Press release
Optimizing Operations And Enhancing Security: Transformative Forces Shaping the Technology Advisory Market Landscape in 2025
Technology Advisory
What Is the Expected CAGR for the Technology Advisory Market Through 2025?
Over the past few years, the size of the technology advisory market has been increasing consistently. The market is expected to expand from $160.51 billion in 2024 to $167.32 billion in 2025, registering a compound annual growth rate (CAGR) of 4.2%. Several factors such as the necessity for digital transformation, concerns and threats related to cybersecurity, the need for regulatory compliance and governance, modernizing outdated systems, as well as data analytics and business intelligence have contributed to growth during the historical period.
What's the Projected Size of the Global Technology Advisory Market by 2029?
In the upcoming years, the technology advisory market is projected to experience robust growth, expanding to $205.22 billion by the year 2029 at a compound annual growth rate (CAGR) of 5.2%. Factors driving growth over the forecast period include the rise of cloud computing, the integration of AI and machine learning, an emphasis on sustainable and green IT, e-commerce and digital marketing practices, and resilience planning and business continuity. Noteworthy trends to watch during the forecast period encompass sustainable technology practices, green IT consultancy, the creation of digital transformation roadmaps and strategy, guidance on 5G deployment for connectivity and innovation, advice on biometric and facial recognition technology, and consultations on collaboration tools and remote work technology.
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Top Growth Drivers in the Technology Advisory Industry: What's Accelerating the Market?
The escalating demand for streamlining business operations and IT expenditure monitoring plays a significant role in propelling the technology advisory market's growth. Firms offering technology consultation aid businesses in embedding technology within their operations, thereby enhancing experiences, optimizing business processes, cutting down expenses, and extracting maximum value from technology-based opportunities. These firms assist businesses in managing cybersecurity threats and ensuring data protection. For example, Louis Vuitton employs technology consulting for building small modules within their business and IT strategy and IT governance, which supports effective operations. Moreover, corporations like Canon and Samsung utilize technology advice for the optimization of their operations and the reduction of IT expenses. Technology advisory service providers enable businesses to concentrate more on their primary operations, access cutting-edge technology, and decrease the likelihood of hardware failure, virus and spyware intrusions as well as database corruption.
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What Trends Will Shape the Technology Advisory Market Through 2029 and Beyond?
AI is a rapidly emerging trend that is making significant strides in numerous business procedures. It is a blend of various technologies that enable machines to perceive, comprehend, and react. AI assists companies in identifying and addressing business challenges and generating tangible business benefits. It aids in the creation of hardware infrastructure - either in-house or cloud-based, in the collection and analysis of huge data, and in ensuring the adaptability of computing resources. For example, in September 2022, Tech Mahindra introduced YANTR.AI, a cognitive AI solution that automates and simplifies field services. YANTR.AI boosts operational effectiveness, productivity, and workflow management by integrating advanced analytics, AI, machine learning, and optimization with human interaction, enabling field operations to be heavily automated and thus enhancing efficiency and customer satisfaction. As advancements in AI technology continue each day, its significance in data expertise, business operations, and workflow management is experiencing substantial growth.
What Are the Main Segments in the Technology Advisory Market?
The technology advisory market covered in this report is segmented -
1) By Service: Application Development, Cloud Services, Cybersecurity And Privacy, Data And Analytics, Technology Strategy And Enterprise Architecture, Other Services
2) By Enterprise Size: Large Enterprise, Small And Medium Enterprise
3) By End Use: Banking, Financial Services, Healthcare, IT And Telecom, Government, Other End Uses
Subsegments:
1) By Application Development: Custom Software Development, Mobile Application Development, Web Application Development
2) By Cloud Services: Cloud Migration Services, Cloud Infrastructure Management, Cloud Security Services
3) By Cybersecurity And Privacy: Risk Assessment And Management, Compliance Consulting, Incident Response And Recovery
4) By Data And Analytics: Business Intelligence Solutions, Data Management And Governance, Advanced Analytics And AI Solutions
5) By Technology Strategy And Enterprise Architecture: IT Strategy Development, Enterprise Architecture Planning, Digital Transformation Consulting
6) By Other Services: IT Project Management, Training And Change Management, Emerging Technology Advisory
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Which Top Companies are Driving Growth in the Technology Advisory Market?
Major companies operating in the technology advisory market include Deloitte Touche Tohmatsu Limited, International Business Machines Corporation, PricewaterhouseCoopers LLP, accenture* plc, Ernst & Young Global Limited, Oracle Corporation, KPMG International Cooperative, Fujitsu Limited, Tata Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, McKinsey & Company, BDO Global, The Boston Consulting Group Inc., Atos SE, Wipro Limited, Dell Technologies Inc., Booz Allen Hamilton Inc., Grant Thornton International Ltd, Gartner Inc., Bain & Company Incorporated, HCL Technologies Limited, FTI Consulting Inc., Oliver Wyman, Alvarez & Marsal Holdings LLC, PA Consulting Group, Navigant Consulting Inc., Catalyst Consulting Group Inc., West Monroe Partners LLC, Mindtree Limited, Slalom LLC
Which Regions Will Dominate the Technology Advisory Market Through 2029?
North America was the largest region in the technology advisory market in 2024. Western Europe was the second largest region in the global technology advisory market share. The regions covered in the technology advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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