Global Operations Consulting Service Market expected to generate around USD 100,148 million by 2025, at a CAGR of around 5.8% between 2019 and 2025
NEW YORK, NEW YORK, UNITED STATES, February 20, 2020 /EINPresswire.com/ — Zion Market Research has published a new report titled “Operations Consulting Service Market by Organizational Size (Large Enterprises and Small and Medium Enterprises), by Vertical (Aerospace & Defense, BFSI, Healthcare, IT & Telecom, Construction & Mining, Automotive, Entertainment & Media, Chemicals & Materials, Consumer Goods, Durables, & Retail, Semiconductor & Electronics, Manufacturing, Transportation & Logistics, and Others), and by Application (Supply Chain, Financial Operations, Human Resource Operations, Project Management, Process Management, Manufacturing Operations, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global operations consulting service market was approximately USD 68,183 million in 2018 and is expected to generate around USD 100,148 million by 2025, at a CAGR of around 5.8% between 2019 and 2025.
Operation consulting services, also known as operations management, are defined as advisory and/or execution facilities that develop a company's internal operations and performance in the value chain system. The demand for business operations consulting services has been increasing over the last few years due to an increase in globalization, digitization of business and operating models and rise in the need to manage risk and enhance sustainability. The main key drivers of the global operations consulting service market are cost-cutting and downsizing that has led to the improvements in diverse business processes. Furthermore, the operations consulting service market growth is also dependent on the transformation in the operational aspects of organizational domains like finance, HR, and marketing. However, potential changes in regulation and requirement of highly qualified personnel may negatively affect the operations consulting service market globally.
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The global operations consulting service market is fragmented on the basis of organization size, verticals, and application. Based on organization size, the market includes large enterprises and small and medium enterprises. The small and medium enterprises segment is expected to account for the largest market share in terms of revenue in 2018 and register the highest CAGR over the forecast time period. This can be attributed to the increase in the number of operations consultancy firms.
By vertical, the market is categorized into aerospace and defense, BFSI, Healthcare, IT and telecom, construction and mining, automotive, entertainment and media, chemicals and materials, consumer goods, durables, and retail, semiconductor and electronics, manufacturing, transportation and logistics, and others (power and utility and travel and tourism). The BFSI segment led the market with the highest revenue share in 2018, due to the excessive use of operational services by this sector.
The application segment of the market includes supply chain, financial operations, human resource operations, project management, process management, manufacturing operations, and others. Supply chain and manufacturing operations dominated the market with the highest revenue shares in 2018, whereas financial operations are likely to be the fastest growing segment over the upcoming years.
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North America dominated the global operations consulting service market with the highest revenue share in 2018, due to the developed infrastructure facilities and high consulting services use to improve the performance in value chain system and reduction of production costs. North America is estimated to remain at the top position in the global market over the forecast time period, owing to the rising public and private funding for R&D. Europe contributed the second largest revenue share globally in 2018.
Some key players operating in the global operations consulting service market include IBM, Deloitte Consulting, Accenture, McKinsey & Company, PwC, The Hackett, Riveron Consulting, KPMG, Agro Consulting, A.T. Kearney, and OCG Consultancy.
This report segments the global operations consulting service market into:
Global Operations Consulting Service Market: By Size
Small and Medium Enterprises
Global Operations Consulting Service Market: By Vertical
Aerospace and Defense
IT and Telecom
Construction and Mining
Entertainment and Media
Chemicals and Materials
Consumer Goods, Durables, and Retail
Semiconductor and Electronics
Transportation and Logistics
Others (Power and Utility and Travel and Tourism)
Global Operations Consulting Service Market: By Application
Human Resource Operations
Global Operations Consulting Service Market: By Region
Middle East and Africa
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Source: EIN Presswire