Financial Advisory Market - Global and Regional Insights | 2031
The size is expected to grow from US$ 95.67 billion in 2023 to US$ 157.10 billion by 2031; it is anticipated to expand at a CAGR of 6.4% from 2023 to 2031.
Financial advisory Market Analysis
The financial advisory market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. Financial advisory services are consulting services that build on a robust financial-analytical fundamental. These service offerings span an extensive variety of topics, such as risk management, transaction services, real estate advisory, tax advisory, compliance, and litigation services, among others. Furthermore, financial advisors provide customers with global advisory services that completely focus on the strategic direction of business development and success.
Financial advisory
Industry Overview
- Financial advisory services consist of fees earned for assisting clients with transactions related to financial restructurings and mergers & acquisitions. Revenue differs depending on the size of the transaction and the scope of services performed and normally depends on the effective completion of the transaction.
- Increasing demand for financial advisory services among small and medium enterprises (SMEs) and continuous growth in global high-net-worth individuals drive the financial advisory services market growth. Additionally, factors such as the mounting demand for alternate investments certainly impact the financial advisory market growth. However, a lack of awareness regarding financial risk advisory services and higher dependency on obsolete methods are anticipated to hinder market growth. On the contrary, increasing innovations in the fintech business and the untouched potential of developing economies are projected to bid lucrative opportunities for expansion of the financial advisory services market growth during the forecast period.
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Financial Advisory Market: Strategic Insights
Market Size Value in US$ 95.67 billion in 2023 Market Size Value by US$ 157.10 billion by 2031 Growth rate CAGR of 6.4% from 2023 to 2031 Forecast Period 2023-2031 Base Year 2023
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Financial Advisory Market: Strategic Insights
| Market Size Value in | US$ 95.67 billion in 2023 |
| Market Size Value by | US$ 157.10 billion by 2031 |
| Growth rate | CAGR of 6.4% from 2023 to 2031 |
| Forecast Period | 2023-2031 |
| Base Year | 2023 |
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Financial Advisory Market Driver
Growing demand for financial advisory services among SMEs to Drive Financial Advisory Market Growth
- Financial advisory services are the finest technique to offer value for SMEs as they can maximize their pricing by the value they deliver to their small business customers. Furthermore, according to an Accounting Today survey in October 2021, 78.0% of small businesses want a trusted advisor with financial knowledge.
- Additionally, during the COVID-19 pandemic, some major banks collaborated to deliver proper financial advisory services for SMEs. For instance, in August 2021, Gulf Bank collaborated with Balance Business Advisory, a Kuwaiti-based SME, to offer financial advisory services to SMEs and entrepreneurs as part of their continual commitment to their customers in this segment. This collaboration is rooted in the Bank’s strategy toward offering advisory and financial services to the SME’s.
Financial Advisory
Market Report Segmentation Analysis
- Based on type, the financial advisory market is segmented into corporate finance, tax advisory, accounting, advisory, risk management, transaction services, and others. The corporate finance segment held a significant financial advisory market share in 2023.
- The banking, financial services, and insurance (BFSI) segment held the largest financial advisory market share by industry vertical. Increasing demand for financial advisory services from the BFSI sector provides a range of financial products and services. Further, the BFSI industry is set to grow significantly in the coming years worldwide due to increasing awareness among individuals about financial services and products.
Financial Advisory
Market Regional Analysis
The scope of the financial advisory market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is observing rapid growth and is expected to hold a noteworthy financial advisory market share in 2023 due to rapidly increasing owing to evolving customer segments, rapid technological developments, and fluctuating competitive dynamics. However, Asia-Pacific is projected to observe significant growth during the forecast period, owing to continued growth in regulation, distribution regimes, use of technology, and wealth management products.
Financial Advisory
Market Report Scope
The "Financial Advisory Market Analysis" was carried out based on card type and geography. In terms of type, the market is segmented into corporate finance, accounting advisory, tax advisory, transaction services, risk management, and others. By organization size, the market is segmented into large enterprises and small & medium-sized enterprises. By industry vertical, the market is segmented into manufacturing, BFSI, IT And telecom, retail and e-commerce, public sector, healthcare, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Financial Advisory
Market News and Recent Developments
Companies adopt inorganic and organic strategies such as mergers and acquisitions in the Financial advisory market. A few recent key market developments are listed below:
- February 2023: Morgan Stanley Investment Management announced that it had received approval from the China Securities Regulatory Commission (CSRC) to take a complete supervisory stake in Morgan Stanley Huaxin Funds, marking a significant strategic advancement for the company's comprehensive footprint in China.
(Source: Morgan Stanley Investment Management, Company Website)
Financial Advisory
Market Report Coverage & Deliverables
The market report "Financial Advisory Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Organization Size, Industry Vertical,, Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The key players holding majority shares in the global financial advisory market are Morgan Stanley, Goldman Sachs Group Inc., Wells Fargo & Co, Deloitte, and Bank of America Corporation.
The global Financial advisory market is expected to reach US$ 157.10 billion by 2031.
The global financial advisory market was estimated to be US$ 95.64 billion in 2023 and is expected to grow at a CAGR of 6.4% during 2023 - 2031.
Digital advancements in the financial advisory market to play a significant role in the global financial advisory market in the coming years.
Increasing demand from the BFSI sector and increasing initiatives by market players are the major factors that propel the global financial advisory market.
- PWC
- Morgan Stanley
- Goldman Sachs Group Inc.
- Wells Fargo & Co
- Deloitte
- Bank of America Corporation
- KPMG
- JPMorgan Chase & Co.
- McKinsey & Company
- BCG Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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