Global Digital Services Consulting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Digital Services Consulting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The main purpose of digital services consulting is to help companies and organizations achieve their goals in innovation and digital transformation in the most efficient way and stay relevant in the market using information technology and digital channels.

Market Overview:

The latest research study on the global Digital Services Consulting market finds that the global Digital Services Consulting market reached a value of USD 94845.07 million in 2022. It’s expected that the market will achieve USD 179385.45 million by 2028, exhibiting a CAGR of 11.21% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

In the specific environment based on the outbreak of COVID-19, the global economy has been significantly affected, resulting in challenges and opportunities for the development status of various industries. Since the COVID-19 virus outbreak in December 2019, the disease has spread to innumerable countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease (COVID-19) are already starting to be felt, and will significantly affect the Digital Services Consulting market in 2020. COVID-19 can affect the global economy in three main ways: by directly affecting operation and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. During the epidemic, the resumption of work, operations, revenue targets, and industry development of the Digital Services Consulting industry were all challenge.

Amid COVID-19 pandemic cloud and internet technologies are keeping world running. With social distancing in place businesses across sectors are working remotely, and people are completely dependent on online services for their essential and non-essential needs. To make this virtual world as real, efficient, and impactful as possible, the demand for robust cloud infrastructure is booming. While everyone stays at home, digital services have made world more seamless than ever. For the Digital Services Consulting industry, although the impact of the epidemic is not as big as the tourism industry, film industry, fast-moving consumer goods store and other industries, the Digital Services Consulting industry will also be affected by the overall environment and economic downturn, especially the downstream industry of Digital Services Consulting. The industry is greatly affected by the epidemic, which in turn has affected the sales and consumption of Digital Services Consulting.

Fierce competition

With major manufacturers and suppliers in the Digital Services Consulting industry competing at globally, the intensity of competition within the Digital Services Consulting industry has increased. The vendors adopt strategies like price premiums to stay competitive in the market. Meanwhile, the local vendors in developing nations are providing tough competition to the global players based on service pricing. The fierce competition is not conducive to the sustainable development of the industry. At the same time, small companies enter the business consequently as venturing into a digital services consulting business does not require immense capital or investment. However, this leads to the proliferation of duplicate products which then hampers the competitive scenario in the market as established digital services consulting manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volumes.

Development of the technology

Economies, jobs, and personal lives are becoming more digital, more connected, and more automated. Waves of innovation build over time, powering the technology growth engine that appears to be on the cusp of another major step forward. In Digital Services Consulting industry, there are tremendous benefits available through technology for both business and society, the development of big data, IOT and other technologies has continuously promoted the development of Digital Services Consulting industry. All in all, with the continuous upgrading of products and the development of technology and economy, the Digital Services Consulting market continues to expand. The introduction of new technologies and new developments has brought a bright future for the industry.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Accenture is one of the major players operating in the Digital Services Consulting market, holding a share of 14.15% in 2021.

Accenture provides management consulting, technology, and outsourcing services. The Company offers its management consulting services in customer relationship management, finance and enterprise performance, operations, risk management, strategy, and talent and organization service areas. Accenture offers services globally.

IBM provides computer solutions. The Company offers application, technology consulting and support, process design and operations, cloud, digital workplace, and network services, as well as business resiliency, strategy, and design solutions. IBM serves clients worldwide.

Segmentation Overview:

Among different product types, Big Data segment is anticipated to contribute the largest market share in 2027.

Big Data

Big data is a term that describes the large volume of data – both structured and unstructured – that inundates a business on a day-to-day basis. But it’s not the amount of data that’s important. It is what organizations do with the data that matters. In addition to the increasing velocities and varieties of data, data flows are unpredictable – changing often and varying greatly. It’s challenging, but businesses need to know when something is trending in social media, and how to manage daily, seasonal and event-triggered peak data loads. Veracity refers to the quality of data. Because data comes from so many different sources, it’s difficult to link, match, cleanse and transform data across systems. Businesses need to connect and correlate relationships, hierarchies and multiple data linkages. Otherwise, their data can quickly spiral out of control. Digital Services Consulting enables 1) cost reductions, 2) time reductions, 3) new product development and optimized offerings, and 4) smart decision making. When combine big data with high-powered analytics of digital services consulting, big data can be analyzed for insights that lead to better decisions and strategic business moves.

IoT Analytics

IoT analytics is the application of data analysis tools and procedures to realize value from the huge volumes of data generated by connected Internet of Things devices.

The potential of IoT analytics is often discussed in relation to the Industrial IoT. The IoT makes it possible for organizations to collect and analyze data from sensors on manufacturing equipment, pipelines, weather stations, smart meters, delivery trucks and other types of machinery. IoT analytics offers similar benefits for the management of data centers and other facilities, as well as retail and healthcare applications. IoT data can be thought of as a subset and a special case of big data and, as such, consists of heterogenous streams that must be combined and transformed to yield consistent, comprehensive, current and correct information for business reporting and analysis.

Data Visualization

Data visualization refers to the techniques used to communicate data or information by encoding it as visual objects (e.g., points, lines or bars) contained in graphics. The goal is to communicate information clearly and efficiently to users. It is one of the steps in data analysis or data science. As the “age of Big Data” kicks into high-gear, visualization is an increasingly key tool to make sense of the trillions of rows of data generated every day. Data visualization helps to tell stories by curating data into a form easier to understand, highlighting the trends and outliers. A good visualization tells a story, removing the noise from data and highlighting the useful information. Data visualization is the graphical representation of information and data. By using visual elements like charts, graphs, and maps, data visualization tools provide an accessible way to see and understand trends, outliers, and patterns in data.

Data Analysis

Data Analysis is the process of systematically applying statistical and/or logical techniques to describe and illustrate, condense and recap, and evaluate data. While data analysis in qualitative research can include statistical procedures, many times analysis becomes an ongoing iterative process where data is continuously collected and analyzed almost simultaneously. Indeed, researchers generally analyze for patterns in observations through the entire data collection phase. The form of the analysis is determined by the specific qualitative approach taken and the form of the data.

Application Overview:

By application, the Large Enterprises segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Digital Services Consulting market covered in Chapter 3:

Centric Consulting
IBM
Boston Consulting Group
PwC
Oracle Consulting
Bain & Company
KPMG International
Baker Tilly Digital
Deloitte Consulting LLP
McKinsey & Company
Accenture
EY Consulting

In Chapter 4 and Chapter 14.2, on the basis of types, the Digital Services Consulting market from 2018 to 2029 is primarily split into:

Big Data
IoT Analytics
Data Visualization
Data Analysis
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Digital Services Consulting market from 2018 to 2029 covers:

Large Enterprises
Small and Mid-sized Enterprises (SMEs)

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)