Mergers And Acquisitions Advisory Market Size, Share & Trends, 2033

Mergers And Acquisitions Advisory Market Overview

The Mergers And Acquisitions Advisory Market size was valued at USD 27946.63 million in 2024 and is expected to reach USD 34802.12 million by 2033, growing at a CAGR of 2.5% from 2025 to 2033.

The M&A Advisory Market has witnessed significant activity in recent years. In 2023, global M&A deal value reached approximately $3.2 trillion, with over 49,000 transactions completed. Notably, the United States accounted for 38% of the global market share, driven by robust corporate activity and favorable regulatory conditions. Europe followed with a 25% share, while Asia-Pacific contributed 22%, reflecting growing cross-border transactions and economic expansion in emerging markets. The financial services sector led in deal volume, constituting 27% of total M&A activity, followed by technology at 21% and healthcare at 15%. Investment banks played a pivotal role, advising on 76 deals valued over $1 billion, including 13 mega-deals exceeding $10 billion.

Key Findings

Top Driver Reason: Increased corporate restructuring and strategic consolidation across industries have propelled M&A activities, with companies seeking growth through acquisitions.

Top Country/Region: The United States led the M&A advisory market, contributing 38% to the global share, attributed to a mature financial ecosystem and high deal activity.

Top Segment: The financial services sector dominated M&A advisory services, accounting for 27% of total deal volume, driven by complex transactions requiring expert advisory.

Mergers and Acquisitions Advisory Market Trends

The M&A advisory market has been influenced by several notable trends. Private equity firms held approximately $1 trillion in unsold assets by mid-2025, leading to cautious investment strategies. Despite this, the IPO market showed signs of revival, with notable listings like Chime's $18.4 billion debut. Anticipation of looser regulations in the U.S. has stirred deal-making enthusiasm. In 2025, only 78 mergers occurred, marking a potential low, but expectations for increased activity in 2026 are high due to regulatory reforms. The technology sector remained a top choice for dealmakers, accounting for 27% of deal value. Cybersecurity and AI sectors presented strong opportunities, with significant deals like Pfizer's $43 billion acquisition of Seagen in healthcare. Asia-Pacific, particularly Southeast Asia, experienced a 51% drop in deal value in the first nine months of 2024 compared to the same period in 2023. However, Singapore continued to lead M&A activity in the region, driven by its favorable investment climate.

Mergers and Acquisitions Advisory Market Dynamics

DRIVER

Increased Corporate Restructuring and Strategic Consolidation

The primary driver of the M&A advisory market is the surge in corporate restructuring and strategic consolidation. Companies are actively seeking growth opportunities through mergers and acquisitions to enhance competitiveness and market share. In 2023, the financial services sector alone accounted for 27% of total M&A activity, highlighting the demand for expert advisory in complex transactions.

RESTRAINT

Regulatory Uncertainties and Economic Instabilities

Regulatory uncertainties and economic instabilities pose significant restraints. Global uncertainties, high U.S. interest rates, and unpredictable tariff policies have stalled M&A activities. By mid-2025, the number and value of deals remained flat, with 4,535 deals totaling $567 billion, indicating cautious investment approaches.

OPPORTUNITY

Technological Advancements and Digital Transformation

Technological advancements and digital transformation present substantial opportunities. The technology sector accounted for 27% of deal value in 2023, with cybersecurity and AI sectors offering strong deal-making prospects. Companies are leveraging M&A to acquire innovative technologies and stay competitive.

CHALLENGE

Integration Complexities and Cultural Differences

Integration complexities and cultural differences remain challenges in M&A transactions. Successful integration requires careful planning and execution, as misalignments can lead to value erosion. The failure rate of M&A deals due to integration issues underscores the need for comprehensive advisory services.

Mergers And Acquisitions Advisory Market Segmentation

The M&A advisory market is segmented by type and application.

By Type

Reigning Investment Banking Firms: These firms held the largest market share in 2023, attributed to their expertise in facilitating complex financial transactions. Their global networks and comprehensive services drive demand, especially in cross-border M&A activities.
Banks: Traditional banks continue to play a role in M&A advisory, particularly in providing financing solutions. Their established client relationships and financial capabilities make them integral to mid-sized transactions.

By Application

Mergers Advisory: This segment involves advising companies on combining operations. In 2023, mergers advisory services were in high demand, especially in sectors like technology and healthcare, where consolidation offers strategic advantages.
Acquisitions Advisory: Focused on guiding companies through the process of acquiring other businesses, this segment saw significant activity in 2023, with firms seeking growth through strategic acquisitions, particularly in emerging markets.

Mergers And Acquisitions Advisory Market Regional Outlook

North America

North America dominated the M&A advisory market in 2024, holding a 38% share. The United States led in M&A volume due to strong capital markets and active private equity participation. Regulatory clarity and a stable legal framework contributed to a conducive environment for high-value transactions.

