More than half of the global companies surveyed by Deloitte and The Deal for a study expect mergers and acquisitions to play a significant role in their growth strategies, amid a revival in the economic situation.

According to the study by global consultancy Deloitte and media and information firm The Deal, companies believe M&A deals would help in boosting their revenue growth over the next few years.

"As companies of every size and industry plan their growth strategies as the economy rebounds, more than half (52 per cent), expect mergers and acquisitions (M&A) to add 5 per cent or more to revenue growth on a compound annual basis over the next two to five years," the survey stated.

This estimate is significant when compared to the average annual revenue growth of the companies, included in the global benchmark index Standard & Poors 500, of around four per cent over the past 10 years.

The survey also found that as the pace of competitive change accelerates, most companies are acknowledging corporate development has become critical to their overall success and expect it to play a leading role in this next phase of growth.

Corporate development is loosely defined as a broad range of activities that support and enable M&A-related growth.

The results of the survey show a portrait of how this critical function is managed in a wide range of companies and what factors contribute most to achieving effective corporate development strategies.

"Seventy per cent of survey respondents said compared to today, corporate development will be more important in achieving their company's strategic goals over the next few years," Deloitte Financial Advisory Services LLP principal Chris Ruggeri said.

"Additionally, stature of corporate development executives in firms appears to be gaining prominence with most serving as important advisors to chief executive officers and chief financial officers in shaping, validating and executing strategy," Ruggeri added.