Operation Consulting Market 2019 Trends: Manufacturers Unshared, Unique Game Plan: IBM, Deloitte Consulting, Accenture, McKinsey & Company, PwC, The Hackett

Operation consulting services, also known as operations management, are defined as advisory and/or execution facilities that develop a company's internal operations and performance in the value chain system. The demand for business operations consulting services has been increasing over the last few years due to an increase in globalization, digitization of business and operating models and rise in the need to manage risk and enhance sustainability. The main key drivers of the global operations consulting service market are cost-cutting and downsizing that has led to the improvements in diverse business processes.

Furthermore, the operations consulting service market growth is also dependent on the transformation in the operational aspects of organizational domains like finance, HR, and marketing. However, potential changes in regulation and requirement of highly qualified personnel may negatively affect the operations consulting service market globally.

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The global operations consulting service market is fragmented on the basis of organization size, verticals, and application. Based on organization size, the market includes large enterprises and small and medium enterprises. The small and medium enterprises segment is expected to account for the largest market share in terms of revenue in 2018 and register the highest CAGR over the forecast time period. This can be attributed to the increase in the number of operations consultancy firms.

By vertical, the market is categorized into aerospace and defense, BFSI, Healthcare, IT and telecom, construction and mining, automotive, entertainment and media, chemicals and materials, consumer goods, durables, and retail, semiconductor and electronics, manufacturing, transportation and logistics, and others (power and utility and travel and tourism). The BFSI segment led the market with the highest revenue share in 2018, due to the excessive use of operational services by this sector.

The application segment of the market includes supply chain, financial operations, human resource operations, project management, process management, manufacturing operations, and others. Supply chain and manufacturing operations dominated the market with the highest revenue shares in 2018, whereas financial operations are likely to be the fastest growing segment over the upcoming years.

North America dominated the global operations consulting service market with the highest revenue share in 2018, due to the developed infrastructure facilities and high consulting services use to improve the performance in value chain system and reduction of production costs. North America is estimated to remain at the top position in the global market over the forecast time period, owing to the rising public and private funding for R&D. Additionally, the introduction of new techniques is another major factor contributing to this regional market. The U.S. is a major country for the North American operations consulting service market.

Europe contributed the second largest revenue share globally in 2018, due to the increase in R&D investments and the rise in the need for improved quality and lean management. Germany, France, and UK are major countries in the European operations consulting service market. UK is estimated to be the fastest growing country over the forecast time period.

The Asia Pacific operations consulting service market will register the highest CAGR over the forecast timeline, owing to the increasing awareness among the participants, rising use of technical assistance, and growing need for infrastructure development. China and Japan are dominant countries in the Asia Pacific operations consulting service market, whereas India is estimated to be a rapidly growing country that will register the highest CAGR over the forecast time period, owing to increase in the demand for total quality and supply chain management.

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Latin America is another significant regional market, which is estimated to witness moderate growth over the forecast period. Brazil contributed the largest revenue share in 2018 and is a major market in Latin America. The Middle Eastern and African operations consulting service market is likely to register slow growth over the upcoming years, owing to poor infrastructure and the lack of qualified personnel to offer consulting services.

Some key players operating in the global operations consulting service market include IBM, Deloitte Consulting, Accenture, McKinsey & Company, PwC, The Hackett, Riveron Consulting, KPMG, Agro Consulting, A.T. Kearney, and OCG Consultancy.

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