Australia Management Consulting Market

Australia Management Consulting Market Overview:

The Australia management consulting market size reached USD 2.66 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 5.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.80% during 2024-2032. The increasing demand for business optimization, rising digital transformation, regulatory compliance services, companies seeking expert guidance on sustainability, operational efficiency, and navigating economic uncertainties, and growth in sectors like healthcare, technology, and financial services are some of the major factors propelling the market growth.

Australia Management Consulting Market Trends:

Increasing Demand for Digital Transformation

As businesses across industries strive to stay competitive in an evolving digital landscape, they seek consulting expertise to adopt new technologies, optimize processes, and integrate digital solutions. This demand is particularly strong in sectors like finance, healthcare, and retail, where digital innovation plays a key role in enhancing operational efficiency and customer experience. For instance, in 2024, the implementation of new technologies and digital tools is reshaping Australia's public sector, with new research showing 85% of government workers surveyed had recently experienced a digital initiative being implemented within their department or agency. A survey of 425 Australian government workers undertaken by Appian, a software company that automates organizational processes, found that most government workers believe that their agency's digital transformation projects have had positive impacts on the public, with 63% of those surveyed saying that the adoption of new technologies had made government services more accessible to citizens. Positively, the introduction of new technologies within government departments and agencies has led to better organizational communication, with 64% of workers experiencing improved collaboration following new solutions being deployed.

Rising Need for Regulatory Compliance

Regulatory compliance has become a critical concern for businesses in Australia, with stricter government regulations and industry standards requiring organizations to navigate complex legal frameworks. This has led to a growing demand for consultants who specialize in ensuring compliance with these regulations while minimizing risks and maintaining business continuity. According to an article published in 2024 in the Times of India, the Australian government should be required to disclose every consulting contract worth over A$2 million ($1.33 million) and contracts should include a requirement that providers act in the public interest, as per a senate inquiry sparked by PwC's leak of secret tax plans. The country should also be required set up a public register of conflicts of interest for consulting firms, and overhaul the rules for large partnership-based organizations that aren't covered by corporate laws and regulators, the inquiry added in a report.

Australia Management Consulting Market News:

• In July 2024, the international management consultancy, Nous Group, announced its acquisition of specialist consulting firm, Health Policy Analysis (HPA), as the business expands its health practice and gears up for continued growth in the sector. Working together, Nous and HPA will provide clients with a smoother, end-to-end experience and open access to new opportunities in the market.
• In July 2024, Deloitte Australia announced the purchase of a minority stake in the market-leading First Nations consulting business formerly known as PIC (PwC Indigenous Consulting). This milestone marks the evolution of the business after more than 10 years of successful operations, delivering impact for First Nations communities. In honor of its deep relationships with Aboriginal and Torres Strait Islander peoples and communities, and its commitment to partnering to achieve outcomes, the business will be renamed yamagigu. The Wiradyuri word meaning “our purpose is to go with you” encapsulates the spirit of partnership and shared journey.

Australia Management Consulting Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, organization size, and industry vertical.

Type Insights:

• Strategy Consulting
• Operations Consulting
• Financial Advisory
  • Corporate Finance
  • Accounting Advisory
  • Tax Advisory
  • Transaction Services
  • Risk Management
  • Others
• Technology Consulting
• Human Resources Consulting
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes strategy consulting, operations consulting, financial advisory (corporate finance, accounting advisory, tax advisory, transaction services, risk management, and others), technology consulting, and human resources consulting.

Organization Size Insights:

• Large Enterprises       
• Small and Medium-Sized Enterprises
   

A detailed breakup and analysis of the market based on the organization size have also been provided in the report. This includes large enterprises and small and medium-sized enterprises. 

Industry Vertical Insights:

• BFSI
• IT and Telecom
• Manufacturing
• Retail and E-Commerce
• Public Sector
• Healthcare
• Others
   

The report has provided a detailed breakup and analysis of the market based on the industry vertical. This includes BFSI, IT and telecom, manufacturing, retail and e-commerce, public sector, healthcare, and others.

Regional Insights:

• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Australia Capital Territory & New South Wales, Victoria & Tasmania, Queensland, Northern Territory & Southern Australia, and Western Australia.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Australia Management Consulting Market Report Coverage:

Key Questions Answered in This Report:

• How has the Australia management consulting market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Australia management consulting market?
• What is the breakup of the Australia management consulting market on the basis of type?
• What is the breakup of the Australia management consulting market on the basis of organization size?
• What is the breakup of the Australia management consulting market on the basis of industry vertical?
• What are the various stages in the value chain of the Australia management consulting market? 
• What are the key driving factors and challenges in the Australia management consulting?
• What is the structure of the Australia management consulting market and who are the key players?
• What is the degree of competition in the Australia management consulting market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Australia management consulting market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Australia management consulting market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Australia management consulting industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.