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
- Technology Advisory Market Characteristics
- Technology Advisory Market Trends And Strategies
- Technology Advisory Market – Macro Economic Scenario
- Global Technology Advisory Market Size and Growth
.
- Global Technology Advisory Market Competitive Benchmarking
- Global Technology Advisory Market Competitive Dashboard
- Key Mergers And Acquisitions In The Technology Advisory Market
- Technology Advisory Market Future Outlook and Potential Analysis
- Appendix
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