Market Size of MEA Management Consulting Services Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 9.75 Billion |
| Market Size (2028) | USD 11.98 Billion |
| CAGR (2023 - 2028) | 4.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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MEA Management Consulting Services Market Analysis
The MEA Management Consulting Services Market size is estimated at USD 9.75 billion in 2023, and is expected to reach USD 11.98 billion by 2028, growing at a CAGR of 4.20% during the forecast period (2023-2028).
The market is studied based on the revenue generated from management consulting services across the Middle East and Africa.
There is an increased need for management consulting services due to strong economic development, regulatory changes in the financial sector, outsourcing back-end operations to low-cost economies, and public investments. Faster economic growth, the introduction of digital consulting, and the increase of globalization are expected to accelerate the market's growth in the region.
Business management consultants are still figuring out new business models and digital technology. To retain a positive market outlook, consultancies plan to implement comprehensive digital strategies and remodel existing business and operational techniques.
The consulting services business is undergoing a digital transformation. There are several opportunities to improve client experience. Educating customers on using analytics is becoming a vital component of modern consulting. Consultants are learning new skills to keep ahead of the disruption.
New consulting firms are emerging where virtual business models are being used, supported by cutting-edge technology that enables them to accomplish more with less. Simultaneously, as technology advances, corporate clients are increasingly eager to solve more complex problems in-house, providing new difficulties for global consulting companies as outsourcing becomes less required. Clients may increasingly grasp better how their profession operates in real-time, free, or at a much-reduced cost.
During the COVID-19 pandemic, the region's technical progress reached a particular level. Every job, from management to operations, has been riding the tide of the technological revolution. With assistance from consulting services, time and money spent by management and project teams on meetings, logistics, resources, and operations are managed more productively. The end-user industry participants recognized the value of management consulting services during the pandemic and are anticipated to be assisted in optimizing resources in the post-pandemic situation.
