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Digital transformation has been most successful in markets where the consulting industry itself has been most successful – like the US (where it represents 20% of the entire consulting market), the UK (21%) and Australia (21%). In other words, clients aren’t digital self-starters. They may be interested but consultants are persuading them to act.
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Consultants like “next big things”. They make their clients curious, excited, scared, and likely to pick up the phone.
With digital, every client started eyeing the potential of things like big data and analytics, or robotic process automation, to turn what used to be a pipe dream – higher growth with lower costs – into a reality.
Over the last few year, digital transformation has turned into a $23bn (£18bn) global consulting industry. That makes it twice the size of the UK’s entire consulting market and five times the size of China’s.
Digital transformation has been most successful in markets where the consulting industry itself has been most successful – like the US (where it represents 20% of the entire consulting market), the UK (21%) and Australia (21%). In other words, clients aren’t digital self-starters. They may be interested, excited or even afraid, but consultants are persuading them to act.
To date, no particular type of consulting firm has stamped its authority on the market. Deloitte has the biggest share (12%) but it’s followed by Accenture, a firm with a strong technology heritage, and strategy giant McKinsey, rather than its Big Four peers.
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