Global AI Consulting Market Size, Share, and COVID-19 Impact Analysis, By Service Type (Strategy Consulting, Management Consulting, Operations Consulting, Financial Advisory Consulting, Human Resource Consulting, IT Consulting, and Others), By End User (Healthcare, Finance and Banking, Retail and E-commerce, Manufacturing, Telecommunications, Energy and Utilities, Automotive, Logistics and Transportation, Education, Real Estate, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global AI Consulting Market Insights Forecasts to 2033

• The Global AI Consulting Market Size was Estimated at USD 8.0 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 21.13% from 2023 to 2033
• The Worldwide AI Consulting Market Size is Expected to Reach USD 54.4 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global AI Consulting Market Size was worth around USD 8.0 Billion in 2023 and is predicted to Grow to around USD 54.4 Billion by 2033 with a compound annual growth rate (CAGR) of 21.13% between 2023 and 2033. The market for artificial Intelligence consulting involves expert advisory services that lead organizations in applying AI technologies to improve operational effectiveness, automate intricate processes, and extract actionable intelligence from big data.

Market Overview

Artificial intelligence (AI) is transforming sectors, both posing threats and offering opportunities for business entities. AI consulting assists organizations to improve processes, products, and services through the application of AI technologies. Additionally, AI consultants offer machine learning model creation expertise, neural network structure, natural language processing deployment, predictive analytics strategy, and AI governance frameworks. The services assist companies in managing the technological complexity while steering clear of frequent implementation errors and maintaining alignment with strategic goals. The consulting service normally involves an AI readiness assessment, identification of use cases, selection of technology, road mapping of implementation, change management, and continuous optimization. With more organizations viewing AI as a differentiator of competitiveness over just an operational instrument, there is rising demand for specialist consulting services in vertical industries.

Report Coverage

This research report categorizes the global AI consulting market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global AI consulting market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global AI consulting market.  

Driving Factors

The explosive growth in the volume, variety, and velocity of enterprise data poses significant challenges to organizations looking to derive useful insights using AI technologies. AI consulting services assist organizations in formulating end-to-end data strategies, adopting suitable data governance models, and designing scalable analytics architectures that enable sophisticated AI applications. This move from descriptive to predictive and prescriptive analytics demands specialized knowledge in data engineering, model building, and solution deployment practices. Furthermore, Companies across the globe are fast-tracking end-to-end digital transformation initiatives, where AI implementation constitutes a vital element of such strategic plans. AI consulting solutions bring necessary knowledge to bear in defining high-value applications, creating implementation roadmaps, and achieving seamless technology integration in current enterprise architecture.

Restraining Factors

The significant restraints in the artificial intelligence (AI) consulting industry is the increased concern regarding data security. With companies incorporating AI solutions that are data-intensive, the threat of unauthorized access, data breaches, and misuse becomes a major challenge.

Market Segmentation
The global AI consulting market share is classified into service type and end user.

•    The IT consulting segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the service type, the AI consulting market is categorized into strategy consulting, management consulting, operations consulting, financial advisory consulting, human resource consulting, IT consulting, and others. Among these, the IT consulting segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. IT consulting services are crucial for organizations looking to leverage AI capabilities, ensuring that the underlying technological foundations are secure, scalable, and robust. IT Consulting dominates the AI consulting segments since it tackles the fundamental needs of businesses in digital transformation directly. As businesses look to use AI for competitive gain, they need professional advice to navigate the intricacies of integrating AI with current IT systems.

•    The finance and banking segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the end-user, the AI consulting market is categorized into healthcare, finance and banking, retail and E-commerce, manufacturing, telecommunications, energy and utilities, automotive, logistics and transportation, education, real estate, and Others. Among these, the finance and banking segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Banks are now turning to AI more and more to automate processes, enhance risk management capabilities, and provide personalized customer experiences, all of which necessitate advanced AI integration. The visibility of the Finance and Banking segment also comes from the need to meet stringent regulatory and security requirements, which can be effectively addressed by AI-based solutions.
 

Regional Segment Analysis of the Global AI Consulting Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global AI consulting market over the predicted timeframe.

North America is anticipated to hold the largest share of the global AI consulting market over the predicted timeframe. This leadership is due to various factors. Most importantly, the area has a well-established technological infrastructure and a cluster of top AI companies, featuring multinational giants like IBM, google, and Microsoft, that push the boundaries of innovation and market expansion. In addition, large investments in AI research and development by the public and private sectors enable rapid application of AI technologies to various industries.

Asia Pacific is expected to grow at the fastest CAGR in the global AI consulting market during the forecast period. In a fast-growing economy, a thriving tech industry, and growing digitalization drives across sectors, companies in the Asia-Pacific region are aggressively looking for artificial intelligence (AI) consulting service. Moreover, as companies in the region compete to remain competitive on the international scene, the need for artificial intelligence (AI) consulting to navigate intricate technological environments and tap into the potential of artificial intelligence is driving Asia-Pacific to the leading edge of the AI consulting market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global AI consulting market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Bain and Company
• KPMG International
• PwC (PricewaterhouseCoopers)
• Capgemini SE
• Cognizant Technology Solutions
• Infosys Limited
• Tata Consultancy Services Limited
• Wipro Limited
• DXC Technology Company
• Genpact Limited
• Accenture Plc
• IBM Corporation
• Deloitte Touche Tohmatsu Limited
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• September 2024, BCG broadened its AI advisory strengths by deepening partnerships with the world's top tech leaders (AWS, Google, IBM, Microsoft, Salesforce, SAP, OpenAI, Anthropic, Palantir, etc.). This system helps clients navigate generative AI and end-to-end business redesign using BCG X for tailor-made AI offerings.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global AI consulting market based on the below-mentioned segments:

Global AI Consulting Market, By Service Type

• Strategy Consulting
• Management Consulting
• Operations Consulting
• Financial Advisory Consulting
• Human Resource Consulting
• IT Consulting
• Others

Global AI Consulting Market, By End User

• Healthcare
• Finance and Banking
• Retail and E-commerce
• Manufacturing
• Telecommunications
• Energy and Utilities
• Automotive
• Logistics and Transportation
• Education
• Real Estate
• Others

Global AI Consulting Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa