Allied projects $37.5B banking consulting

Allied Market Research said in a March 17, 2025 release that the global banking consulting services market is projected to reach $37.5 billion by 2033, up from $20.1 billion in 2023. The firm said that implies a compound annual growth rate of 6.3% from 2024 through 2033. The forecast sits inside a broader report on how banks are spending on outside advice as they update technology, manage regulation and restructure operations. Allied said operation consulting was the largest service segment in 2023, with strategy consulting also included among the market’s core categories. ### Where does the $37.5 billion figure come from? Allied Market Research published the forecast in a report titled “Banking Consulting Services Market,” covering the period from 2024 to 2033. The company’s market page says the study breaks the sector down by service, enterprise size, end user and region, and lists 2023 as the base year. Allied’s website and syndicated listings both describe the same topline numbers: $20.1 billion in 2023 and $37.5 billion by 2033. (finance.yahoo.com) March 17, 2025 is the publication date attached to the press-release version carried by Yahoo Finance and other outlets. Allied’s report listing on its own site shows the report was published in February 2025. ### Which parts of banking consulting are driving the forecast? (alliedmarketresearch.com) Allied says the market is segmented by service into operation consulting, strategy consulting, technology consulting, financial advisory consulting and others. The company said operation consulting accounted for the largest share in 2023 and is expected to keep that position in coming years. Strategy consulting is listed as a separate major service line within the market, alongside technology and financial advisory work. (finance.yahoo.com) The company said demand is being driven by banks’ efforts to improve efficiency, reduce costs and upgrade customer experience. Allied also cited digital banking, automation, regulatory change and risk management needs as factors supporting demand for consultants. (alliedmarketresearch.com) ### What are banks buying from consultants? Retail banking was the largest end-user segment in 2023, according to Allied’s market page. North America generated the highest regional revenue in 2023, the company said, while large enterprises accounted for the biggest share by enterprise size. (alliedmarketresearch.com) Allied said banks are seeking help with process automation, financial restructuring, capital efficiency, customer-focused banking models and technology-led financial services. The report also points to demand tied to digital payment expansion, mergers and acquisitions, and environmental, social and governance compliance. (alliedmarketresearch.com) ### Why does the split between strategy and operations matter? Operation consulting’s lead in the market suggests buyers are spending on implementation-heavy work as well as high-level planning, according to Allied’s segment breakdown. Because strategy consulting appears as a separate category in the same forecast, the report points to a market where banks are still paying for both direction-setting and execution support. (alliedmarketresearch.com) That reading is an inference from Allied’s segmentation and market-share data, not a separate company statement. The report’s framing also shows that technology consulting is not the only growth lane in banking advisory. Allied groups operational redesign, strategic planning, technology work and financial advisory inside the same market, reflecting how banks often buy those services together during transformation programs. That description follows the report taxonomy published by Allied. (alliedmarketresearch.com) ### Where can readers find the underlying report? Allied Market Research lists the full report on its website under report code A324270, with 261 pages, 177 tables and 76 charts. MarketResearch.com and Research and Markets also carry syndicated versions of the same study. (alliedmarketresearch.com) February 2025 is the publication month shown on Allied’s report page, while March 17, 2025 is the date on the release announcing the findings. The forecast period runs through 2033, according to the report description. (alliedmarketresearch.com)