This IDC Market Analysis Perspective of the business consulting market describes the market landscape, provides a brief competitive assessment, presents key market drivers for forecast growth, and presents essential guidance for providers of business consulting services.
The business consulting market is responding to two major themes:
- Derisking initiatives and operations
- Pervasive applicability of "digital" as a strategic enabler
With that background, business consulting plays an essential role in helping organizations in three dominant business strategies: cost control, position for the future, and aggressive growth. As a result, business consulting is able to weather economic shifts with less modulation than the economy as a whole and is always able to develop and articulate an attractive value proposition. However, some firms are better able to execute projects successfully and increase client satisfaction.
"While increasingly, projects are including elements of 'derisking' and digital to accomplish their goals, business consulting initiatives in every functional area support the core enterprise strategies of cost control, retooling for future growth, or aggressive strategic growth. Global high-quality firms have the capability and breadth of experience to provide critical advice in every functional area." — Cushing Anderson, program vice president, Project-Based Services research