Sector hotspots for 2026: Where should firms invest?
Following another year of subdued growth for the consulting market, things look set to warm up for the year ahead. And perhaps most encouragingly, over 90% of CxOs expect to increase their consulting spend in 2026. But confidence and investment priorities vary by sector. So, which markets are set to accelerate fastest? And where should firms be placing their big bets?
In this article we draw on the latest data from Source’s proprietary market-sizing MegaModel, which reveals that 2025 was a lukewarm year with global growth of just 4.3%. This growth rate, which was slightly down on the prior year and below our initial expectations, produced an overall consulting market value of nearly $300bn.
However, there are early signs that 2026 will see a rise in sentiment, with clients recognising that—while macroeconomic and political volatility are set to remain a constant into the medium term—they now need to act. We expect these determined clients to be investing in technology, productivity, and transformation services, shifting market growth a little more firmly up towards 6%. However, this growth is likely to remain uneven, fragile, and skewed toward the end of the year.
Energy & resources
For the fourth year in a row, the energy & resources consulting market is set to see the highest growth rate, with a 10% rise forecast for 2026—well ahead of the average of 6%. Consulting services that are driving this growth include risk and cybersecurity work, which is in high demand in a sector where critical infrastructure is vulnerable to attack.
Like other sectors, energy & resources clients are prioritising investment in tech, including in infrastructure, data & analytics, and advanced technologies, but unlike many other sectors, international sales and expansion are also topping their agendas. Clients look set to be reaching out to consulting firms for support with delivering on their transformation and productivity goals.
Financial services
Financial services is the largest consulting market globally, but one that has tracked at or below the market average over recent years. 2025 saw particularly sluggish growth of just 3.6%. A rebound looks likely in 2026, with forecast growth matching the broader market at 6%, which would push it over the $80bn mark for the first time.
Hot spots for the sector are likely to the include investment & wealth management and capital markets subsectors, both of which are likely to grow at 7%, with particularly strong growth in cybersecurity work. Clients will be prioritising improving their existing tech stack and increasing productivity. They’ll be looking to consultants for help cutting costs, responding to regulatory change, and navigating M&A, should the deals market finally recover.
Healthcare
Healthcare, like its closely related sector pharma, has performed above the market average over recent years. Hovering just below the 7% growth rate in 2025, healthcare now looks set to match its previously faster growing peer, with rates of 9% forecast for 2026 and 10% for 2027.
Strong demand for cybersecurity and technology & innovation consulting will likely propel performance upwards. Healthcare clients will once again be prioritising improving their existing technology and doubling down on productivity. They’ll want firms’ help with achieving these goals, but also on transformation projects. Demand for culture change work is an outlier here, with clients in healthcare prioritising this a lot more than sectors elsewhere. This is likely due to clients looking for firms’ help to bring the transformation work they have already embarked on to life.
Manufacturing
Manufacturing is the second largest consulting sector we cover, and after several years of sluggish growth, this valuable market is set to match the industry average in 2026 with a rate of 6%.
Growth will likely be driven by the aerospace subsector (benefiting from strong spending on defence) and consumer packaged goods. Once again clients will be doubling down on productivity and getting the right tech in place, and they’ll be looking for help from firms to deliver on this—perhaps bringing in expertise and new ideas from outside the sector.
TMT
The TMT sector had a rough ride in 2025, with growth rates missing expectations and falling to the lowest of all the consulting sectors we cover at just 2%. We are forecasting slow but steady growth of 4% for the next two years.
Cybersecurity services are a highlight of this otherwise sluggish sector. Clients will be prioritising improvement in their existing tech and productivity, and will likely bring in firms to help with transformation work. While they say ESG is important, they’ll likely be looking to do much of that work in-house. While growth work is only a mid-table priority for clients, when they do embark on growth projects they will likely bring in firms to support them—a propensity that is unique to TMT clients.
Public sector
Public sector is the fourth largest of the consulting markets we cover, but, with governments across the globe looking to cut costs—and particularly consulting costs—it has struggled to grow. Rates fell to just 2.5% in 2025, and while an upward trajectory looks likely in 2026 and 2027, growth looks set to remain well below the market average.
The one standout opportunity in this sluggish sector is defence, with growth of 10% forecast for 2026 as geopolitical unrest fuels investment here. In-house, public sector clients will be focusing on risk preparedness—including cyber, following a number of high-profile and damaging attacks. When clients do reach out for help from firms, it is likely to be around driving up productivity, responding to regulatory change, and cost cutting initiatives.
As clients seek to get ahead in the complex market that 2026 promises to be, they’ll be investing in their businesses and seeking out the expertise of consultants. But growth across sectors remains uneven, and firms will need to keep informed and focused on the most significant hotspots.
What can firms do next?
Source has just published its highly anticipated Market Trends report, Forecasts for 2026. This report delves much deeper into all sectors considered in this article, as well as pharma, services, and retail. It sets out clients’ top investment priorities for the year ahead and where they will be looking for external support. To uncover 2026’s strongest growth opportunities, get in touch today or download an extract.