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Consulting Services Segment Market to Grow by USD 134.9 Billion (2024-2028) as New Service Launches Drive Growth; AI-Redefined Market Landscape Report – Technavio

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NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global consulting services segment market size is estimated to grow by USD 134.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.2% during the forecast period. Launch of new services by vendors is driving market growth, with a trend towards increased focus of consulting firms on sustainability. However, cybersecurity issues in professional services poses a challenge.Key market players include Accenture PLC, Bain and Co. Inc., Boston Consulting Group Inc., Capgemini Services SAS, CGI Inc., Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Ernst and Young Global Ltd., FTI Consulting Inc., Gartner Inc., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., KPMG International Ltd., McKinsey and Co., NTT DATA Corp., PricewaterhouseCoopers LLP, Roland Berger Holding GmbH and Co. KGaA, Tata Consultancy Services Ltd., and Wipro Ltd..

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Consulting Services Segment Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.2%

Market growth 2024-2028

USD 134.9 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.5

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 38%

Key countries

US, China, Japan, Germany, UK, France, South Korea, Spain, India, and Brazil

Key companies profiled

Accenture PLC, Bain and Co. Inc., Boston Consulting Group Inc., Capgemini Services SAS, CGI Inc., Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Ernst and Young Global Ltd., FTI Consulting Inc., Gartner Inc., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., KPMG International Ltd., McKinsey and Co., NTT DATA Corp., PricewaterhouseCoopers LLP, Roland Berger Holding GmbH and Co. KGaA, Tata Consultancy Services Ltd., and Wipro Ltd.

Market Driver

The consulting services market is experiencing a notable transition towards sustainability, as businesses increasingly prioritize environmentally responsible practices. This trend is reflected in recent strategic moves by leading consulting firms. In September 2024, CBRE Romania strengthened its Environmental, Social, and Governance (ESG) and Sustainability Solutions division through a partnership with Access4you, a Hungarian company known for building accessibility certification. Similarly, global professional services firm EY expanded its sustainability consulting offerings with the acquisition of Denkstatt in April 2024. This acquisition allows EY to provide extensive support on sustainability matters, from business alignment to regulatory compliance and report review. Synergies in key megatrend areas, including artificial intelligence, blockchain, and data science, further bolster EY’s sustainability solutions. The market’s heightened focus on sustainability stems from the need to help businesses adopt eco-friendly and socially responsible practices. Strategic partnerships and acquisitions are essential for consulting firms to expand their sustainability capabilities and deliver comprehensive solutions, a trend that is anticipated to persist, fueling the growth of the global consulting services market. 

Consulting services continue to be in high demand as businesses seek external expertise for strategic decision-making during digital transformations. Technology-driven consulting, including AI, machine learning, automation, and cloud-based platforms, are key trends. Cybersecurity, remote working, and operations consulting are also important areas of focus. Climate control and net zero strategy, decarbonization consulting, and human resources are also growing segments. Consulting firms offer services in various industries such as life sciences, financial services, energy, and technology. Client expectations prioritize operational performance, strategic planning, and IT consulting. Independent consultants and boutique businesses also play a significant role in providing specialized expertise. ML and technology advisory are essential for businesses aiming to stay competitive. 

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 Market Challenges

The consulting services market faces a growing vulnerability to cybersecurity threats, with an increasing number and complexity of incidents targeting businesses in this sector. Consulting, accounting, and legal services are prime targets due to the sensitive information they handle, such as intellectual property, legal documents, and client personally identifiable information (PII). Cybersecurity breaches can result in severe consequences, including financial losses, reputational damage, operational disruptions, employee stress, and regulatory scrutiny. Consulting firms, in particular, face unique challenges due to their complex vendor ecosystems and stringent regulatory requirements. Ransomware attacks have become prevalent, with law firms accounting for 46% of incidents. Consulting firms are at risk due to the highly sensitive nature of their data and their reliance on third-party vendors. The digitization of operations in the professional services sector offers efficiency and convenience but also heightens the risk of cyber threats. To mitigate these risks, professional services firms must adopt comprehensive cybersecurity strategies. This includes understanding specific threats, implementing security measures, continuous monitoring and response capabilities, investing in advanced cybersecurity technologies, fostering a culture of security awareness among employees, and developing strong vendor management practices. Compliance with regulatory requirements is also crucial in protecting against cyber threats. Cybersecurity challenges pose a significant risk to the growth of the consulting services market during the forecast period.In today’s business landscape, consulting services play a vital role in helping organizations overcome various challenges. Remote working, a new norm, brings unique complexities to operations consulting, supply chain management, and process management. Ensuring resilient supply chains, climate control, net zero strategy, and decarbonization consulting are essential for businesses in various sectors like life sciences, financial services, energy, and more. Human resources, IT and telecommunications, technology advisory, and ML require strategic planning and operational performance improvement. Client expectations demand technology investment in areas like cloud computing and ESG activities. Consulting firms offer management, technology, and strategy consulting services to meet these needs. Independent consultants and boutique businesses also play a role in providing specialized expertise. Overall, consulting services help businesses navigate operational efficiency, technology investment, and industry-specific challenges.

