Consulting Industry Market Research

Competitive Intelligence, Business Analysis, Forecasts, Market Size, Trends, Companies, Statistics

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Consulting OVERVIEW

Global consulting industry revenues (including HR, IT, strategy, technical, operations, management and business advisory services) will be an estimated $625 billion in 2022, according to Plunkett Research estimates.  In the U.S., consulting of all types, including management, scientific and technical, generated $330.3 billion during 2022, up from $303.3 billion the previous year.  Accounting and related services (such as tax return preparation) generated an additional $184.5 billion in 2021, up from about $170.9 billion during 2020, according to the U.S. Bureau of the Census and Plunkett Research estimates.
The Coronavirus pandemic dampened budgets and spending at many types of corporations, government agencies and other enterprises.  Some consulting projects were postponed or reduced.  At the same time, however, consultants who work in the areas of ecommerce, online systems, HR, cybersecurity, strategy, supply chain and other areas may have seen booming business.  Going forward, structural changes in business, industry, education and government will create opportunities for many types consultancies that can deliver a true return on investment along with innovative ways to cope with rapid change.

Positive factors for the consulting industry over the mid-term:
1) Continued growth in health care expenditures and significant changes in health care coverage are creating demand for consultants.  This includes a focus on greater operating efficiencies and cost controls for care providers, creating a perfect environment for consulting.  Also, consultancies that assist enterprises in data analysis, in such areas as personalized medicine and patient outcomes, will be in demand.
2) In nearly all business sectors, consultancies that focus on projects that clearly reduce business costs and enhance operating profits in a reasonably short period of time will find a ripe corporate market (such as consultants who focus on cash flow enhancement, supply chain efficiency and automation).
3) Vast labyrinths of government regulation in the U.S. and in the UK/EU, for example in the ecommerce, consumer privacy and banking and investment industries, are creating numerous opportunities for consultants who can show companies how to navigate rapidly changing relationships between government and business, or how to deal with government oversight.
4) Consultants who assist firms in lowering employee costs are in high demand, as are those who specialize in change management (such as work-from-home) and employee productivity enhancement.
5) Consultants and advisors in information technology will be in high demand in the hot areas of artificial intelligence (AI), automation, the internet of things (IoT), data analytics, cybersecurity and technologies that enable remote/mobile workers.
6) Defense spending in the U.S. and some EU nations may lead to additional opportunities for defense-related consulting.
Source: Plunkett Research, Ltd.

     The top specialties in the consulting field are led by management consulting and technology consulting.  Management consultants assist companies with restructuring or strategy development, in order to enhance operating efficiencies, increase productivity and increase return on assets, as well as significant assistance in identifying and merging with other firms that are targeted for acquisitions.
Technology consultancies offer skilled services across the full spectrum of technology needs.  This includes consulting in telecommunications, software development, supply chain enhancement, factory automation, systems implementation and enterprise-level databases.  In recent years, much of this work has shifted to projects involving cloud computing, data analytics, mobile apps and mobile tools for workers in the field.  Machine learning and artificial intelligence (AI) work will be among the fastest-growing specialties for the long-term.  Consulting firms based in India have carved out a very significant market share in this field.  Other significant sectors within consulting include human resources and employee benefits consulting; risk management; and environmental and regulatory compliance.

WE PROFILE HUNDREDS OF TOP COMPANIES:

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PLUNKETT PROVIDES IN-DEPTH STATISTICS TABLES COVERING THE FOLLOWING INDUSTRY TOPICS:

Top Companies Profiled

The following is a partial listing for this industry. As a subscriber, you will have access to the leading companies and top growth companies. This includes publicly-held, private, subsidiary and joint venture companies, on a global basis as well as in the U.S.


Hundreds of Top Companies Profiled, Including:

PLUNKETT PROVIDES UNIQUE ANALYSIS OF THE FOLLOWING TRENDS THAT ARE DRIVING THIS INDUSTRY:

Key Findings:

  • Plunkett Research analyzes the top trends changing the industry, and provides in-depth industry statistics. In addition, this publication profiles the top 250 companies in Consulting.

