The world of consulting firms, where innovation meets strategy challenges transforms into opportunities. In the realm of consulting firms there are few of them that are dominating the consulting industry. Here are the Big 4 Consulting firms renowned for providing their best services in various fields.
These firms can be referred to as the unsung builders of the service sector, that provides services like consulting in audit, accounting, advisory, strategic business plans, technology innovation, etc.
What Are Consulting Firms?
Consulting firms are like the trusted guides of the business world. These are professional service organizations that provide expert advice, solutions, and assistance to businesses, companies or organizations to solve and come out of the specific problems or issues, improve business performance, to achieve certain objectives, or with new technology innovation.
These firms are specialized in offering a pool of services that can range from expert tips, financial consulting, management solutions, to technology solutions.
Every company or organization is bound to have a consulting firm by their side that can help them to come out of every issue, either the major one or the minor issue. Companies contact consulting executives regarding the solution they want for the specific industry or the working area. Here, the consulting firms send their industry specific experts specific to the concerned company to look into the problem and come up with the best service.
Consulting firms can be of many types like, financial consulting firms, technology consulting firms, healthcare consulting firms, etc.
| NAME OF THE FIRM | REVENUE (2023) |
| Deloitte | $64.9 billion |
| PwC | $53.0 billion |
| EY (Ernst & Young Global Ltd.) | $49.4 billion |
| KPMG (Klynveld Peat Marwick Goerdeler) | $2.55 billion |
Note: They are ranked on the basis of the latest revenue count of 2023.
(A) Deloitte
Deloitte Touche Tohmatsu Limited, commonly known as Deloitte, founded in 1845, London, United Kingdom. Founded by William Welch Deloitte.
Deloitte provides a network of multinational services and is one of the largest professional service providers globally. Deloitte has employed over 457,000 people worldwide as of latest 2023.
This global player provides its service in domains like audit and assurance, consulting, financial advisory, risk advisory, tax, and related services.
Deloitte influence spans across the globe, with it the approach remains same as deeply rooted in local expertise. Deloitte currently operates in more than 150 countries and territories. Deloitte also has its subsidiaries like, Deloitte UK, Monitor Deloitte, Deloitte Corporate Finance, etc.
Deloitte emerged as a pioneer in the digital transformation era. Deloitte not only guides and provides expert tips that guides clients through the complexities of digital evolution but also transforms challenges into opportunities.
revenue of Deloitte over the years in various service domains
| Year | Audit & Risk Advisory Revenue | Consulting Revenue | Tax Based Service Revenue | Financial Advisory Revenue |
| 2023 | $20.1 billion | $29.6 billion | $10.3 billion | $5.1 billion |
| 2022 | $18.4 billion | $25.8 billion | $9.9 billion | $5.5 billion |
| 2021 | $16.4 billion | $20.8 billion | $8.9 billion | $4.3 billion |
| 2020 | $15.5 billion | $19.8 billion | $8.7 billion | $3.8 billion |
According to the above data published by Statista Research of Deloitte, it can be stated that the revenue of Deloitte in various service domains have been increasing over the years, by providing its best services to its clients and becoming a leading player in the global sphere of consultancy.
(B) PwC
The second one among the big 4 consulting firms is Price Waterhouse and Coopers & Lybrand commonly known as PwC, founded in 1998, by Samuel Lowell Price, William Cooper, and Edwin Waterhouse. PwC, the consulting firm that combines strategy, innovation, technology, solutions in the global business landscape.
PwC not only excels in providing consulting services but also tailors its expertise to the different needs of each of the industries it serves. PwC provides its main services in Advisory, Tax, and in Assurance consulting services.
Deloitte current revenue for the year 2023 is $64.9 billion (upto 65.1B). Most of the revenue generated in 2023 by Deloitte is in consultancy service line.
It also serves other domains like, provides services in cyber security, financial risk & regulations, strategy consulting, management, technology consulting, etc.
PwC has its offices in more than 151 countries and is among the top consulting firms globally.
revenue of PwC over the years In Various Service Domains
| Year | Assurance Consulting Revenue | Advisory Consulting Revenue | Tax Consulting Revenue |
| 2023 | $18.73 billion | $22.5 billion | $11.77 billion |
| 2022 | $18.01 billion | $20.71 billion | $11.58 billion |
| 2021 | $17.07 billion | $17.03 billion | $11.03 billion |
| 2020 | $16.39 billion | $16.09 billion | $10.55 billion |
According to the data presented by Statista Research, the revenue of PwC has grown with each passing year. Currently the approximate revenue of 2023 for PwC accounts for $53 billion. The firm has grown in each of its segments but saw a huge rise in revenue in the advisory consultancy domain.
PwC is like a strategic partner, tailoring with best solutions and being one of the best consultancy firms.
(C) EY (Ernst & Young Global Ltd.)
Ernst and Young Global Ltd., commonly known as EY consulting firm, founded in 1989, by Alwin C Ernst & Arthur Young. EY consulting firm has emerged as the global player in providing its services in advisory, tax, strategy, transactions, financial domains.
EY with its deep knowledge and surety aims to help its clients through capitalizing new opportunities, and helping them in managing risks and achieving new growth and is among the big 4 consulting firms.
EY firm has around 700 offices in over 150 countries, marking its global expansion.
EY brings strategic foresights to help clients in whichever industry specific need they require and helps them to come out of the challenges and emerge as a prominent business in their sector.
revenue of EY over the years
| Year | Revenue |
| 2023 | $49.4 billion |
| 2022 | $45.42 billion |
| 2021 | $40 billion |
| 2020 | $37.2 billion |
Most of EY revenue comes from its assurance consultancy services, which accounts about one-third of total revenue. With each passing year the company is marking its strategic growth with an increase in its revenue each year. While it observes an 21.6% increase in its revenue in 2023.
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(D) KPMG
Klynveld Peat Marwick Goerdeler, commonly known as KPMG consulting firm, founded in 1987. It has a global network of professional services and is among the big 4 consulting firms. KPMG mainly provides its services in audit, tax, and consultancy services in businesses.
It is also one of the leading providers of risk, financial and business advisory, tax services, regulatory services, corporate governance, etc.
It operates in over 143 countries and territories, offering its consultancy services mainly for advisory, tax, and audit sectors.
revenue of KPMG Over The Years
| Year | Audit Consultancy Revenue | Advisory Consultancy Revenue | Tax Consultancy Revenue |
| 2022 | $11.85 billion | $15.44 billion | $7.35 billion |
| 2021 | $11.46 billion | $13.65 billion | $7.02 billion |
| 2020 | $11.07 billion | $11.67 billion | $6.48 billion |
According to the data by Statista, the consulting firm has witnessed an increase in its revenue each year. In 2022, KPMG was one of the highest grossing firms by providing service in the auditing consulting line.
For the current year, 2023, KPMG recorded a revenue of $2.55 billion, making its revenue rise each year. KPMG has recorded an revenue increase in each of its service domains every year.
Summing Up: Which One Is Leading?
There are many factors that can govern about which ones are leading in the line, in terms of revenue earning, Deloitte is leading among the rest by having an revenue of $64.9 billion, while the second one in the list i.e. PwC has a revenue of $53.0 billion, with the other two following in the race.
Each of these firms provides its best service, and their global reach, local expertise, steps of innovation, all cater to the success of the company, business, or organization and makes it into the sphere of the big 4 consulting firms.
