South Africa Consulting Industry Report 2022: A $20+ Billion Market in 2023 - Focus on Management Consulting and Business Advisory Services
Dublin, Jan. 03, 2023 (GLOBE NEWSWIRE) -- 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:
Introduction
General Consulting Market
The South African Consulting Industry
Ownership Distribution
Competitive Environment
Functional Analysis
Market Entry Modes
Opportunities Landscape
SA Local Government
Business Model
Company Structure
References
Companies Mentioned
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
DecisionInc
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/hqldvv
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900