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Scientific & Economic Consulting in the US Industry Data and Analysis
Scientific and economic consultants were boosted by downstream client demand for economic guidance and robust federal policies in areas like infrastructure and national defense. Consultants’ provision of a diverse service range with varying degrees of specialization across the public and private sectors helped generate countercyclical demand that boosted consultant demand amid inflationary spikes in 2022 and interest rate hikes in 2023. Major sectors, such as finance and retail, procured consultant services to assist with economic forecasting, particularly amid sweeping new tariffs implemented by the Trump administration in 2025 that significantly altered economic forecasting. Consulting's highly specialized workforce is also very experienced in touting the financial benefits of consulting for business revenue for targeted clients, which helped retain clients stressed by consumer changes, such as retail and wholesale businesses. Revenue expanded at a CAGR of 3.4% to an estimated $63.6 billion over the past five years, including an estimated 1.9% boost in 2026 alone, when profit reached 16.2%.
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What's included in this industry analysis
IBISWorld's research coverage on the Scientific & Economic Consulting industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Scientific & Economic Consulting industry in the United States operates under the NAICS industry code 54169. Companies in this industry provide advice and assistance to businesses and other organizations on scientific and technical issues. The industry includes a range of specialist consulting activities, primarily in the areas of economic, energy and mineral, security and agricultural analysis. This industry excludes establishments that derive their revenue primarily from environmental consulting and remediation, geophysical surveying and mapping or oil and gas exploration. Related terms covered in the Scientific & Economic Consulting industry in the United States include private and public litigation, agronomy, research and development (r&d) and sequestration.
What's included in this industry?
Products and services covered in Scientific & Economic Consulting industry in the United States include Agricultural, fisheries and biological consulting services, Economic consulting services and Safety and security consulting services.
What companies are included in this industry?
Companies covered in the Scientific & Economic Consulting industry in the United States include Api Group Corporation.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Scientific & Economic Consulting industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Scientific & Economic Consulting industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Scientific & Economic Consulting industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Scientific & Economic Consulting industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Scientific & Economic Consulting industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Scientific & Economic Consulting industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Scientific & Economic Consulting industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Scientific & Economic Consulting industry in the United States.
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Frequently Asked Questions
What is the market size of the Scientific & Economic Consulting industry in the United States in 2026?
The market size of the Scientific & Economic Consulting industry in the United States is $63.6bn in 2026.
How many businesses are there in the Scientific & Economic Consulting industry in the United States in 2026?
There are 173k businesses in the Scientific & Economic Consulting industry in the United States, which has grown at a CAGR of 3.7 % between 2021 and 2026.
How may import tariffs affect the Scientific & Economic Consulting industry in the United States?
The Scientific & Economic Consulting industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Scientific & Economic Consulting industry in the United States?
The Scientific & Economic Consulting industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Scientific & Economic Consulting industry in the United States grown or declined over the past 5 years?
The market size of the Scientific & Economic Consulting industry in the United States has been growing at a CAGR of 3.4 % between 2021 and 2026.
What is the forecast growth of the Scientific & Economic Consulting industry in the United States over the next 5 years?
Over the next five years, the Scientific & Economic Consulting industry in the United States is expected to grow.
What are the biggest companies in the Scientific & Economic Consulting industry in the United States?
The biggest company operating in the Scientific & Economic Consulting industry in the United States is Api Group Corporation
What does the Scientific & Economic Consulting industry in the United States include?
Energy, mining and geological consulting services and Agricultural, fisheries and biological consulting services are part of the Scientific & Economic Consulting industry in the United States.
Which companies have the highest market share in the Scientific & Economic Consulting industry in the United States?
The company holding the most market share in the Scientific & Economic Consulting industry in the United States is Api Group Corporation.
How competitive is the Scientific & Economic Consulting industry in the United States?
The level of competition is high and increasing in the Scientific & Economic Consulting industry in the United States.
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