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Summary of our market study
The global strategy consulting market, valued at approximately $45 billion in 2022, has been experiencing a healthy growth trend with an expected compound annual growth rate (CAGR) of 8.9% through to 2028. Despite potential limitations posed by data security and privacy, the market has been driven mainly by the increasing need for businesses to enhance their digital experiences. The industry is characterized by intense competition and a fragmented market structure with several key players, including T. Kearney Inc, Bain and Company, and Accenture PLC, among others.
In the face of growing competition, firms are leveraging mergers and acquisitions as a strategic growth pathway, as evidenced by the numerous takeovers identified from 2020 to 2022. The French market, specifically, has seen remarkable growth with strategy and management consulting reaching €8.8 billion in 2021, where strategy consulting accounts for 18.3% of this value.
Exploring the Dynamism of Strategy Consulting in France: A Market Driven by Transformation and Innovation
The strategy consulting market in France is a vibrant segment of the consulting industry, marked by a steady growth trajectory and the presence of both global giants and specialized local entities.
Companies operating within this market provide a wide range of services, addressing everything from business portfolio reviews and COMEX reorganizations to the launch of novel offerings and the implementation of digital growth strategies. Notably, the French market has evolved significantly, with increased focus on cutting-edge areas like omnichannel strategies, corporate social responsibility (CSR), and digital transformation—all of which present fresh opportunities for strategy consulting firms to guide and support businesses through transformative endeavors.
The clientele of strategy consulting firms is diverse, spreading across various business sectors such as industry, consumer goods, the public sector, and investment funds. Demand for strategic consulting services is heavily influenced by the economic conditions, companies' investment capacities, and the urgent need for transformation faced by businesses.
Indeed, in a climate of robust GDP growth and a buoyant business climate, French companies are showing a greater appetite for investment, especially in service sectors. However, the digital and information-communications sectors stand out as the most active in terms of innovation, with a substantial proportion of companies in these areas reporting innovations between 2018 and 2020.
Corporate executives in France have pinpointed talent management, CSR, efficiency enhancement, cost optimization, and process automation as their top strategic priorities. The increasing emphasis on CSR is particularly noteworthy; not only has it become intricately woven into corporate strategies, but it also influences every aspect of business, carving out a niche for consultancies specializing in this domain.
The value chain of strategy consulting firms leans heavily on both support activities (such as human resources management and marketing) and primary activities (such as client relationship management and direct consulting services).
French strategy consulting market includes world-class firms like McKinsey, BCG, Bain & Company, as well as homegrown generalists and specialists in digital transformation. These entities are diversifying their offerings, with recent trends showing significant attention towards digital integration, CSR, change management, and organizational transformation services. Competition within the French strategy consulting arena is intensifying, which has led firms to pursue mergers, acquisitions, and talent recruitment aggressively.
Strategic Choreographers: The Leading Players Shaping the Strategy Consulting Landscape
Within the dynamic realm of strategy consulting, a group of premier firms stands out, each with its unique strengths and specializations. These organizations play a pivotal role in guiding corporations through the complexities of market trends, technological advancements, and regulatory challenges.
- McKinsey & Company: A vanguard of the consulting industry, McKinsey is renowned for its deep insights across diverse sectors. Operating with a vast network of offices and experts, the firm offers comprehensive strategic support, from market entry analysis to organizational restructuring.
- The Boston Consulting Group (BCG): As a titan of strategic thought, BCG is synonymous with innovation in consulting. Their global presence and rich expertise allow them to provide cutting-edge solutions and strategies tailored to their clients' ambitious goals.
- Bain & Company: With a keen focus on client outcomes, Bain is known for its collaborative approach and deep industry knowledge. The firm's commitment to delivering actionable strategies has cemented its reputation as a trusted advisor to many leading businesses.
- Kearney: Offering strategic counsel with an operational edge, Kearney's expertise in the intersection of business strategy and implementation sets them apart. Their hands-on approach ensures that advice is not just conceptual but also grounded in practicality.
- Oliver Wyman: A firm that combines sharp industry focus with specialized capabilities, Oliver Wyman supports clients eager to navigate complex markets and regulatory landscapes. Their robust research and analytics capabilities underpin their strategic recommendations.
- Roland Berger: Europe's original strategy consultancy, Roland Berger holds a unique position with its blend of strategic acumen and entrepreneurial spirit. Clients value their tailor-made solutions and the firm's commitment to sustainable business practices.
