Key Findings

• Strategy consulting helps organizations define long-term goals, identify growth opportunities, and align operations with market dynamics through high-level advisory services.
• It plays a critical role in enabling M&A transactions, market entry strategies, digital transformation roadmaps, and performance optimization initiatives.
• The growing complexity of global markets, rapid technological disruption, and heightened competition are fueling demand for strategic advisory support across industries.
• Clients are increasingly shifting toward outcome-based consulting engagements, where consultants are accountable for measurable KPIs and implementation.
• Leading consulting firms are leveraging advanced analytics, AI, and sector-specific expertise to deliver actionable, data-driven insights.
• The market is expanding rapidly across emerging economies where local firms and governments seek external expertise for industrial policy, digital adoption, and globalization.
• Key verticals adopting strategy consulting include BFSI, healthcare, energy, consumer goods, telecom, and public sector organizations.
• Boutique firms are gaining prominence in niche areas such as ESG strategy, digital supply chains, and innovation acceleration.
• North America and Europe remain mature markets, while Asia-Pacific, Latin America, and the Middle East present strong growth opportunities.
• Major firms include McKinsey & Company, BCG, Bain & Company, Accenture Strategy, Roland Berger, and Oliver Wyman.

Market Overview

The global strategy consulting market represents a vital component of the broader management consulting industry, offering high-value advisory services to senior leadership and decision-makers. Strategy consultants work with organizations to define corporate direction, assess competitive positioning, evaluate new markets, and structure transformative initiatives to ensure long-term sustainability.

As businesses face unprecedented volatility from geopolitical tensions to climate risk and digital disruption the need for independent, objective expertise is growing. Strategy consulting engagements often serve as the foundation for critical decisions involving investments, product development, organizational restructuring, or expansion.

These services span across corporate, business unit, functional, and operational strategies, often requiring multi-disciplinary collaboration between strategy experts, data scientists, economists, and technology specialists. Increasingly, clients expect strategy consultants not only to recommend change but also to guide implementation through program management and continuous improvement frameworks.

Strategy Consulting Market Size and Forecast

The global strategy consulting market was valued at USD 52.8 billion in 2024 and is projected to reach USD 92.1 billion by 2031, growing at a CAGR of 8.2% during the forecast period.

This growth is driven by the rapid pace of business transformation and rising C-suite demand for expert guidance on responding to macroeconomic shifts, evolving consumer preferences, and emerging technologies. Consulting demand has also been amplified by structural changes in industries such as financial services, healthcare, and manufacturing, which face tightening regulations and new competitive pressures.

Furthermore, digital-first strategies, decarbonization goals, and cross-border M&A activity are reinforcing the role of strategy consulting as an enabler of organizational agility and innovation.

Future Outlook

The future of the strategy consulting market will be shaped by deeper integration of technology, sector specialization, and outcome accountability. Clients will increasingly seek partners that combine industry insight with execution capabilities and technological acumen to drive sustainable impact.

Consulting firms are expected to invest heavily in digital capabilities, including data analytics, AI modeling, and cloud strategy, to augment traditional frameworks with predictive insights. Moreover, ESG strategy, diversity and inclusion (D&I), and geopolitical risk consulting will become standard offerings, especially for global firms with complex stakeholder ecosystems.

Smaller, agile consultancies will continue to grow by offering domain-specific services with faster turnaround times and customized value propositions. As hybrid working and remote collaboration become the norm, virtual consulting models will rise, enabling firms to scale globally while maintaining flexibility and cost efficiency.

Strategy Consulting Market Trends

• Data-Driven Strategic Advisory
  The adoption of big data and AI in consulting workflows is transforming traditional strategy development. Firms now use advanced modeling, predictive analytics, and scenario planning to simulate business outcomes and validate decisions in real time. This shift enables clients to make more confident and evidence-backed strategic choices.
• Rise of ESG-Focused Strategy Engagements
  Environmental, Social, and Governance (ESG) strategy consulting is gaining momentum as organizations face pressure from regulators, investors, and consumers. Consultants help companies develop carbon-neutral roadmaps, circular economy strategies, and sustainability-linked growth models, integrating ESG into core operations.
• Vertical Specialization and Sector Expertise
  Strategy consulting is increasingly shifting from generalized frameworks to domain-specific solutions. Firms are building dedicated practices for industries like healthcare, fintech, energy transition, and space tech to address unique challenges and regulations, enabling deeper insights and more actionable recommendations.
• Outcome-Based Pricing Models
  Clients are demanding performance-linked contracts where consulting fees are tied to achieving specific milestones or KPIs. This trend reflects growing expectations for transparency, accountability, and value delivery in engagements, especially among large enterprises and government agencies.
• Increased Focus on Transformation and Execution Support
  Strategy consultants are now expected to remain involved beyond the planning phase to help implement solutions, monitor progress, and adjust course as needed. This evolution blends strategic vision with executional excellence, enabling a more holistic and sustainable approach to change management.

