The turnover of management consultancy services in Spain has shown a positive trajectory over the last decade, growing from 4.56 billion euros in 2013 to 10.08 billion euros in 2023. Notably, the sector experienced fluctuations with a significant dip in growth during 2020 due to external factors, but it quickly recovered in subsequent years. Over the last two years, the sector has seen steady year-on-year growth rates of 3.75% in 2022 and 3.55% in 2023. The compound annual growth rate (CAGR) for the past five years stands at 5.68%.
Forecasts indicate continued expansion, with an expected turnover of 11.72 billion euros by 2028. The projected CAGR for the next five years is 2.38%, representing a forecasted growth rate of 12.5% over this period.
Future trends to watch for:
- Increased digitization and demand for digital transformation services.
- Rising focus on sustainability and ESG (Environmental, Social, and Governance) consulting.
- Gaps between consultancy supply and demand due to evolving market needs.
- Growing influence of artificial intelligence and machine learning in consultancy practices.
- Increased consolidation within the industry through mergers and acquisitions.