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Segment Overview 

This consulting services segment market report extensively covers market segmentation by

Type 1.1 Management consulting1.2 IT Consulting1.3 Financial Consulting1.4 Marketing Consulting1.5 OthersConsumer 2.1 Large enterprises2.2 Small and medium enterprisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Management consulting- The management consulting segment within the global consulting services market plays a pivotal role in addressing the strategic and operational needs of businesses across diverse sectors. This segment focuses on enhancing organizational performance by analyzing existing business issues and proposing improvement plans. Management consulting services encompass strategy, operations, and technology consulting. Strategy consulting assists organizations in defining long-term goals and identifying optimal paths to reach them, offering insights on market entry strategies, competitive analysis, and business model innovation. Operations consulting optimizes internal processes, such as supply chain management, process improvement, and efficiency enhancement, to streamline workflows, reduce costs, and boost productivity. In July 2024, Accenture announced its intention to acquire Camelot Management Consultants, a German firm specializing in SAP-focused management and technology consulting. This acquisition aims to strengthen Accenture’s capabilities in SAP and AI-driven supply chain solutions. By integrating Camelot’s expertise, Accenture intends to help clients develop intelligent and resilient supply chains, which are essential in today’s competitive business landscape. The management consulting segment’s continuous advancements and acquisitions position it for sustained growth and innovation, contributing to the expansion of the global consulting services market.

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Research Analysis

Consulting services refer to professional expertise provided by external firms to organizations for strategic decision-making and implementation. These services cover various industries, including technology, finance, energy, healthcare, and life sciences, among others. Consulting can help businesses navigate digital transformations through technology-driven consulting, data analytics, AI, machine learning, automation, virtual reality, and augmented reality. Cloud-based platforms, cybersecurity, human resources, legal firms, and labor laws are also common areas of consulting. Technology advisory, IT and telecommunications, and operations consulting are crucial for operational performance and efficiency. Strategy consulting, management consulting, and banking consulting offer valuable insights for long-term growth and success.

Market Research Overview

Consulting services refer to professional expertise provided by external firms or independent consultants to organizations for strategic decision-making and operational improvement. These services cover various domains such as digital transformations, technology-driven consulting, data analytics, AI, machine learning, automation, virtual reality, augmented reality, cloud-based platforms, cybersecurity, and more. Consulting firms offer expertise in areas like digital transformation, remote working, operations consulting, supply chain management, process management, resilient supply chains, climate control, net zero strategy, decarbonization consulting, human resources, IT and telecommunications, technology advisory, life sciences, financial services, energy, and more. Client expectations include operational performance, technology investment, cloud computing, ESG activities, and more. Consulting services help organizations navigate complex business challenges, leverage technology, and optimize operations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeManagement ConsultingIT ConsultingFinancial ConsultingMarketing ConsultingOthersConsumerLarge EnterprisesSmall And Medium EnterprisesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

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SOURCE Fibocom Wireless Inc.

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DR. PHONE FIX ANNOUNCES SECOND TRANCHE CLOSING OF NON-BROKERED CONVERTIBLE DEBENTURE UNIT FINANCING

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, July 18, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) is pleased to announce that, further to its news release dated May 19, 2026 and June 24, 2026 (the “Prior News Releases”), it has closed the second tranche of its non-brokered private placement (the “Offering”) of convertible debenture units of the Company (each, a “Unit”). The Company issued 726 Units, at a price of $1,000 per Unit, for aggregate gross proceeds of $726,000. Each Unit is comprised of (i) one $1,000 principal amount unsecured convertible debenture of the Company (a “Convertible Debenture”) and (ii) 3,125 common share (“Common Share”) purchase warrants of the Company (each, a “Warrant”). Additional detail on the Offering, including terms of the Convertible Debentures and Warrants, is set out in the Prior News Releases.

In connection with the Offering, the Company paid a finder’s fee consisting of an aggregate cash fee of $50,820 and issued an aggregate of 317,625 common share purchase warrants of the Company (each, a “Finder’s Warrant”) to certain qualified arm’s length parties. Each Finder’s Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $0.22 prior to the date that is 24 months from the date of issuance.

All securities issued pursuant to the Offering, including any Common Shares issuable upon conversion of the Convertible Debentures or exercise of the Warrants and Finder’s Warrants, are subject to a statutory hold period of four months and one day from the closing of the Offering, in accordance with applicable securities laws and TSX Venture Exchange (the “TSXV”) policies. 

The Offering remains subject to final acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is a national, award-winning, eco-friendly, and customer-centric leader in Canada’s cell phone and electronics repair and certified pre-owned device industry. Founded in 2019, the Company now operates 44 retail locations nationwide through a standardized and scalable operating platform designed to support consistent execution across multiple markets, delivering fast, reliable, and environmentally conscious repair services alongside a curated selection of certified pre-owned devices and premium accessories. Dr. Phone Fix maintains strong partnerships with OEMs and certified suppliers, ensuring consistently high-quality standards across its national footprint. With a focus on responsible device lifecycle management, customer service, and operational discipline, Dr. Phone Fix continues to set the benchmark for device care and resale in Canada.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the final acceptance of the Offering by the TSXV; and the expected use of proceeds following the closing of the Offering. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; the TSXV will provide its final acceptance of the Offering; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV final acceptance for the Offering; the potential failure to complete the balance of the Offering or to raise the full anticipated gross proceeds; market conditions and investor demand for the Company’s securities; the Company’s inability to deploy the proceeds as currently intended; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

 

SOURCE Dr. Phone Fix

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