The Australian consulting market grew by more than 10 per cent to be worth $US5.2 billion last year, driven by continued demand for advice about digitising processes, cybersecurity and mergers and acquisitions.
The total market size is still well down from the high-water mark of $US5.8 billion achieved in 2019 and only just ahead of theJames Beeby, a research manager at Source Global Research said consulting clients appeared to have weathered the COVID-19 storm remarkably well, despite some lockdowns last year.
Demand for cybersecurity advice from both public and private-sector organisations grew by more than 17 per cent to $US713 million, while strategy consulting, which includes deals advice, grew by more than 11 per cent to be worth more than $US1 billion.The strength of the market was demonstrated by the results of big four consulting firmAt the time, Deloitte chief executive Adam Powick said the strong result was due to surging demand for Deloitte’s technology, risk and financial services advice.
The number of open job advertisements for the five big consulting firms – Accenture, Deloitte, EY, KPMG and PwC – grew from about 3000 at the end of last year to about 4000 in June, he said.