Technology Advisory Market Expansion Continues, with Forecast Valuation of $205.17 Billion by 2029

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What Will the Technology Advisory Industry Market Size Be by 2025?
The market size of the technology advisory sector has experienced a consistent growth recently. The growth is expected to continue from $159.78 billion in 2024 to $166.63 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.3%. The surge during this historic period can be credited to essential digital transformations, cybersecurity issues and threats, regulatory adherence, governance, the necessity to modernize legacy systems, and data analytics combined with business intelligence.

What's the Long-Term Growth Forecast for the Technology Advisory Market Size Through 2029?
It is anticipated that the technology advisory market will undergo robust expansion in the upcoming years. By 2029, its worth is predicted to surge to $205.17 billion with a compound annual growth rate (CAGR) of 5.3%. Factors stimulating growth during the projection period include the adoption of cloud computing, integration of AI and machine learning, an emphasis on sustainable and green IT, implementation of e-commerce and digital marketing strategies, and the focus on resilience planning and business continuity. Key trends during this interval will be practices linked to sustainable technology and green IT consulting, formulation of digital transformation strategies and roadmaps, advisory on 5G application for connectivity and innovation, guidance on biometric and facial recognition technology, and advising on remote work technology and collaboration tools.

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What Are the Key Growth Drivers Fueling the Technology Advisory Market Expansion?
The surge in demand to streamline business operating models and monitor IT investments is a key catalyst for the growth of the technology advisory market. Consulting agencies specialising in technology aid firms in incorporating technology into their operations, resulting in improved experiences, business process enhancement, cost reduction, and full utilisation of tech-related opportunities. These advisory services also assist businesses in tackling cybersecurity issues and ensuring data protection. For example, Louis Vuitton employs technology consulting to form smaller sections in business and IT strategy and IT governance for efficient operation. Furthermore, corporations like Canon and Samsung are utilising tech advice to maximise their operations and cut down on IT expenses. Services from technology advisory firms enable businesses to concentrate more on their prime operations, stay updated with the latest technology, and reduce the chances of hardware malfunction, virus and spyware intrusions, and database corruption.

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What Are the Key Trends Driving Technology Advisory Market Growth?
Artificial Intelligence (AI) is emerging as a dominant trend infiltrating various business operations. Composed of numerous technologies, AI equips a machine with the ability to sense, interpret, and act. It aids companies in detecting and addressing business issues while driving quantifiable business worth. AI is instrumental in constructing hardware infrastructure, be it on-premise or cloud-based, in the ingestion and assessment of vast data, and in promoting the adaptability of computational resources. Take for example Tech Mahindra, which in September 2022, introduced YANTR.AI, a cognitive AI solution that streamlines and automates field services. YANTR.AI bolsters operational efficiency, productivity, and workflow monitoring by fusing advanced analytics, artificial intelligence (AI), machine learning (ML), and optimization with human elements. This enables field operations to be hyper-automated, consequently improving efficiency and customer contentment. With daily enhancements in AI technology, its significance in data expertise, business procedures, and workflow administration is escalating.

How Is the Technology Advisory Market Segmented?
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 Companies Are Leading the Charge in Technology Advisory Market Innovation?
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 Are Leading the Global Technology Advisory Market in Revenue?
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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