Strategy consulting market forecast

A new market estimate says strategy consulting could nearly triple from $38.4 billion in 2021 to $111.4 billion by 2031. (alliedmarketresearch.com) Allied Market Research put the forecast at an 11.6% compound annual growth rate from 2022 through 2031, based on a report first published in November 2022 and recirculated in an April 14, 2026 press release. (alliedmarketresearch.com) (prnewswire.com) Strategy consulting is the slice of management consulting that advises executives on big decisions such as mergers, business-model changes, digital plans, and cost structure. Allied says demand is being pushed by digital business models, cross-border projects, and more work tied to partnerships and mergers and acquisitions. (alliedmarketresearch.com) The forecast lands inside a much larger consulting business. Fortune Business Insights estimated the global management consulting services market at $466.68 billion in 2024 and projected it to reach $721.60 billion by 2032. (fortunebusinessinsights.com) That broader market is still growing, but not evenly. Statista says average revenue per consultant worldwide fell to about $197,000 in 2024, a sign of fee pressure and tougher competition even as total demand rises. (statista.com) Large companies generated the biggest share of strategy-consulting demand in 2021, according to Allied, but small and medium-sized enterprises are projected to post the fastest growth over the forecast period. (alliedmarketresearch.com) The biggest restraint in Allied’s report is that strategy work has substitutes. The firm also flagged data-security and privacy concerns in online consulting as a brake on growth. (alliedmarketresearch.com) Recent industry reporting points both ways on demand. Boston Consulting Group said in February 2025 that companies investing in artificial intelligence were lifting demand for advisory work, while Statista’s 2024 productivity figures suggest firms are also facing lower revenue per head. (bcg.com) (statista.com) IBISWorld’s 2025 global management consultants outlook adds another note of caution: it forecast industry revenue growth slowing to 1.1% in 2025 as trade disruptions weighed on clients, even while it still expected the sector to expand through 2030. (ibisworld.com) So the $111.4 billion figure is less a snapshot of today’s billing than a long-range bet that companies will keep paying for outside advice on technology, restructuring, and growth. (alliedmarketresearch.com)