An Unexpected Growth in U.K. Management Consultancies
With knowledge being democratised and information becoming more and more accessible to anyone, the role of management consultants is rapidly changing. Moreover, with more online platforms that connect business executives to relevant consultants, the role of the traditional 'firm' is being questioned. Management Consultants are in great demand.
The total UK business and management consulting market is currently worth over £81 billion. The research also suggests that the market can expect to expand to £87 billion by the end of 2019, with the industry bouncing back following a slowdown in growth over the past 12 months.
The UK's consulting industry employs circa 63,000 professionals, of which approximately 94% of them are consultants and 6% are supporting staff, says the MCA (Management Consultancies Association). Technology is the largest segment (28%) in the United Kingdom, followed by Finance & Risk (15%) and Operations (13%).
The MCA believes the UK consulting industry will remain buoyant. The landscape is changing, however, as a growing divide is being established between high- and low-value service providers. Demand is rising for consultants who can provide solutions to complex and novel problems, sparking a growing demand for firms that can staff multi-disciplinary teams. In addition, management consulting firms with an edge in digital are set to reap a larger share of overall growth. Source:consultancy.uk
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