South Africa Consulting Industry Report 2022: A $20+ Billion Market in 2023 - Focus on Management Consulting and Business Advisory Services - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 3, 2023--
The “South Africa Consulting Industry: A Research-based Proposition for Investment Purposes” report has been added to ResearchAndMarkets.com’s offering.
The management consulting and business advisory services industry forms part of the knowledge industry. It is forecasted to grow to US$20.11bn in 2022 and US$20.6bn in 2023 from US$19.5bn in 2021.
The sector has been affected by the pandemic, which limited in-person consultations and travel and resulted in several clients cancelling projects, as well as allegations that several big management consulting firms, including McKinsey & Company and Bain & Company, were implicated in corruption by the state capture enquiry.
Some mid-tier and boutique management consultancies have been able to capitalise on the crisis. Demand for consulting and business advisory services is rising, driven by clients looking for help with digital transformation, which increased during the pandemic.
Enterprise and supplier development (ESD) and turnaround and business rescue consulting also represent growing opportunities for business consultants. Knowledge management is becoming increasingly driven by digital tools.
Management consultancies and business advisory firms form part of the broader consulting industry.
SA has a well-established consulting sector and regarded as mature based on global standards. As part of the knowledge industry, economic activity in the sector, centers on the provision of professional value-added information and knowledge-based services that seek to enhance the efficacy of business strategies and optimise operational processes and organisational performance.
Advisory firms and management consultancies provide services to businesses and organisations across all sectors of the economy including the public sector. External consultants are generally engaged on a temporary basis to provide objective advisory services and support in identifying, analysing and resolving issues.
Consulting is a high margin industry, using various charging models incl project fees, hourly rates and retainers.
South Africa’s business and management consulting industry is multi-dimensional and diversified in nature.
The sector is characterised by high levels of fragmentation and differentiation, with players ranging from freelance independent sole proprietors to major multinational consulting firms. It is not uncommon for independent practitioners to be engaged by their former employers. Many university professors and lecturers also consult on matters in their fields of expertise.
Smaller boutique consultancies, which tend to target specific niche markets, have generally adopted a more focused approach. Players in this segment include broad-based black economic empowerment (B-BBEE) management consultancies, sourcing advisory firms and environmental consultancies. The scope of the services offered by large established firms is generally much broader.
Management consulting comprises three main segments: operations consulting; strategy consulting; and human resources (HR) consulting/human capital advisory services. Business process improvement, operational problem solving and building sustainable competitive advantages are key elements of management consulting and business advisory services.
Key Topics Covered:
- Accenture (South Africa) (Pty) Ltd
- AYO Technology Solutions Ltd
- BDO South Africa Inc
- Ernst and Young Advisory Services
- KPMG Services
- Deloitte South Africa
- PricewaterhouseCoopers Inc
- Tata Consultancy Services
- Business Partners Ltd
- Kreston SA
- IBM South Africa
- Gauteng Growth and Development Agency
- NMG C and A Holdings
- Moore South Africa
- IQ Business
- SizweNtsalubaGobodo Grant Thornton
- Korn Ferry
- Bain and Company
- McKinsey and Company
- Trade and Investment KwaZulu-Natal
For more information about this report visit https://www.researchandmarkets.com/r/g58zzo
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KEYWORD: AFRICA SOUTH AFRICA
INDUSTRY KEYWORD: CONSULTING OTHER PROFESSIONAL SERVICES PROFESSIONAL SERVICES
SOURCE: Research and Markets
Copyright Business Wire 2023.
PUB: 01/03/2023 12:51 PM/DISC: 01/03/2023 12:51 PM