- Accenture Strategy: As an arm of a larger technology services giant, Accenture Strategy delves into the intersection of business strategy and technological innovation. Their prowess in digital transformation is unmatched, providing clients with the tools to thrive in the digital era.
- EY-Parthenon: With an eye for transformative strategies, EY-Parthenon brings to the table a combination of analytical rigor and deep-seated industry knowledge. As part of a wider global professional services network, they offer a blend of strategic foresight and practical insights.
- Strategy& (PwC): An integral part of the PwC network, Strategy& capitalizes on the firm's expansive expertise in various sectors. Their strategic solutions are infused with rigorous analysis, helping clients chart new territories with confidence.
- KPMG GSG: Part of KPMG spécialised in strategic consulting.
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Summary and extracts
1 Market overview
1.1 Definition and presentation
The market for strategy consulting firms in France refers to the economic activity related to these firms. This is a consultancy business aimed at helping company directors define corporate strategy.
The global market for strategy consulting firms is worth around US$60 billion, and is expected to grow at a sustained rate of close to 9% per annum over the coming years. Among the most influential players in the global market are: T. Kearney Inc, Bain and Company, Accenture PLC, Deloitte, The Boston Consulting Group, Booz Allen Hamilton Inc, Ernst & Young Ltd. and CGI Group Inc.
In France, the market is worth around €9 billion, and has grown considerably in recent years.
The very positive results achieved by this branch of the consulting industry show that it has been able to adapt its offer to its customers, i.e. to propose new services in line with the changing priorities of the companies that consult them. The most common strategy consulting assignments in 2024 include the following:
- Business portfolio review
- COMEX reorganization
- Launching new offers
- Implementing digital growth strategies
1.2 The global market
The consulting market is estimated at $** billion in ****. CAGR is expected to be around *.*%.
The main drivers of growth are: the growing need to improve customers' digital experience is expected to be one of the main market drivers, although factors such as data security and privacy may limit growth.
Among consultancies, ...
1.3 The French market
The business consulting market
Using NAF code **.**Z, all the above activities are included:
consulting and operational assistance to companies and public services in the following areas : design of accounting methods or procedures, expense accounting programs, budgetary control procedures
advice and assistance to companies and public services in planning, organization, performance ...
2 Demand analysis
2.1 Typology of demand
The clients of strategy consulting firms are extremely varied. Consultants work on issues specific to any business unit, whatever the size of the company in question (***).
All sectors are represented among our customers: industry, consumer goods, the public sector, investment funds, etc.
The determinants of demand for strategy consulting services are ...
2.2 Economic conditions and activities of French companies
GDP growth and business climate
Strategy consulting firms are benefiting from a favorable economic climate. Indeed, both global and French GDP have rebounded strongly after a pandemic-related decline.
This GDP growth is primarily linked to a recovery in consumption and business investment, thanks in particular to the stimulus plan.
The graph ...
2.3 Strategic priorities for French companies
TOP * strategic priorities for executives in **** according to Robert Half
According to a study carried out by Robert Half, the number * priority for executives is talent management:
**% say the pandemic has brought new challenges in terms of identifying and recruiting talent **% of managers say they are concerned about their ability ...
2.4 A customer base mainly composed of SMEs and VSEs
The majority of strategy consultancy clients are very small businesses (***). The public sector accounts for **% of strategy consulting clients.
Breakdown of consulting firms' customer base France, ****, in Source: ****
3 Market structure
3.1 Consulting firms' value chain
Strategy consulting firms rely on two types of resources:
support activities human resources management marketing and communications iT or research departments
primary activities : senior and partner activities in customer relationship management consultant activities in proposing the offer consultant activities in carrying out the assignment
Human resources management is of crucial importance ...
3.2 A market with diversified players
3.3 Increased competition
New entrants and competitive intensity
There are many new entrants to the strategy consulting sector, facilitated by the fact that barriers to entry are relatively low.
As a result, there are a number of new players:
like leading communications companies such as Havas or Publicis, who are launching their own consulting ...
3.4 Recruitment: a key stage
Strategy consulting firms rely solely on the skills and know-how of the consultants they recruit. As a result, the emphasis placed on human resources and the resources committed to recruiting consultants are greater than in other sectors.
Profiles sought by strategy and management consulting firms France, ****, as % of total Source: ****
As ...
4 Offer analysis
4.1 Types of consulting services
When it comes to strategy and management consulting, there are many sub-offers. The graph below shows the breakdown of the offer in ****.