Europe

Europe accounted for 25% of the global M&A advisory market in 2024. Countries like the United Kingdom, Germany, and France were key contributors, with robust activity in industrial manufacturing and financial services. Despite regulatory challenges, advisory firms adapted by focusing on ESG due diligence and cross-border capabilities.

Asia-Pacific

Asia-Pacific held a 22% share of the global market in 2024, emerging as the fastest-growing region. Market expansion was fueled by rising corporate restructuring and increased foreign direct investment. Technology and telecommunications sectors were key drivers of advisory demand.

Middle East & Africa

The Middle East & Africa region held 6% of the global market share in 2024. Economic diversification initiatives, particularly in the Gulf states, spurred deal-making in sectors like real estate and energy. South Africa recorded the continent’s highest deal value at $3.5 billion.

List of Top Mergers And Acquisitions Advisory Market Companies

Goldman Sachs
Morgan Stanley
JP Morgan
Citi (Citigroup Inc.)
Bank of America Merrill Lynch
Barclays
Credit Suisse
Deutsche Bank
UBS Group AG
Rothschild & Co
Lazard Ltd
Evercore Inc.
Jefferies Group LLC
Houlihan Lokey, Inc.
Perella Weinberg Partners
Moelis & Company
PJT Partners Inc.
Nomura Holdings Inc.
Macquarie Group
HSBC Holdings plc
BNP Paribas
Wells Fargo Securities
Alantra Partners
Raymond James Financial, Inc.
Lincoln International LLC
Centerview Partners LLC
Baird (Robert W. Baird & Co.)
Guggenheim Partners
Canaccord Genuity Group Inc.
Greenhill & Co.

These firms have been actively involved in both domestic and cross-border M&A transactions, advising clients across a range of sectors including financial services, technology, healthcare, energy, and industrials. Their global presence, strategic advisory services, and robust deal execution capabilities make them vital players in the M&A advisory ecosystem.

Investment Analysis and Opportunities

The Mergers and Acquisitions Advisory market has shown resilient investment patterns, particularly from private equity firms, institutional investors, and sovereign wealth funds. In 2024, private equity firms globally held approximately $1 trillion in uninvested capital, commonly referred to as “dry powder,” indicating strong investment potential in the advisory ecosystem. This surplus of capital has translated into a steady pipeline of buy-side deals, especially in industries like healthcare, technology, and financial services. Notably, the average holding period for private equity exits extended to 8.5 years in 2024, reflecting a cautious but strategic approach to investments. Advisory firms are also expanding into emerging markets, including Southeast Asia, Eastern Europe, and parts of Africa, where deal volumes rose by 11.2% collectively in early 2025. Cross-border activity has been fueled by geopolitical realignments and supply chain shifts, especially in manufacturing and digital infrastructure sectors. In addition, the increase in special purpose acquisition companies (SPACs) has injected further momentum into the advisory landscape. Over 92 SPAC mergers were completed in the past 12 months, contributing to a deal value exceeding $120 billion. Furthermore, regulatory shifts in the United States and Europe have attracted a new wave of capital deployment in green energy and sustainable development projects, creating advisory opportunities in ESG-compliant investments. The technology sector continues to be a magnet for advisory deals, with AI and cybersecurity companies accounting for nearly 18% of all tech-related acquisitions in 2024. In North America alone, over 530 advisory-led deals valued above $100 million were recorded in the first three quarters of 2024. This trend underlines the increasing demand for specialized M&A advisors who can guide corporations, private equity firms, and venture capitalists through intricate deal structures, valuation modeling, and risk assessments. Overall, the convergence of financial surplus, global expansion, sector-specific demand, and favorable policy frameworks is opening wide-ranging investment opportunities in the M&A advisory market across both developed and emerging economies.

