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Management Consulting in the US - Industry Market Research Report

Management Consulting in the US - Industry Market Research Report

  • March 2019
  • 41 pages
  • ID: 171073
  • Format: PDF
  • By Ibisworld

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Good counsel: The industry is expected to continue its expansion alongside growth in the broader macroeconomy

Abstract

Management Consulting in the US
Over the five years to 2019, the Management Consulting industry has been successful as strong corporate profit and increasing business expenditure have precipitated higher demand for advisory services. While the industry also benefits from some countercyclical demand, positive macroeconomic conditions and an improved business environment over the past five years have supported the industry’s expansion. In recent years, demand for this industry has been sourced from several different sectors and services. Demand from financial institutions and professional firms, such as private equity and asset management businesses, has improved during the current period as operators in this sector contracted industry consultants to provide advice on globalizing business operations and investing in new ventures overseas. Over the five years to 2024, the industry is expected to continue its expansion alongside growth in the broader macroeconomy. IT is expected to continue comprising a key growth area for operators, while sectors such as healthcare will also provide new business opportunities. Consolidation from the largest industry players is forecast to continue; however, the overall industry will likely continue to be dominated by nonemploying operators.

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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