Digital Services Consulting Market REPORT OVERVIEW
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The global digital services consulting market size was USD 91229.77 million in 2021 and is projected to touch USD 267323.8 million by 2031, at a CAGR of 11.35% from 2021 to 2031. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Digital services consulting is designed to help businesses in the digital world. It allows industries to analyses and consult. The consulting services provide guidance on new technologies and give enterprises the to achieve digital transformation.
Increased demand for digital transformation and a growing need for a consumer to interact with organizations via online method than offline is predicted to drive market growth. The service offers decision-making and strategic planning capabilities; it can provide support in data analytics tools which allow improving analysis of information before a decision, and the growing need for data-driven decision-making and automation is anticipated to drive market growth. Ongoing demand to provide guidance on new technologies and a high need to achieve digital transformation is predicted to drive market progress. Several organizations are offering better user experiences, which is estimated to surge market growth in the future years. Increased adoption of professional consultancy through online channels is estimated to boost service adoption. On the contrary, the presence of old traditional methods is anticipated to halt market progress throughout the estimated period.
COVID-19 Impact: Increased Adoption of Digital Platforms to Boost Market Growth
Coronavirus pandemic boosted digitalization process. The shutdown of several businesses and lockdown restrictions influenced the adoption of digital platforms. Work-from-home policy and high demand to recover business from pandemic loss increased the adoption of the service.
LATEST TRENDS
"Augmented Adoption of Online Services to Accelerate Market Growth "
The services are usually conducted through the internet. The process is known as web-based, remote, or cloud-based service. The service required and support related to technology and business operations. It helps companies to build a robust online presence with the help of SEO (search engine optimization). Further, it helps in pay-per-click management campaigns and other initiatives, which are projected to foster market progress in the upcoming years. Also, social media campaigns on Twitter, Facebook, and LinkedIn attract more customers towards it. Several organizations are adopting social media campaigns is predicted to fuel market progress in the forthcoming years.
Digital Services Consulting Market SEGMENTATION
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- By Type
Based on type, the market is divided into big data, loT analytics, data visualization, data analysis, and others.
Big data is expected to be the top part of type segmentation.
- By Application
Based on the application, the market is divided into large enterprises and small and mid-sized enterprises (SMEs).
Small and mid-sized enterprises (SMEs) are expected to be the top part of application segmentation.
DRIVING FACTORS
"Massive Adoption of the Service in SMEs to Surge Market Progress"
Increased adoption of digital service consulting in small and mid-sized enterprises (SMEs) to address several types of business issues which were pending back from achieving their full potential. Some examples offering benefits in SMEs are decision-making and strategic planning capabilities; it can provide support in data analytics tools which allow improving analysis of information before a decision, and the growing need for data-driven decision-making and automation is anticipated to drive market growth. Ongoing demand to provide guidance on new technologies and a high need to achieve digital transformation is predicted to drive market progress. Several organizations are offering better user experiences, which is anticipated to surge market growth in the upcoming years. Increased adoption of professional consultancy through online channels is estimated to boost service adoption.
Increased Demand from Large Enterprises to Boost Market Development
The services help large enterprises to transform business processes by leveraging the advantages of digital technology. It is more productive and efficient by improving profitability than traditional service delivery methods. The services are generally used in IT infrastructure optimization (ITO), application consolidation & modernization and replace on premise applications with modernized versions which can be hosted in private/public clouds. Also, it helps in lowering the total cost of ownership, which is predicted to drive market progress in the upcoming years.
RESTRAINING FACTORS
"Presence of Old Methods in Market to Harm Market Growth "
The presence of old traditional methods is anticipated to limit market progress throughout the estimated period.
Digital Services Consulting Market REGIONAL INSIGHTS
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"Increased Security Concerns among Enterprises in North America to Drive Market Share "
North America is projected to account for the highest digital services consulting market share owing to increased security concerns among enterprises. Rapid technological advancement and increased digital transformation projects in several industries are anticipated to accelerate market growth. Ongoing demand to provide guidance on new technologies and a high need to achieve digital transformation is predicted to drive market progress. Several organizations are offering better user experiences, which is anticipated to surge market growth in the upcoming years. Increased adoption of professional consultancy through online channels is estimated to boost service adoption.
Europe is anticipated to grow over the forecast period owing to the presence of market players in big data analytics. Increased need for the service to provide and consult digital solutions in business is projected to surge market progress. Growing demand for operational excellence using advanced technologies and tools is predicted to drive digital services consulting market development in the upcoming years.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Bain & Company (U.S.)
- Boston Consulting Group (U.S.)
- Centric Consulting (U.S.)
- IBM (U.S.)
- Accenture (Ireland)
- Baker Tilly Digital (U.K)
- EY Consulting (U.K.)
- McKinsey & Company (China)
- Deloitte Consulting LLP (U.S.)
- PwC (U.K.)
- KPMG International (Netherlands)
- Oracle Consulting (U.S.)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 91229.77 Million in 2021 |
Market Size Value By |
US$ 267323.8 Million by 2031 |
Growth Rate |
CAGR of 11.35% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is digital services consulting market expected to touch by 2031?
The global digital services consulting market size is expected to reach USD 267323.8 million by 2031.
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What CAGR is digital services consulting market expected to exhibit by 2031?
The digital services consulting market is expected to exhibit a CAGR of 11.35% by 2031.
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Which are the driving factors of the market?
Drivers of this market are huge adoption of the service in SMEs and increased demand from large enterprises.
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Which are the top companies operating in the market?
Bain & Company, Boston Consulting Group, Centric Consulting, IBM, Accenture, Baker Tilly Digital, EY Consulting, McKinsey & Company, Deloitte Consulting LLP, PwC, KPMG International, and Oracle Consulting.