The UK consulting market – which includes England, Scotland, Wales and Northern-Ireland – is worth around £10 billion, making it Europe’s second largest consultancy base. Growth has been strong in recent years, ranging between 6% and 10%. According to data from the Management Consultancies Association (MCA) the consulting market of the UK ranks among the fastest growing advisory markets in Europe. In 2012 total fee income of the sector was estimated at £7.4 billion, and on the back of solid year-on-year growth, the consulting industry is currently worth circa £10 billion, including all consultancies (also unregistered with the MCA).
The UK employs around 63,000 professionals within the consulting industry, of which around 94% of are professional consultants, and the other remaining 6% are supporting staff. The Management Consultancies Association is the representative body for the management consulting industry. Their 56 members represent around 60% of the consulting industry in the UK, as measured by fee income. The MCA work right across the public sector and work closely alongside a lot of the highly capped FTSE 100 companies. They monitor and review the performance and operations of UK consultancies through various methods, such as the undertaking of surveys focused upon consultancies within the UK.
As seen above the consulting market is largely utilised by those businesses operting within financial services, making up 33% in 2015.
Although, based upon the consulting serive provided it is clear to see that digital and technological consultancy is the highest in demand, making up 27.7% of the market. Digital and technological capabilities of businesses are become ever-more advance and it typically requires specialists to implement such procedures, explaining the large demand for such a service line.
