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RALEIGH, N.C., Jan. 21, 2021 /PRNewswire/ The Management Consulting and Legal Services markets are expected to shrink further in 2021, as the demand for such services remains weak with the major economies still struggling to reach the pre-COVID thresholds, according to Beroe Inc.
The global management consulting industry declined in 2020 by about 15 percent. That trend line is expected to deepen in 2021 with a subsequent contraction, which will take the industry valuation from $241 billion to $204 billion.
The legal services industry will follow suit. Valued at $724 billion in 2020 – a fall of 0.8 percent from the previous year – the legal services market size is expected to decline further to reach the $718 billion mark in 2021.