Latest News- AI Consulting Market: IT consulting is expected to lead the Service Type segment during 2025-2029

The AI Consulting Market is being driven by Proliferation of generative AI as strategic imperative

The AI Consulting Market is expected to grow at a CAGR of 28.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 38157.5 million. The global AI consulting market is witnessing a significant evolution, with a growing emphasis on industry-specific AI solutions. Organizations have progressed beyond the exploratory phase of AI and now require consultants who can provide specialized, verticalized expertise. Consulting firms are transitioning from being technology advisors to strategic partners, offering deep domain knowledge in sectors such as finance, healthcare, and manufacturing. This shift is driven by the increasing demand for consultants who can navigate the unique regulatory, data, and process complexities of each industry. The focus is no longer on the theoretical application of AI, but rather on the practical implementation and optimization of AI solutions for specific operational contexts. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service Type
  • IT consulting
  • Operations consulting
  • Financial advisory consulting
  • Strategy consulting
  • Others
• End-user
  • BFSI
  • Retail and e-commerce
  • Healthcare
  • Manufacturing
  • Others
• Technology
  • Machine learning
  • Deep learning
  • Natural language processing
  • Computer vision
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Proliferation of generative AI as strategic imperative
• Critical shortage of specialized AI talent and skills
• Escalating implementation complexity and mandate for responsible AI governance

However, the market also witnesses some limitations, which are as follows:

• Demonstrating measurable return on investment and managing client expectations
• Threat of commoditization and growing in-house client capabilities
• Navigating complex and fragmented global regulatory and ethical landscape

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Market Scope in AI Consulting Market Research Report

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Research Analysis Overview

AI consulting firms offer expert data science services, including algorithm development and model deployment, to help businesses implement AI solutions. Client engagement and project delivery are prioritized, with team collaboration ensuring effective knowledge transfer and technology integration. AI consulting firms focus on process improvement, performance monitoring, and business transformation through strategic alignment and organizational change. Digital strategy, customer experience, and supply chain management are key areas of expertise. Project management, data analysis, and cloud solutions are also provided, along with data security, governance, quality, and various advanced analytics techniques like natural language understanding, statistical analysis, predictive analytics, prescriptive analytics, scenario generation, AI governance, responsible AI, and model validation.

Market Research Overview

The AI consulting market is a segment of the larger global IT software industry, focusing on the provision of AI-driven insights, predictive modeling, and machine learning algorithms through data analytics platforms. This market encompasses businesses specializing in artificial intelligence applications, primarily for enterprise and technical use. Technavio's market analysis calculates the market size based on the combined revenue of these companies, including cloud-based AI software providers. The IT software market, in general, covers application, system, and database management software development and production, with the application software market further segmented into enterprise, technical, and cloud-based solutions. It is essential to note that the AI consulting market falls under the application software category, excluding interactive home entertainment and systems software providers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/