All systems go: Rising corporate profit will lead to increased use of industry services

The IT Consulting industry in Illinois is composed of companies that help businesses design, create and implement information technology (IT) systems. Due to the low level of capital intensity in the industry, the vast majority of operators are small nonemployers. As a result, the high number of small firms ensures that larger firms do not drastically raise prices too quickly. The industry has been growing over the past five years, albeit at a slower rate than the overall economy. The Illinois economy and job market have experienced some stagnation over the past five years, thus slowing this industry's growth. The state has contended with stagnating job growth in the manufacturing sector and above-the-national-average unemployment rates...purchase to read more.

Industry Statistics & Market Size
Revenue
$15bn
Annual Growth 12-17
0.4%
Forecast Growth 17-22
Profit
Employment
90,757
Businesses
21,306

Industry Threats & Opportunities

  • Technology trends have boosted demand for new services and encouraged companies to replace older technology
  • Stagnation in the manufacturing sector has been a major source of decreased business activity
  • The Illinois economy is expected to rebound over the next two years
  • Industry Report - Industry Investment Chapter

    The IT Consulting industry in Illinois has a very low level of capital intensity. For every $1.00 spent on labor in 2017, industry operators are estimated to spend just $0.01 on capital, down over the five-year period from $0.02 in 2012. The industry as a whole is a highly labor-intensive, service-oriented industry. The high percentage of revenue devoted to labor costs reflects the service-oriented nature of IT consulting and the high level of education and skill required of personnel. Larger industry firms are even more labor intensive because they employ more high-skilled staff to increase a firm's credibility to clients. Also, these larger firms generally spend more on research and development, forcing them to increase their spending on labor...purchase to read more.

    Additional Insights for the IT Consulting in Illinois Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the IT Consulting in Illinois Industry are

  • Adoption of a commercial focus
  • Access to the latest available and most efficient technology and techniques
  • Access to highly skilled workforce
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Private investment in computers and software in the IT Consulting in Illinois industry impact industry performance..

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    What's in this report

    What is the IT Consulting in Illinois Industry?

    The IT Consulting industry includes firms that provide the following services to client companies: writing, testing and supporting custom software; planning and designing integrated hardware, software and communication infrastructure; and managing on-site computer systems and data-processing facilities. This industry excludes packaged software publishers and off-site data-processing and hosting services.

    Industry Products
  • Custom application design and development services
  • Computer systems design, development, and integration services
  • IT infrastructure and network design services
  • IT technical support services
  • Other services
  • Industry Activities
  • Providing IT expertise for consumers
  • Writing, modifying, testing and supporting software to meet the specific needs of one client
  • Planning, design and integration of computer or network systems
  • On-site management and IT functions
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Private investment in computers and software
  • Government consumption and investment
  • Number of businesses

  • Current Performance
  • Increased demand leads to augmented revenue
  • Chart: Revenue Growth

  • Industry Outlook
  • Economic growth spurs upward revenue pressure
  • Table: IT Consulting in Illinois Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - IT Consulting in Illinois Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Wholesale Trade
  • Information
  • Finance and Insurance
  • Healthcare and Social Assistance
  • Public Administration

  • Key Selling Industries
  • Communication Equipment Manufacturing
  • Computer Manufacturing
  • Computer Peripheral Manufacturing
  • Information
  • Software Publishing

  • Products & Services
  • Custom application design and development services
  • Computer systems design, development, and integration services
  • Other services
  • IT infrastructure and network design services
  • IT technical support services
  • Chart: IT Consulting in Illinois Industry Products and Services Segmentation

  • Major Markets
  • Financial services
  • Manufacturing and retail
  • Communications and other technical sectors
  • Healthcare sector
  • Government agencies and non-profit organizations
  • Individuals
  • Chart: Major Market Segmentation for the IT Consulting in Illinois Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs IT Consulting in Illinois

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the IT Consulting in Illinois Industry

  • Accenture PLC, Dell Inc., Hewlett Packard Enterprise Company, International Business Machines Corp.,
  • Table: Accenture PLC - financial performance
  • Table: Dell Inc. - financial performance
  • Table: Hewlett Packard Enterprise Company - financial performance
  • Table: International Business Machines Corp. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the IT Consulting in Illinois Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the IT Consulting in Illinois Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of Businesses in Illinois (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Big Data Analytics
  • The method by which a company combs through a large collection of unorganized data for potential trends and insights.
  • Cloud Computing
  • Computing model in which companies' computer applications are hosted in outside servers accessible via the internet and managed by third-party firms.
  • Commoditization
  • The trend toward uniformity in product offerings and price; commonly cited as a cause of declining prices and profitability in computer hardware manufacturing.
  • Information Technology (It)
  • The design, development, implementation, support or management of computer-based information systems.
  • Integrated System
  • A preintegrated, optimized combination of software and hardware. Such a system increases ease in installing updates and improves performance, scalability and reliability.
  • Outsource
  • To procure goods or services under contract with an outside supplier.
  • Server
  • Any combination of hardware or software designed to provide services to clients; it generally refers to a center of a network, where information can be shared via an online connection.
  • Software As A Service (Saas)
  • Software that is deployed over the internet and runs behind a firewall in a person's local area network or personal computer.
  • Third Platform
  • A collection of all modern IT technologies introduced in the past decade; includes cloud computing, social networking, mobile computing and 'big data' analytics.
  • Virtualization
  • The use of software programs to operate multiple virtual server systems on one physical server.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on IT Consulting in Illinois provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on IT Consulting in Illinois:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The IT Consulting in Illinois market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on IT Consulting in Illinois, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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