Available Formats:

  • Printed Almanac: ISBN 978-1-62831-612-4 (Available Now)
  • E-book: ISBN 978-1-62831-930-9 (Available Now)
  • Plunkett Research Online (Subscribers)

Key Features Include:

  • Industry trends analysis, market data and competitive intelligence
  • Market forecasts and Industry Statistics
  • Industry Associations and Professional Societies List
  • In-Depth Profiles of hundreds of leading companies
  • Industry Glossary
  • Link to our 5-minute video overview of this industry

Pages: 358

Statistical Tables Provided: 4

Companies Profiled: 238

Geographic Focus: Global

Price: $379.99

Key Questions Answered Include:

  • How is the industry evolving?
  • How is the industry being shaped by new technologies?
  • How is demand growing in emerging markets and mature economies?
  • What is the size of the market now and in the future?
  • What are the financial results of the leading companies?
  • What are the names and titles of top executives?
  • What are the world’s top companies and what are their revenues?

This feature-rich book covers competitive intelligence, market research and business analysis—everything you need to know about the consulting business including:

  1. Introduction to the Consulting Industry
  2. The Coronavirus’ Effect on the Consulting Industry
  3. Consulting in Emerging Nations/The Offshoring of Consulting Projects
  4. Management Consulting and Consulting to Major Corporations
  5. Consulting to Governments/U.S. Federal and State Consulting Contracts
  6. Federal Government Consulting Contracts Are Massive in IT, Defense & Facilities
  7. IT Consulting/Software Consulting/Computer Operations Consulting
  8. Trends in Manufacturing, such as Original Design Manufacturers (ODMs), Lead to Collaboration and Consulting-Like Services
  9. Consulting Firms Accept Assignments with Contingency Fees
  10. Consulting Firms Acquire Digital Advertising Agencies, Extending Their Marketing Services
  11. Accounting Firms Taking Large Market Share of Consulting Contracts
  12. Many Industry Sectors Seek Consulting and Outsourcing Income, Competing with Pure Consultancies
  13. Major Corporations and Organizations Develop Internal Consultants and Seek Outside Clients
  14. Corporate Clients Want Solid Returns on IT Investments
  15. Consultancies Position Themselves to Serve Global Markets and Multinational Corporations
  16. Offshoring to India Drives Changes in Global Consulting
  17. BPO and KPO: White-Collar and Professional Tasks Are such as Law and Accounting Are Outsourced/Call Centers Become More Sophisticated
  18. Robotic Process Automation (RPA) Is Replacing Human Workers
  19. New MBAs Desire Consulting and Accounting Jobs

Consulting Industry Statistics

  1. Consulting Industry Statistics and Market Size Overview
  2. Consulting Industry Revenue & Expenses, U.S.: 2015-2020
  3. Management Consulting Companies: Estimated Sources of Revenue, U.S.: 2015-2019
  4. Consulting Industry Employment, U.S.: 2015-March 2021

Companies Mentioned Include:

  • Abt Associates Inc
  • Arthur D Little
  • Helios & Matheson Analytics Inc
  • ABB LTD
  • Abelica Global
  • Affiliated Computer Services Inc
  • PA Consulting Group
  • Randstad Holding NV
  • Amey plc
  • Analysts International Corporation

Organizations that have used our research and products

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INDUSTRY ANALYTICS REPORTS

Industry-specific operating benchmarks, industry financial statement averages, revenue forecasts, market size, statistics, company ranks and comparisons. Choose from 550+ Industries. Updated regularly. Instant download. Our unique reports save you countless hours of research time and effort. Used by the world’s top consulting, strategy and investment pros.
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CORPORATE BENCHMARKS REPORTS

Company-specific operating benchmarks (current and historical), benchmarked against industry-peers’ averages. Revenue forecasts, market size, statistics, company ranks and comparisons. Choose from 4000+ companies. Updated regularly. Instant download. Our unique reports save you countless hours of research time and effort. Used by the world’s top consulting, strategy and investment pros.
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This industry onlyPublication date: Jul 2022
ISBN-13: 978-1-62831-930-9
ISBN-13: 978-1-62831-612-4
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