The Middle East is emerging as a global growth engine, driven by a young and expanding population and a growing focus beyond the traditional oil and gas industry. This dynamic mix is attracting investments and spurring innovation, making the region a key player on the world stage.
With the Middle East's trajectory on the rise, management consulting firms are flocking to the region, as they see an excellent opportunity to leverage their expertise and tap into a market brimming with potential. The management consulting services market in the Middle East is expected to reach USD 12.77 billion by 2029 from USD 10.27 billion in 2024, at a CAGR of 4.46%.
A surge in investment in emerging technologies is acting as a major catalyst for the growth of companies in the Middle East. Their advancements across industries, including renewable energy, finance, telecom, hospitality, and healthcare, are creating a huge demand for management consulting services, as companies need guidance to optimize their operations, leverage technology, and craft winning strategies.
We explore three trends that are shaping the Middle East consulting market and also highlight the critical role of competitive intelligence (CI) in gaining a market edge.
1. Rise of Saudi Arabia
Saudi Arabia is leading the charge in shaping the Middle East management consulting market. Fueled by Vision 2030 and the country's ambitious plan to diversify its economy, demand for consulting expertise is surging across sectors like renewable energy, tourism, and technology. Large-scale developments in Riyadh and NEOM are further increasing the need for strategic guidance and operational improvement, creating a haven for consulting firms.
At this point, major players like McKinsey, Boston Consulting Group, and Big Four firms (Deloitte, PwC, KPMG, and EY) are heavily invested in the region. For instance, McKinsey has established a dedicated center for future mobility in Riyadh, Deloitte has launched its ServiceNow Innovation Center in Riyadh to assist Qatari businesses navigate the Saudi market, and Bain has joined forces with NEOM to build clean industries in its Oxagon zone with a focus on innovation, technology, and talent development.
2. Digital Transformation
The Middle East market is experiencing significant digital transformation, driven by technologies like AI/GenAI, cloud computing, and data & analytics, with consulting and advisory firms playing a critical role in this growth.
- AI & Automation: Consulting giants like McKinsey (which helped Dubai Ports automate its operations) are advising businesses on the implementation of AI in areas like customer service, logistics, and predictive maintenance.
- Cloud Adoption: Firms like BCG (which partnered with Saudi Aramco on cloud migration) are guiding companies on cloud computing, enabling them to access advanced technologies, scale their operations, and reduce IT infrastructure costs.
- Data & Analytics Expertise: Advisory firms like PwC (which helped develop the UAE’s national data strategy) are equipping businesses with data analytics tools to help them gain insights from customer behavior, market trends, and internal operations.
3. Future-ready Workforce
As the Middle East digital transformation landscape is evolving, leading consulting firms have recognized the importance of a future-ready workforce and are investing in upskilling initiatives. These companies are not only empowering themselves but also gearing up for sustained growth in the region. They are also aligning with the ‘Saudization’ plan, which mandates that 40% of workers in consulting firms be Saudi nationals by 2024.
PwC Middle East, in collaboration with Microsoft, has launched an AI Centre of Excellence to equip Saudi engineers with critical AI and data science skills. Similarly, Deloitte's partnership with Invest Qatar mirrors the focus on cutting-edge technologies and highlights the focus on developing tech leadership. Beyond technical expertise, initiatives like Accenture's KSA training hub and KPMG's Blue Wave program demonstrate a commitment to nurturing local talent across all levels. BCG is actively supporting this vision with its Jeel Tamooh Program, which aims to equip Saudi Arabia's brightest minds with the latest skills in areas like sustainability and AI, as well as to prepare graduates to address the Kingdom's evolving needs.
These diverse upskilling efforts are expected to not only create a future-proof workforce that is equipped to manage the complexities of the region's dynamic economy but also propel consulting companies in the Middle East to new heights.
Conclusion
The Middle East consulting market is booming, driven by a young population, economic diversification, and a surge in technology investment. Saudi Arabia, with its ambitious Vision 2030 plan, is leading the charge. Consulting firms are capitalizing on this growth by offering expertise in digital transformation (AI, cloud, data analytics) and building a future-proof workforce through upskilling initiatives. Overall, the Middle East consulting market presents a lucrative opportunity for consulting firms with the right approach.
Stay Ahead with Evalueserve's CI Solutions
To know more about such trends and to stay ahead of the competition, leverage Evalueserve's CI solutions. In this data-driven era, CI platforms like Evalueserve’s Insightsfirst can be crucial, as they provide real-time access to insights on market developments, trends, and competitor actions, to empower and enable users to
- Make informed decisions
- Uncover new possibilities
- Stay ahead of the competition
By embracing CI and staying informed about emerging trends, consulting firms can continue to thrive in the dynamic and evolving Middle East market.
