The sector stories shaping 2026 growth: Pinpointing the opportunities for consulting firms
By our reckoning, the global consulting market will have grown by roughly 6% to pass $350bn by the end of 2026. This will come as somewhat of a relief to firms after three years of growth stalling around the 4-5% mark. So, what sectors are driving consulting revenues so far and why?
Energy & resources remains the fastest-growing sector for consultants, with the small but mighty pharma sector hot on its heels. At the other end of the spectrum are the public sector and TMT—the former under pressure to reduce consulting use and, in many places, strapped for cash, while the latter is already rich in the technology skills driving consulting revenues elsewhere.
But beyond the headlines, our Market Trends research and proprietary data model reveal some of the key stories shaping the year so far.
Energy & resources
Growth forecast: High (10%)
The story: A confidence crisis
Consulting revenues are rising most rapidly in the energy & resources sector, despite—or because of—clients facing some serious challenges.
In our 2026 Market Trends geography data, energy & resources is the only sector where over a third of clients fall into the “frightened” category (those reporting significantly reduced business confidence). And, when we surveyed the sector again for June’s energy & resources report, that proportion grew to almost half.
Why? At the time of this second survey, military activity in the Middle East was at the forefront of both clients’ and consultants’ minds. The sector’s position at the core of geopolitical power is likely to impact confidence going forward, too, making risk work an important consideration for energy & resources clients—it’s one of the top three biggest consulting services in the sector in revenue terms, alongside technology & innovation and strategy work.
As Anish De of KPMG put it in our Energy & Resources Consulting Market Trends report, “We are seeing a massive amount of risk-related advisory and supply chain work due to geopolitical complexities.”
For firms, it’s important to face clients’ concerns head on. “Frightened” clients have a high propensity to spend, but they want to work with firms that understand the acuity of their challenges.
To access The Energy & Resources Consulting Market in 2026 report, visit the Source Hub.
Financial services
Growth forecast: Medium (6%)
The story: An AI push
The largest sector for consulting is showing its ambition once again.
Roughly two in five financial services clients we surveyed for our 2026 market trends report say their organisation is becoming increasingly eager to use generative AI because of the competitive advantage it promises.
What’s more, our data suggests that, while there’s still a careful balance to be struck between the risks and rewards of AI adoption, financial services institutions are evolving the objectives of their investments. Despite the widespread adoption of AI, only 5% of clients we surveyed say they plan to cut their headcount this year; they’re much more likely to be focused on using AI for innovation and growth.
For firms, this means aligning proposals with the forward-looking ambitions of financial services clients—without losing sight of the sector’s prominent security and regulatory concerns.
For a sub-sector view of AI ambitions in the sector, download the Financial Services Consulting Market in 2026 report.
Pharma
Growth forecast: High (9%)
The story: An M&A resurgence
Though growing from a small base, pharma has been a bright spot in our growth forecasts for several years, building on the momentum it gained following the pandemic.
Now, it seems like pharma organisations might be looking to double down on this momentum through M&A. In recent years, the slowdown in the deals market has been well documented, but this year, 30% of pharma clients we surveyed identified M&A as one of the three most relevant and important issues on the boardroom agenda, making it the second-most popular response, after improving technology infrastructure. That’s even more remarkable when you consider that, in 2025, M&A languished at the bottom of the list, with only 6% of respondents mentioning it.
As Source consultant Matthew Webbon points out in our Market Trends report covering the sector, the first quarter of 2026 alone saw 16 separate biopharma acquisitions valued above $1bn.
That’s not to say deals work is a sure thing for consultants, but the data does show a growing appetite for inorganic growth—more evidence of the high levels of ambition in the sector. Watch this space.
To find out more about the needs and priorities of the healthcare & pharma sectors, read the report.
What can firms do next?
Interested in another sector, or a regional view? Our Market Trends programme spans the global consulting market, providing the data that can help guide your investment strategy. To speak to an expert or access more detailed data, contact us.