Post-pandemic uncertainty to support near-term demand
CLEVELAND, August 19, 2022 /PRNewswire/ — Management consulting revenue is expected to grow 4.9% annually in nominal dollars through 2026, according to Management consulting services: United States, a report recently published by Freedonia Focus Reports. Management consulting service providers are expected to benefit from non-residential fixed investment gains, in turn propelled by continued growth in consumer spending and rising after-tax corporate profits. Companies will continue to use these profits to invest in new projects, which will drive demand for consultancy to advise on these projects and improve market outcomes. Clients will also be incentivized to spend on consulting services due to ongoing challenges and opportunities, such as cybersecurity, increasing regulation, data privacy, advent of IoT-connected manufacturing machines (IoT), big data, artificial intelligence and supply chain challenges. . However, faster increases will be limited by competition for internal company resources, as company leaders must choose between hiring consultants or using company staff.
Management consulting services revenue is expected to grow 4.0% in 2022. Companies trying to navigate and plan for the ongoing impacts of the COVID-19 pandemic, such as changes in labor relations and Government regulations, as well as the ongoing realignment of international relations disrupting supply chains and consumer markets, will fuel the demand for advisory services.
This and other key information is presented in Management consulting services: United States. This report forecasts 2022 and 2026 U.S. management consulting services revenue in nominal U.S. dollars. Total revenues are segmented by service in terms of:
- Technological Information (IT)
- operations and supply chain
- human ressources
- other consulting services such as design, sustainability and resource productivity
- other sources of revenue such as implementation services not combined with consulting
To illustrate historical trends, total revenue and different segments are provided in annual series from 2011 to 2021. Employer enterprises, establishments and employment are provided in annual series from 2009 to 2019.
This report represents the earnings of employers and non-employers. With the exception of actuarial consulting services, discrete consulting segments include the provision of advice and its implementation. This report excludes sectors such as private equity, portfolio management, investment advisory, professional training and management development, executive search and market research. Also excluded are environmental consultancy services and other scientific and technical consultancy services (eg agricultural, economic and security consultancy).
More information on the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus reports, providing up-to-date, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, the Focus report’s coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Service & Industry reports can be purchased at Freedonia Tuning Reports Where MarketResearch.com.
The analysis is intended to guide the busy reader through relevant topics in quick succession, including:
- total historical market size and industry production
- segmentation by products and markets
- identification of market drivers, restraints and key indicators
- outlook segment by segment in 5-year forecasts
- supply base survey
- suggested resources for further study
SOURCE The Freedonia Group