Breakdown of the strategy and management consulting offering France, ****, in Source: ****
Pure strategy consulting activities are carried out in different sectors and on different issues. Strategy consulting encompasses assignments ...
4.2 Pricing
There are several models of remuneration in the consulting world. The Portailduconseil.fr website lists * of them:
*. Time-based payment: Once a schedule has been drawn up, the number of days the consultant is expected to spend is multiplied by an hourly or daily rate. **% of the amount is paid at ...
4.3 Offer diversification and specialization
Strategy consulting firms are diversifying their offering and increasingly specializing in sectors that will be at the heart of trends over the next few years.
Trends in strategy and management consulting assignments over the next three years France, ****, in number of respondents Source: ****
There is a major consensus on the strong ...
5 Regulations
5.1 Current regulations
Installation constraints
Access to the profession involves few constraints. Only certain activities require specific formalities: trainers, in particular, must obtain an approval number from the prefecture and submit a pedagogical and financial report every year before April ** (***).
as of January *ᵉʳ, ****, all formalities relating to business creation will be carried out via ...
5.2 Consulting firms and the public sector: towards new regulations?
Following the various scandals that have affected the profession, notably the McKinsey affair and the government's vaccine strategy, a bill aimed at better regulating the use of private consulting firms by administrations and limiting their growing influence on public policy was tabled in Parliament in June ****.s by administrations and limit ...
List of charts presented in this market study
- Global strategy consulting market forecast
- Growth in sales of business consulting services
- Breakdown of the strategy and management consulting market
- GDP growth (annual %)
- Business climate trends
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Latest news
Scalian strengthens its position in cybersecurity with Spanish company Dulin - 02/04/2024
- Engineering group Scalian acquires Spanish cybersecurity and access and identity management consultancy Dulin.
- The company, founded in 2015 in Madrid, employs just 35 people, with sales of 5 million euros.
- In five years, the group has grown from 50 to 400 cybersecurity consultants.
- scalian had already acquired the 200-strong Spanish engineering company Indizen in 2020, which specializes in big data and AI for banks.
- It now employs 600 people in Spain.
- In 2022, it acquired HR Team in Paris, which employs 50 cybersecurity experts.
- Since its takeover in 2015, the group has increased its sales ninefold, to 550 million euros in 2023 with 5,500 employees
Defense: AI nugget Preligens hopes for a buyer by mid-April - 28/03/2024
- -Fondation de Preligens (ex-Earthcube): 2016.
- -Shareholder expectations for the sale: around 300 to 350 million euros.
- -Expected sales for current year: 35 million euros.
- - Share of internationalization in sales: over 15%.
- -Expected profitability for current year: around 4 million euros.
- -Framework contract with the French Ministry of the Armed Forces: 240 million euros over seven years.
Baker Tilly is recruiting 300 people this year - 29/02/2024
- Baker Tilly hired 300 new employees last year, and plans to hire as many in 2024.
- Baker Tilly aims to reach 2,300 employees in its network of 60 offices in France.
- Baker Tilly strengthened its CSR division in 2023 with the acquisition of software publisher Act21.
- The company completed four external growth operations last year.
- By 2023, Baker Tilly's sales had risen by 17% to €188 million
- The company aims to double its sales to 400 million euros by 2030.
- Public accounting now accounts for only 50% of the company's business, with auditing and consulting accounting for the remainder.
For KPMG, hourly billing of consultants is no longer relevant - 16/01/2024
- KPMG has invested 5 billion euros in tool development and training in the field of big data and AI worldwide over the past five years.
- KPMG France's overall sales grew by 7% in 2023, to €1.47 billion.
- KPMG's consulting business grew by 14% to 482 million euros.
- KPMG's support services for mid-sized companies increased by 12.9%.
- KPMG expects the value of audit mandates to double over the next three years.
- KPMG's recruitment rate maintains the same annual pace of over 7%, with 2,700 new hires by 2023.
Consulting: Baker Tilly aims to double sales in 2030 - 06/12/2023
- Objective: double sales to 400 million euros by 2030
- Baker Tilly currently generates sales of €188 million
- The group targets the SME and ETI market, and is seeking to strengthen its presence in the main French conurbations
- The group has diversified its services, with a focus on digital consulting and CSR
- Public accounting represents 50% of its business Baker Tilly operates through a network of 60 offices in France, employing over 2,000 people
- The group also aims to strengthen its ties with the 145 member countries of the Baker Tilly international network to develop synergies in their respective markets.
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The market for strategy consulting firms | France
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