NEW YORK, Oct. 15, 2023 /PRNewswire/ -- The marketing consulting market size is expected to grow by USD 41.56 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 4.93% during the forecast period. The market is segmented by service (marketing strategy market development and implementation consulting services, sales management and development consulting services, and others), application (automotive, chemicals, machine industry, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Subscription-based consulting models gaining traction boosts the market growth. There is an increasing adoption of subscription-based models by marketing consultants where customers pay a frequent fee for ongoing advice and support, thereby maintaining long-term relationships. As a result, several consumers utilizing the subscription model often benefit from priority service, which can contain quicker response times and reliable attention from consultants. Hence, such factors drive the market growth during the forecast period.
Key Highlights:
- The report recognizes the following as some of the key players in the marketing consulting market: Accenture Plc, Alvarez and Marsal Holdings LLC, Bain and Co. Inc., BearingPoint Holding BV, Boston Consulting Group Inc., Cedar Management Consulting International LLC, Deloitte Touche Tohmatsu Ltd., Elixirr International plc, Ernst and Young Global Ltd., INNOPAY B.V., KPMG International Ltd., L.E.K. Consulting LLC, McKinsey and Co., Nextcontinent, OC and C Strategy Consultants, PricewaterhouseCoopers LLP, RGA Media Group Inc., The Nielsen Co. US LLC, The North Highland Co., YCP Solidiance, and ZS Associates Inc.
- Marketing Consulting Market is fragmented in nature.
- Market to observe 4.35% YOY growth in 2023.
Market Dynamics:
Trend
- Changing the selection process of consulting firms is a primary trend in the market during the forecast period.
Challenges
- Unpredictability in the marketplace is a major challenge hindering the market growth during the forecast period.
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Key Segments:
- The market share growth by the marketing consulting services segment is significant during the forecast period. The main services offered by marketing consulting services comprise advice and guidance related to marketing strategies. In addition, it also contains planning and organization, competitive analysis, customer analysis, marketing audits, and market assessments. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the marekt growth during the forecast period.
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Related Reports:
The strategy consulting market is estimated to grow at a CAGR of 17.63% between 2022 and 2027 and the size of the market is forecast to increase by USD 70.08 billion.
The instrumentation services market size is estimated to grow at a CAGR of 5.06% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,569.3 million.
Marketing Consulting Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.93% |
Market growth 2023-2027 |
USD 41.56 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
4.35 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accenture Plc, Alvarez and Marsal Holdings LLC, Bain and Co. Inc., BearingPoint Holding BV, Boston Consulting Group Inc., Cedar Management Consulting International LLC, Deloitte Touche Tohmatsu Ltd., Elixirr International plc, Ernst and Young Global Ltd., INNOPAY B.V., KPMG International Ltd., L.E.K. Consulting LLC, McKinsey and Co., Nextcontinent, OC and C Strategy Consultants, PricewaterhouseCoopers LLP, RGA Media Group Inc., The Nielsen Co. US LLC, The North Highland Co., YCP Solidiance, and ZS Associates Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Service
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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