Market Growth Drivers

• Digital Transformation and Technology Convergence
  Organizations undergoing digital transformations require strategic guidance to align investments, prioritize initiatives, and manage change. Consulting firms provide roadmaps that incorporate AI, cloud, IoT, and cybersecurity while ensuring digital maturity aligns with business objectives.
• Mergers, Acquisitions, and Market Entry Strategies
  As industries consolidate and globalize, firms turn to consultants for M&A strategy, due diligence, and post-merger integration planning. In parallel, market entry strategies into new geographies or verticals remain a strong driver of strategic advisory demand.
• Global Uncertainty and Risk Mitigation
  Political instability, regulatory volatility, and supply chain disruptions have made risk management a board-level concern. Strategy consultants help clients assess external risks, restructure supply chains, and build operational resilience to navigate global uncertainty.
• Demand for Agile and Customer-Centric Business Models
  With customers demanding personalization and rapid service delivery, companies are redesigning their operating models. Strategy consultants enable this shift by helping organizations become agile, flatten hierarchies, and adopt customer-first innovation practices.
• Government and Public Sector Reforms
  Governments are increasingly relying on strategy consulting for policy advisory, infrastructure planning, e-governance implementation, and economic diversification. This is especially prominent in emerging economies undergoing structural transformation.

Challenges in the Market

• Talent Retention and Skill Shortages
  Attracting and retaining top-tier consulting talent remains a challenge, particularly in niche areas like AI strategy, ESG advisory, and cloud transformation. Rising attrition and the demand for hybrid work flexibility are reshaping firm culture and hiring practices.
• Pressure on Pricing and Profit Margins
  Clients are negotiating harder on fees and expecting higher returns on consulting investments. Combined with competition from in-house strategy teams and low-cost digital consultants, this trend is putting pressure on traditional firms' profitability models.
• Client Expectation for Faster Results
  The shift toward agile planning and shorter strategic cycles has led clients to expect faster insights and execution readiness. This compresses traditional project timelines and challenges firms to deliver depth and speed simultaneously.
• Disruption from Digital-First and Freelance Platforms
  Digital consulting platforms and freelance strategy networks are emerging as viable alternatives to traditional firms. These platforms offer faster access to talent, lower overhead, and customizable teams, particularly for SMEs and tech startups.
• Ethical and Conflict-of-Interest Concerns
  As consulting firms diversify services across implementation, IT, and risk advisory, maintaining ethical boundaries and avoiding conflicts of interest is increasingly complex—especially when serving competing clients in the same sector.

Strategy Consulting Market Segmentation

By Type of Consulting

• Corporate Strategy
• Business Unit Strategy
• Market Entry and Growth Strategy
• M&A and Due Diligence
• Digital Strategy
• ESG and Sustainability Strategy

By Industry Vertical

• Banking, Financial Services, and Insurance (BFSI)
• Healthcare and Life Sciences
• Energy and Utilities
• Consumer and Retail
• Technology and Telecommunications
• Government and Public Sector
• Manufacturing and Industrial

By End-user

• Large Enterprises
• Small and Medium Enterprises (SMEs)
• Government Bodies
• Non-Profit Organizations

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Leading Players

• McKinsey & Company
• Boston Consulting Group (BCG)
• Bain & Company
• Accenture Strategy
• Oliver Wyman
• Roland Berger
• Strategy& (PwC)
• EY-Parthenon
• Kearney
• L.E.K. Consulting

Recent Developments

• McKinsey & Company launched QuantumBlack, a specialized AI and analytics practice to enhance digital strategy consulting across industrial and healthcare sectors.
• Bain & Company expanded its ESG and impact investing team to support clients in designing responsible business models and achieving net-zero commitments.
• Accenture Strategy acquired Optimind to strengthen its capabilities in risk management, insurance consulting, and climate strategy in Europe.
• Roland Berger opened a new innovation center in Singapore focused on supporting smart city planning and digital infrastructure strategies in Southeast Asia.
• Oliver Wyman partnered with a global insurer to develop a generative AI-based risk analytics platform for strategic underwriting and portfolio optimization.