The Future of the Firm
Trends and opportunities for firms in 2025
Jan 21, 2025
Fiona Czerniawska and Catherine Anderson discuss significant trends impacting consulting firms by 2025. They foresee a spike in demand for technology and risk management, driven by shifting client needs. The conversation highlights the importance of understanding clients' industries while offering new perspectives. Additionally, they tackle the growing interest in AI technologies and the challenges of hybrid work. With a cautious growth forecast, firms must focus on enhancing client value and adapting to evolving expectations, especially regarding outcomes-based pricing.
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Quick takeaways
- The consulting sector is expected to see a cautious growth of 4% to 5% in 2025, driven by demand for technology and change management services amid ongoing budget constraints.
- Clients increasingly seek firms that combine deep industry knowledge with practical consulting expertise, rejecting generic approaches for tailored insights and rapid execution.
Deep dives
Analyzing the Consulting Market Performance
The consulting market faced significant challenges in 2024, with growth rates dropping to around 3%, contrasting sharply with the historic norm of 7% to 8%. Notably, the U.S. market underperformed compared to expectations, which was a disappointment for industry analysts. In contrast, the Gulf region, particularly the Middle East, experienced a boom in consulting demand driven by investment needs in renewables and demographic changes, positioning it as a high spot in the industry. This divergence in performance among global markets highlights a mixed landscape for consulting demand as firms navigate economic fluctuations.
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