Technology Advisory Market (COVID-19 Impact Analysis) Size, Share, Growth, Trends 2020-2023
The global technology advisory market is expected to decline from $146.44 billion in 2019 to $145.23 billion in 2020 at a compound annual growth rate (CAGR) of -0.82%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The market is then expected to recover and reach $168.42 billion in 2023 at a CAGR of 5.06%.
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The technology advisory market consists of the sales of technology advisory services by entities (organizations, sole traders and partnerships) that provide advisory services to clients to identify, prioritize, design, and manage their investments in a range of advanced technologies. Technology advisory services provide consultancy on developing technology strategies, technology ideation and prototyping, design digital consulting services, and ways to enhance cybersecurity.
The increasing requirement for simplifying business operating models and IT investment monitoring is a major driver contributing to the growth of the technology advisory market. Technology consulting firms help companies in integrating technology in their business operations and creating better experiences, thereby improving business processes, reducing costs, and maximizing technology-based opportunities. Technology advisory firms also help companies in addressing cybersecurity concerns and keeping data safe.
Technology Advisory Market Segmentation:
1. Application development
2. Cloud Services
3. Cybersecurity and privacy
4. Data and analytics
5. Technology strategy and enterprise architechture
By End Use
2. Financial Services
4. IT & telecom
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Few Points From Table Of Content
1. Executive Summary
2. Technology Advisory Market Characteristics
3. Technology Advisory Market Size And Growth
4. Technology Advisory Market Segmentation
5. Technology Advisory Market Regional And Country Analysis
25. Technology Advisory Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Technology Advisory Market
27. Technology Advisory Market Trends And Strategies
28. Technology Advisory Market Future Outlook and Potential Analysis
The report covers the trends and market dynamics of the technology advisory market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the technology advisory market are Fujitsu Ltd, HCL Technologies Limited, Infosys Limited, Dell Technologies Inc, KPMG, IBM Corporation, Tata Consultancy Services Limited, Ernst & Young (EY), McKinsey & Company, Oracle Consulting, The Boston Consulting Group, Bain & Company, Deloitte, Booz & Co, Accenture PLC.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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