New Product Development

Innovation in the M&A advisory space has evolved beyond traditional financial consulting to include an array of technology-driven solutions, tools, and services. Many leading advisory firms have invested in proprietary platforms that leverage artificial intelligence and machine learning to enhance deal sourcing, risk assessment, and real-time market intelligence. For example, in 2024, more than 62% of global investment banks integrated AI-based analytics into their due diligence and valuation processes. Firms like JP Morgan and Goldman Sachs have deployed in-house AI tools that reduced manual research time by 30%, while also improving the accuracy of financial forecasting models. Additionally, M&A advisors are now offering ESG-aligned advisory services to clients in response to growing demand for sustainable and responsible investment practices. By 2025, nearly 47% of all major advisory deals included ESG evaluation components as part of the due diligence checklist. Digital collaboration tools have also seen significant adoption; over 74% of advisory firms reported using cloud-based platforms for secure document management, stakeholder engagement, and real-time negotiation workflows. Furthermore, the development of client-centric dashboards and predictive modeling tools has transformed client interactions, enabling more data-driven strategic decisions. New product offerings have also expanded into mid-market and SME segments, which traditionally had limited access to high-end advisory services. Firms like Houlihan Lokey and Lincoln International launched tailored packages for these markets in 2024, boosting their deal volumes by over 18%. Blockchain-based solutions for transparent contract execution and automated compliance verification have also begun to make inroads into the advisory space, particularly in sectors involving cross-border transactions. The emphasis on digital innovation is no longer optional but a competitive necessity, as clients demand faster turnaround times, better analytics, and secure environments. With digital integration, sector-focused advisory models, and client-customized platforms becoming mainstream, the M&A advisory market is undergoing a technological transformation that is redefining the very nature of deal-making.

Five Recent Developments

Goldman Sachs Retains Top M&A Advisor Position for Seventh Consecutive Year: In 2023, Goldman Sachs continued its dominance by advising on 235 deals, with a combined value exceeding $671 billion. The firm led multiple high-profile transactions, including two of the largest deals of the year, securing a 31.2% market share in global M&A advisory. This marks its seventh year at the top, demonstrating consistent leadership in deal execution and strategic advisory.
Citigroup Appoints Drago Rajkovic to Strengthen Global M&A Leadership: In early 2024, Citigroup named Drago Rajkovic as the global co-head of M&A. Rajkovic brings more than 30 years of experience and was instrumental in over $400 billion worth of deals during his tenure at Credit Suisse and Deutsche Bank. His appointment is part of Citigroup’s strategy to expand its global advisory presence and improve its ranking among the top 10 advisory firms.
Morgan Stanley Leads Advisory in TMT Sector with $94.7 Billion Deal Volume: Morgan Stanley emerged as the top M&A advisor in the technology, media, and telecommunications (TMT) sector in the first three quarters of 2023. The firm advised on 89 deals in TMT alone, with a combined value of $94.7 billion. This included major transactions such as a $32 billion software acquisition in the U.S. and a $21 billion telecom merger in Europe.
Alantra Restructures Investment Banking Division to Cut Costs and Increase Deal Focus: In 2024, Alantra overhauled its investment banking operations by reducing fixed expenses by 25% and implementing a new sector-based organizational model. The restructuring involved consolidating deal teams under global sector heads and increasing cross-border cooperation. These changes aim to improve deal origination and execution, particularly in the mid-market segment.
HSBC Enhances M&A Coverage in Asia with Appointment of Christopher Chua: HSBC appointed Christopher Chua as its new global head of M&A in 2024, based in Singapore. With over 25 years of experience in Asia-Pacific transactions, Chua’s role signals HSBC’s intent to expand its advisory services in high-growth Asian markets. The bank reported a 19% increase in deal activity in Southeast Asia following his appointment, focusing on cross-border mergers and strategic acquisitions.

Report Coverage of Mergers and Acquisitions Advisory Market

This report offers an extensive evaluation of the Mergers and Acquisitions Advisory Market, structured to provide actionable insights for industry professionals, investors, analysts, and stakeholders. The report begins with a global market overview, detailing transaction volumes, regional distribution, and the evolving landscape of deal-making across key sectors such as financial services, technology, industrials, and healthcare. It provides segmented analysis based on type—such as reigning investment banking firms and traditional banks—as well as application areas including mergers advisory and acquisitions advisory. The report explores the dynamics shaping the market, including drivers like increased corporate restructuring and strategic consolidations, along with restraints such as regulatory uncertainties and market volatility. It covers market opportunities emerging from technological innovation and expanding advisory needs in emerging economies, while also identifying challenges such as integration complexities and cultural mismatches in cross-border deals. Each regional market—North America, Europe, Asia-Pacific, and the Middle East & Africa—is assessed in detail, highlighting key statistics and investment trends. The report also profiles the top-performing companies in the space, such as Goldman Sachs and Morgan Stanley, based on number of deals closed and market influence. Additionally, the report incorporates a trend analysis featuring recent innovations in digital tools, ESG advisory integration, and client engagement strategies. Five major developments from 2023 to 2024 are also included to contextualize current shifts in the market. The investment analysis section provides a breakdown of capital flows, private equity participation, and sector-specific focus areas. A dedicated segment on new product development showcases how advisory firms are using AI, data analytics, and cloud computing to enhance service delivery. The entire content structure is supported by relevant facts and figures, providing a clear, data-backed picture of the M&A advisory ecosystem, without relying on revenue or CAGR data. This report serves as a robust strategic resource for stakeholders aiming to navigate, invest in, or expand within the dynamic M&A advisory market.