Has the Consulting Market Finally Turned?
After nearly two years of falling demand, price pressure and cautious clients, the Nordic consulting market may finally be shifting.
SolidX AB — a Swedish mid-market consultancy — just delivered an upside profit warning and the strongest quarter in the company’s history. Despite a tough market, the company reported record profitability, driven by stronger pricing, stable utilisation and high consultant retention.
But the most interesting part isn’t just SolidX’s performance — it’s what it might signal for the entire sector.
A broader rebound ahead?
When one mid-sized consultancy hits its best quarter ever, it raises an important question:
Are more firms about to show stronger numbers?
Several trends point that way:
- postponed projects are restarting
- pricing pressure is easing
- utilisation is improving
- specialist consultants remain in high demand
If more companies report similar improvements, we could see something the sector hasn’t experienced since 2021.
A renewed wave of investor interest in consulting companies
With valuations currently at multi-year lows, even modest improvements in profitability could quickly shift sentiment.
What this means for consultants
A strengthening market also creates:
- more assignment stability
- greater confidence in long-term engagements
- rising rate stability after two years of compression
In short:
SolidX’s record-breaking quarter may be the first clear sign that the consulting market is turning — benefiting firms, consultants and investors alike.
This article was written by SolidX AB as a guest contribution to the Brainville blog and reflects their own insights and perspectives.