Industry Statistics and Trends
Management Consultants in Europe key trends
COVID-19 hinders demand for management consultants.
Businesses aiming to preserve cash reduced spending on non-essential services like consultancy amid the COVID-19 outbreak. Though, some companies sought risk management and restructuring advice to help weather the challenging environment.
The digitalisation trend is boosting demand for IT consultants.
As European companies increasingly invest in telecoms and IT technologies to improve performance, they require specialist advice and strategies, expanding the market for IT strategy consultancies.
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Management Consultants in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Management Consultants in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 2.7 % over the past five years, to reach an estimated €374.7bn in 2024.
Trends and Insights
Volatile economic conditions have a significant impact on demand for consultants
- The COVID-19 outbreak slashed business sentiment and constrained demand for management consultants across Europe. Businesses were forced to cut back spending on some non-essential services, including consultancy services, to preserve cash.
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Management Consultants in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
A more favourable economic climate will encourage expansionary activities and spending on consulting
- Improving economic conditions and business optimism as inflation subsides will lift business investment, driving spending on management consultants.
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Revenue
€374.7bn
Employees
2m
Wages
€XX.Xbn
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
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Biggest companies in the Management Consultants in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Accenture plc | 64,128.6 | 8,637.5 | 13.5 | |
Deloitte Touche Tohmatsu Ltd | 1,304.5 | N/A | N/A | |
McKinsey & Company Inc | 12,421.3 | N/A | N/A |
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Management Consultants in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Management Consultants industry in Europe in 2024?
The market size of the Management Consultants industry in Europe is €374.7bn in 2024.
How many businesses are there in the Management Consultants in Europe industry in 2024?
There are 1m businesses in the Management Consultants industry in Europe, which has grown at a CAGR of 4.8 % between 2019 and 2024.
Has the Management Consultants industry in Europe grown or declined over the past 5 years?
The market size of the Management Consultants industry in Europe has been declining at a CAGR of 2.7 % between 2019 and 2024.
What is the forecast growth of the Management Consultants industry in Europe over the next 5 years?
Over the next five years, the Management Consultants industry in Europe is expected to grow.
What does the Management Consultants in Europe include?
IT strategy and Corporate strategy are part of the Management Consultants industry.
Which countries have the most businesses in the Management Consultants industry in Europe?
The European country with the most businesses in the Management Consultants industry is France.
How competitive is the Management Consultants industry in Europe?
The level of competition is moderate and increasing in the Management Consultants industry in Europe.
Related Industries
This industry is covered in 37 countries
- Management Consultants in Greece
- Management Consultants in Romania
- Management Consultants in Norway
- Management Consultants in Poland
- Management Consultants in Cyprus
- Management Consultants in Estonia
- Management Consultants in Iceland
- Management Consultants in Europe
- Management Consultants in Austria
- Management Consultants in France
- Management Consultants in Lithuania
- Management Consultants in the Netherlands
- Management Consultants in Switzerland
- Management Consultants in Finland
- Management Consultants in Slovenia
- Management Consultants in Bulgaria
- Management Consultants in Luxembourg
- Management Consultants in Russia
- Management Consultants in Slovakia
- Management Consultants in Italy
- Management Consultants in Sweden
- Management Consultants in Turkey
- Management Consultants in Latvia
- Management Consultants in Bosnia & Herzegovina
- Management Consultants in Spain
- Management Consultants in Portugal
- Management Consultants in Serbia
- Management Consultants in Belgium
- Management Consultants in Hungary
- Management Consultants in Czechia
- Management Consultants in Denmark
- Management Consultants in Malta
- Management Consultants in Croatia
Table of Contents
About this industry
Industry definition
Management consultants provide advice, guidance and operational assistance to businesses and other organisations on management issues. Principal areas of consultation include corporate strategic and organisational planning, marketing, human resources and operational management.
Related Terms
BIG FOURRESTRUCTURINGCORPORATE STRATEGYWhat's included in this industry?
IT strategyCorporate strategyProcess and operations managementProgramme or project managementRisk managementHuman capitalEconomic and regulatory consultingBusiness transformation consultingCustomer and marketing strategyEnvironmental consultingCompanies
Accenture plcDeloitte Touche Tohmatsu LtdMcKinsey & Company IncIndustry Code
702 - Management consultancy activities in Europe
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Performance
Key Takeaways
Volatile economic conditions have a significant impact on demand for consultants
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue CAGR
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Management Consultants in Europe industry (2011 -2029)
- Employees in the Management Consultants in Europe industry (2011 -2029)
- Business in the Management Consultants in Europe industry (2011 -2029)
- Profit in the Management Consultants in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Management Consultants in Europe industry?
Outlook
Analysis
What's driving the Management Consultants in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Management Consultants in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Management Consultants in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Technology adoption across the economy fuels IT strategy consulting. Rising digitalisation and tech advances encourage businesses to seek advice on digital strategy and the implementation of technology that boosts operational efficiency.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Management Consultants in Europe industry's products and services performing?
Analysis
What are innovations in the Management Consultants in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Management Consultants in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
The industry is highly fragmented, with many small specialist firms. This is due to the ease of establishing new consultancies and the move towards specialisation in specific industries and niche markets. Large firms have the resources to cover various consultancy services.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 7 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for Accenture plc
- Countries of operation for Deloitte Touche Tohmatsu Ltd
- Countries of operation for McKinsey & Company Inc
- Countries of operation for Ernst & Young Global Ltd
- Countries of operation for Boston Consulting Group Inc
- Countries of operation for Bain & Company Inc
- Countries of operation for Eurogroup Consulting France SAS
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
The EU Audit Regulation has an effect on management consultancy firms. Some larger firms provide both audit services and consulting services. The regulation from 2016 imposes restrictions on non-audit services, including management consultancy.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Management Consultants in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Consulting firms' profitability is under pressure due to increased competition. There is a growing number of consultancy firms operating in the industry, putting pressure on fees and constraining industry profit.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Management Consultants in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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