August 2022 – Croixstone

Consulting Industry Trends

So what is the big picture in consulting?

The Croixstone Consulting team dedicated some time last week to dig into the latest research to provide some fresh perspectives in answering this question. Here’s what we found.

Global Consulting Market: Was estimated at $132 billion USD in 2020 (Statista)
North America: Is the largest consulting services market worldwide with annual revenues estimated at $64.4 billion. (Statista)
Regional Analysis: North America and Europe are highly mature markets contributing to 75% of the global consulting market revenue. (Beroe)
Number of Management Consultants in USA: 768,450 (Statista)
Growth Rate: Management consulting is anticipated to grow at a CAGR of more than 6 percent from 2021 to 2026 (Beroe)
Growth Drivers: The demand for operational efficiency, regulatory compliance and technology improvements. (Beroe)
Demand by Industry: Financial Services (25%), Manufacturing (16%), Public Sector (14%), Natural Resources & Power (12%), Wholesale & Retail (10%), Healthcare (7%), Communications & Media (7%), Aerospace & Defense (4%), Other Industries (5%) (Beroe)
Profits: Over the next 5 years, management consulting industry profitability is expected to remain steady as rising global business sentiment and profit drive new businesses. (Beroe)
Disruption: New business models such as crowdsourcing and network-based consulting are evolving in the industry, which can be disruptive in nature. Think of Wikistrat, HourlyNerd, and Business Talent Group as examples. (Beroe)

Croixstone Consulting is a boutique management consulting firm known for connecting the brightest minds in business and community. Learn how we drive business outcomes by accelerating and sustaining transformations here.

2022 Global Supplier Diversity Accelerator Program

The Croixstone team is celebrating!

In June of 2022, our CEO and co-founder, Patti Weber, was accepted into the 2022 Global Supplier Diversity Accelerator Program (GSDA) sponsored by Santander US (the diversified financial business with $155 billion in assets and 15,000 employees) and Monica Motivates (a supplier diversity consulting firm).

GSDA offers training and development programs for supplier small businesses owned by women, minorities and veterans to enhance their skills and knowledge to win key business contracts.

Patti completed the 12-week program last week by flying to Dallas to deliver a pitch to a team of Santander US leaders including:

Dr. Virnitia Hendricks / Chief Diversity Officer
Christopher Pfirrman / Santander Consumer USA Chief Legal Officer
Corley Cowan / Santander Consumer USA Senior Director Sales Strategy and Implementation
Jason Christensen / Santander Consumer USA IT Chief Operating Officer
Emiliano Ariel Diaz / IT Category Mexus Regional Lead

Congrats to Patti and her fellow program participants on a job well done, and thank you to the teams at Santander US and Monica Motivates for your commitment to supporting supplier diversity in such a high impact way.

Check out this LinkedIn post from Santander US regarding the Class of 2022 here.

Learn more about Santander US here.

Learn more about Monica Motivates here.