The consulting sector grew by 8.4% in 2014, driven by double
digit growth in the Big Four accountancy firms
Figures released today by the Management Consultancies
Association (MCA) show that the sector has “outpaced” growth in the economy.
Members of the MCA – which represent 60% of the industry - grew by 8.4% to a
total worth of over £5.2bn in 2014. Overall, the consultancy arms of EY, Deloitte,
KPMG and PwC grew by 10.75%.
Digital consultancy grew by over 27% to a worth of £1.4bn,
and is the largest overall element of consultancies, the MCA said. Digital
consulting activity is largely focused on the financial services , retail and
energy sectors and covers advice on big data, the cloud, social media,
gamification, mobile and artificial intelligence.
Respondents to the MCA survey said they expected "no
let up" in demand for digital consultancy as much of the work done to date
has only “scratched the surface”. Consultants expect to see many more firms
using digital right across their businesses.
According to the MCA however consultants are wary of the
instability that could be caused by the international climate, particularly the
lingering question marks over Britain’s place in Europe.
Paul Connolly, director of the MCA said, “Among our
interviewees there was no enthusiasm at all for withdrawal from the world’s
largest market place, which is also one of the sources of the specialist skills
the UK needs to continue to grow.
- See more at: http://economia.icaew.com/news/june-2015/big-four-drives-growth-in-consulting-industry
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