle-East and Africa (Turkey, Saudi Arabia), Others. USA will dominate the market being a technology innovation hub. All technology disruptions start here first when compared with rest of the globe. Also, key vendors’ head offices are in USA. Asia will have the highest growth in this market. The Middle-East & Africa will register the slowest growth and are positioned after USA, UK, European other countries, Asia Pacific and Latin America.
Some emerging technologies are AI, Drones etc. AI will not replace the need for experts from consulting organizations. Instead, it will change the way things needs to be done to succeed. Need for new skills within organizations as technology develops are also fulfilled by this industry by training operatives inhouse or working with consultants from technology consulting organizations.
Table of Content: –
Global Technology Strategy Consulting Industry Market Research Report
1 Technology Strategy Consulting Introduction and Market Overview
2 Industry Chain Analysis
3 Global Technology Strategy Consulting Market, by Type
4 Technology Strategy Consulting Market, by Application
5 Global Technology Strategy Consulting Production, Value ($) by Region (2014-2019)
6 Global Technology Strategy Consulting Production, Consumption, Export, Import by Regions (2014-2019)
7 Global Technology Strategy Consulting Market Status and SWOT Analysis by Regions
8 Competitive Landscape
9 Global Technology Strategy Consulting Market Analysis and Forecast by Type and Application
10 Technology Strategy Consulting Market Analysis and Forecast by Region
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