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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..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

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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AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

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Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it!  AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

 

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SOURCE HUAWEI

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Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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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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