The global consulting industry is at moving at a stagnant pace or rather seeing a downfall during this coronavirus outbreak. However, the industry will project a considerable growth rate in the upcoming few months; post the end of the pandemic situation. Consulting is a people-based business and travel-heavy industry; owing to which the industry is experiencing a tumble, as the coronavirus safety model doesn’t blend well with the consulting industry requirements. The consultants spend over 80% of their working lives by living away from home and dealing with overseas clients, and the impose of the travel ban is limiting the traveling of consultants at the current situation. This is considerably hampering the growth of the global consulting industry. However, the industry will gain a significant focus once the outbreak gets over across the globe, as the need for management and financial advisory consultancy will grow among enterprises. 

The global consulting industry report is segmented based on the consulting types, including strategy consulting, management consulting, operations consulting, financial advisory consulting, HR consulting, and others. Amid these consulting solutions, management consulting is expected to get considerably impacted by this pandemic situation. After the end of this outbreak, the enterprises will definitely consult management consultants for the proper execution of tasks and management of data and workforce. Similarly, the financial advisory consulting will get a thrust after the end of this situation, as the enterprises coping with the loss occurred due to this outbreak will consult financial advisory consultants to upheaval with the circumstances.

In addition, the effect of COVID-19 on the consulting industry is analyzed from a geographical standpoint by including North America, Europe, Asia-Pacific, and Rest of the World in the report. Asia-Pacific and European countries are majorly impacted nations in the consulting market during this pandemic situation. China, Italy, Spain, Germany, UK, and France have been experiencing damage in the economy due to the rapid spread of the coronavirus. China, on being one of the largest industry-driven countries, will relatively need the consulting firms for the management of resources. 

Some of the companies operating in the global consulting market and get prominently affected with this outbreak include McKinsey & Co., Boston Consulting Group, Inc., Deloitte Consulting LLP, PwC, Bain and Co., Ernst and Young, Accenture PLC, KPMG, A.T. Kearney, Oliver Wyman, IBM Corp., and L.E.K. Consulting among others. These consulting firms are using the online platform at the time of the coronavirus crisis. For instance, Deloitte Consulting LLP published a report addressing the financial impact of COVID-19 on enterprises. The publication will assist the companies in experiencing operational disruption due to policies imposed by the government for safeguarding the public from the spread of COVID-19. 

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the global consulting industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on the consulting industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the global consulting Industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global consulting Industry.
• Insights about market determinants that are stimulating the global consulting Industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.