Overview and Scope
Technology advisory refers to services that offer advice on developing
technology strategies, technology ideation and prototyping, designing digital
consulting services, and cybersecurity enhancements. Technology advisory help
to create an effective IT strategy, adjust operations to meet corporate
objectives, invest in the appropriate technology and implement it, adopt the
shifting IT landscape, keep up with the latest technology developments, enhance
enterprise architecture, manage and improve IT expenses.
Sizing and Forecast
The technology advisory market size has grown steadily in recent years. It will
grow from $157.91 billion in 2023 to $164.48 billion in 2024 at a compound
annual growth rate (CAGR) of 4.2%. The growth in the historic period can be
attributed to digital transformation imperatives, cybersecurity concerns and
threats, regulatory compliance and governance, legacy system modernization
needs, data analytics and business intelligence.
The technology advisory market size is expected to see steady growth in the
next few years. It will grow to $196.66 billion in 2028 at a compound annual
growth rate (CAGR) of 4.6%. The growth
in the forecast period can be attributed to adoption of cloud computing, ai and
machine learning integration, focus on sustainable and green it, e-commerce and
digital marketing strategies, resilience planning and business continuity.
Major trends in the forecast period include sustainable technology practices and
green it consulting, digital transformation roadmaps and strategy formulation,
5g implementation guidance for connectivity and innovation, biometric and
facial recognition technology advisory, collaboration tools and remote work
technology advisory.
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Segmentation & Regional Insights
The technology advisory market covered in this report is segmented –
1) By Service: Application development, Cloud Services, Cybersecurity and
Privacy, Data and Analytics, Technology Strategy and Enterprise Architechture,
Other Services
2) By Enterprise Size: Large Enterprise, Small and Medium Enterprise
3) By End Use: Banking, Financial Services, Healthcare, IT & telecom,
Government, Other End Uses
North America was the largest region in the technology advisory market in 2023.
Western Europe was the second largest region in the global technology advisory
market share. The regions covered in the technology advisory market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing requirement for simplifying business operating models and IT
investment monitoring is a major driver contributing to the growth of the
technology advisory market. Technology consulting firms help companies
integrate technology into their business operations and create better
experiences, thereby improving business processes, reducing costs, and
maximizing technology-based opportunities. Technology advisory firms also help
companies address cybersecurity concerns and keep data safe. For instance,
Louis Vuitton uses technology consulting to create small modules in business
and IT strategy and IT governance to run its operations effectively. In
addition to this, companies such as Canon and Samsung have been using
technology advice to optimize their operations and reduce IT costs. Technology
advisory services help companies focus more on core business, access the latest
technology, and minimize hardware failure, virus and spyware attacks, and
database corruption.
Key Industry Players
Major companies operating in the technology advisory market report are Deloitte
Touche Tohmatsu Limited, International Business Machines Corporation,
PricewaterhouseCoopers LLP, Accenture plc, Ernst & Young Global Limited,
Oracle Corporation, KPMG International Cooperative, Fujitsu Limited, Tata
Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions
Corporation, Infosys Limited, McKinsey & Company, BDO Global, The Boston
Consulting Group Inc., Atos SE, Wipro Limited, Dell Technologies Inc., Booz
Allen Hamilton Inc., Computer Sciences Corporation, Grant Thornton
International Ltd, Gartner Inc., Bain & Company Incorporated, HCL
Technologies Limited, FTI Consulting Inc., Oliver Wyman, Alvarez & Marsal
Holdings LLC, PA Consulting Group, Navigant Consulting Inc., Catalyst
Consulting Group Inc., West Monroe Partners LLC, Mindtree Limited, Slalom LLC
The technology advisory market report table of contents includes:
1. Executive Summary
2.
Technology Advisory Market Characteristics
3.
Technology Advisory Market Trends And Strategies
4.
Technology Advisory Market - Macro Economic Scenario
5. Global
Technology Advisory Market Size and Growth
.
32. Global
Technology Advisory Market Competitive Benchmarking
33. Global
Technology Advisory Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Technology Advisory Market
35.
Technology Advisory Market Future Outlook and Potential Analysis
36.
Appendix
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