Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Management Consulting Market to Reach $295 Billion by 2020, Says Beroe Inc

This image opens in the lightbox

News provided by

Beroe Inc.

23 Oct, 2019, 13:00 GMT

Share this article

Share toX

Share this article

Share toX

RALEIGH, North Carolina, Oct. 23, 2019 /PRNewswire/ -- The global management consulting industry is expected to continue growing at a rate of 4-5 percent, according to Beroe Inc., a procurement intelligence firm. Within management consulting, Operations Consulting holds the largest market share of 28.4 percent and is growing at a rate of 3-4 percent, followed by Financial Advisory with market size of 28 percent and growth of 4-5 percent. 

The market in North America is estimated to be worth $109 billion and is growing at a rate of 3–4 percent annually, followed by Europe, estimated at $107 billion, with an annual growth rate of 3–4 percent. The Middle East market, valued at $3 billion, is the fastest-growing, with an annual growth rate of 9-11 percent, followed by the APAC, valued at $44 billion, growing at 6–7 percent annually.

https://www.beroeinc.com/category-intelligence/management-consulting-market/

Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com

The need for operational efficiency, compliance with regulations, and technological advancements are driving the demand for consulting services. To adapt to changing customer requirements and advancing technology, businesses are re-inventing business models for which they require the skill and expertise of consultants. On the other hand, the freelance consulting industry and in-house consulting groups are posing threat to the traditional consulting business model. The tools, templates, and models of consultants regarded as intellectual capital can no longer be kept a secret in the internet age and the democratization of knowledge is challenging the consulting industry.

New business models, such as crowdsourcing and network-based consulting, are evolving in the industry, which can be disruptive in nature. Crowdsourcing is a rapid way of obtaining a different range of perspectives for a given set of issues and some of the consulting firms have already initiated crowd-sourcing efforts as part of their consulting portfolio. Pricing and flexibility offered by independent/freelance consultants have led to the rapid expansion of the freelance consulting segment. Clients are transitioning from traditional consulting to more collaborative arrangements in which clients can leverage multiple consultancies to offer comprehensive services.

Key Findings:

  • There is a minimal threat of substitutes because the only possible threat comes from the buyer developing an internal team. The acquisition trend also reduces the threat of substitutes. 
  • Buyers' power will increase because of low switching costs between consulting firms. Large buyers have strong buyer power because they have the option of offering sustained business to the consulting firms.
  • Top sourcing models are In-house, global Sourcing, Hybrid Sourcing, Regional/Country Sourcing. The hybrid sourcing model is preferred by medium- and large-sized buyers to achieve a balance between cost and quality while global sourcing is preferred for enterprise-level consulting needs, such as for strategy and audit.
  • Cost structures for management consultants vary in wages and profit margins. Industry players tend to have high profit margins, while smaller firms have higher wage costs, as profit margins are slimmer and the majority of revenue is paid in wages.
  • Management consultants tend to attract the most lucrative deals in North America; however, strong growth from emerging markets, such as China, India, Mexico, and parts of Asia Pacific, increases the profit margins.

The research methodology adopted for the report included:

  • Experts with twenty years of domain experience
  • Interaction with buyers
  • Inputs from supply chain partners

Major cost components in the management consulting industry are wages, accounting for 48 percent of the total costs, followed by purchase for 13 percent and rent & utilities for 4 percent. Top-tier firms (Fortune 500 firms) have a 1-3 percent consulting spend as a percentage of organizational expenditure, averaging at $100-150 million. Mid-tier firms have a consulting spend of 3-5 percent, in the range of $50-100 million while low-tier firms have a 5-7 percent consulting spend amounting less than $50 million. 

The report also includes:


Market Analysis:

  • Market Maturity and Trends
  • Drivers and Constraints
  • Regional Market Outlook
  • Porter's Analysis
  • Mergers and Acquisitions (M&As)

Supply Analysis:

  • Supply Outlook
  • Supply Categorization 
  • Key Suppliers
  • Supplier Profiling

Cost and Pricing Analysis:

  • Cost Structure
  • Pricing Analysis

Procurement Best Practices:

  • Sourcing Models
  • Pricing Models
  • Industry Sourcing Adoption
  • Service Level Agreements (SLAs) and Key Performance Indicators (KPIs)
  • Best Practices
  • Cost-saving Opportunities and Negotiation Levers

Billing Rate Benchmarking:

  • Billing Rates 
  • Factors Affecting Billing Rates
  • Billing Rate Methodology


About Beroe Inc.:


Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.

To learn more about Beroe Inc., please visit: http://www.beroeinc.com

Media Contact:

Debobrata Hembram
debobrata.hembram@beroe-inc.com

Modal title

Also from this source

Beroe Acquires nnamu to Turbocharge Procurement Negotiations with Game Theory and AI

Beroe Acquires nnamu to Turbocharge Procurement Negotiations with Game Theory and AI

Beroe Inc., a global leader in procurement decision intelligence, has acquired nnamu GmbH, a pioneering negotiation technology business that has...

Beroe Pioneers the Future of AI-Powered Procurement Intelligence with Microsoft Copilot Integration

Beroe Pioneers the Future of AI-Powered Procurement Intelligence with Microsoft Copilot Integration

Beroe, a global leader in procurement decision intelligence, has made Abi, its AI-powered procurement assistant, available as an Agent within the...

More Releases From This Source

Explore

Outsourcing Businesses

Outsourcing Businesses

Human Resource & Workforce Management

Human Resource & Workforce Management

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.