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Help wanted: Improved economic conditions will boost consulting demand
Management Consulting in the US
Over the past five years, the Management Consulting industry has been successful as stronger corporate profitability and increasing business expenditure resulted in higher demand for advisory services. In recent years, demand for this industry has come from a number of different sectors and services. Demand was strong from financial institutions and professional firms and healthcare companies have also been a boon to the industry.
Additionally, the ongoing transition toward digital technology has provided new opportunities for operators.
Over the next five years, the industry is expected to grow with the general US economy. Information technology will continue to be a key growth area for firms, while other sectors, such as healthcare, also provide new business opportunities. Consolidation from the largest industry players is forecast to continue; however, the overall industry structure will continue to be dominated by small, nonemploying operators.
Overall, industry revenue is forecast to increase in the five years to 2022.Management consultants advise businesses, nonprofits and public-sector agencies in the following areas: organizational design, human resources, corporate strategy, information technology strategy, marketing and sales, finances and logistics.
This industry excludes establishments providing day-to-day administrative services and establishments that are concentrated in recruitment, training, public relations, market research, engineering design, computer systems design and investment advice.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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