Global Consulting Survey 2024-25

Introduction

The consulting sector is at a pivotal juncture, facing significant opportunities and challenges. It is undergoing a profound transformation, driven by several key trends that are reshaping how firms deliver value to clients. Acuity Knowledge Partners conducted a global online survey of 100+ representatives, including senior stakeholders from strategy/management consulting firms and business advisory firms, besides independent strategy consultants.
The survey was aimed at assessing consultants’ strategic priorities and understanding current trends, challenges and opportunities in the consulting sector. Our respondents shared their perspectives on four distinct aspects impacting the consulting sector – growing demand for specialisation, innovation in sales and marketing, the impact of evolving regulations and the increasing number of collaborations and partnerships in the sector.

Key Takeaways

• Specialisation in consulting is rapidly becoming the norm as clients demand more targeted expertise to address increasingly complex challenges

  • Most of the consultants surveyed expect strong demand for specialised solutions, driven primarily by growing demand for expertise in niche areas, increased competition and technological advancements

  • However, a few challenges – such as those relating to budget constraints, upskilling and talent shortages – remain

• Consultants are more focused than ever on driving innovation in sales and marketing consulting practices

  • Consulting firms are increasingly leveraging digital tools and techniques, including AI and data analytics, and are adopting customer-centric approaches to innovate their sales and marketing practices

  • Our survey results reveal a high level of innovation within these strategies, with a strong emphasis on cross-departmental collaboration to drive creativity and efficiency; however, challenges such as budget constraints and a lack of skilled personnel remain

• Evolving regulations are exerting significant influence on the consulting landscape, requiring consulting firms to stay updated and compliant

  • Most of the respondents highlighted increased compliance costs, altered project timelines and the need for additional resources as the major impacts of evolving regulations

  • Firms are investing in compliance training and leveraging technology to navigate the challenges effectively

• Collaboration and partnerships are also emerging as vital components of the consulting sector

  • Most survey respondents view collaboration and partnerships positively, citing market competitiveness, service expansion, capability enhancement and new market entry as key drivers of strategic alliances

  • Data analytics and AI are emerging as the key focus areas of collaboration for consulting firms

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