Custom consultations: Increased demand from a growing number of businesses will boost industry revenue

The IT Consulting industry in New Jersey covers a wide range of services that are reliant on an array of downstream markets. Since they typically meet with clients in-person, operators serve customers that are located within a certain radius. Overall, this industry is expected to grow at an annualized rate of 0.5% to $22.7 billion; primary growth factors include continued growth in the number of businesses in New Jersey, in addition to steadily increasing government expenditures. The number of businesses in New Jersey, which are a major downstream market for industry services, is projected to grow at an annualized rate of 0.8% during the five-year period. Sustained growth drivers are expected to lead to revenue growth of 0.6% in 2018, consistent with previous levels of growth...purchase to read more.

Industry Statistics & Market Size
Revenue
$23bn
Annual Growth 13-18
0.5%
Forecast Growth 18-23
Profit
Employment
113,594
Businesses
19,653

Industry Threats & Opportunities

  • Growth factors include continued growth in the number of businesses in New Jersey, in addition to steadily increasing government expenditures
  • Industry Report - Industry Key Buyers Chapter

    •The IT Consulting industry in New Jersey has a low level of market share concentration.•The state industry exhibits even less concentration than the national counterpart. The top four operators in New Jersey are expected to account for less than 2.0% of total revenue.•In New Jersey, 16.5% of establishments employ less than 20 workers according to Census reporting. This is significantly different than the national industry, in which 72.9% of establishments employ less than 20 employees.•Establishments in the state-level industry are more likely to employ between 20-249 employees (43.1% of New Jersey-based industry operators) or more than 250 employees (40.4%)...purchase to read more.

    Additional Insights for the IT Consulting in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the IT Consulting in New Jersey 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 Number of Businesses in New Jersey and Local and State Government Expenditure in New Jersey in the IT Consulting in New Jersey industry impact industry performance..

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    What's in this report

    What is the IT Consulting in New Jersey Industry?

    The IT Consulting industry in New Jersey 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 on-site management of computer systems and data processing facilities. This industry excludes packaged software publishers and off-site data processing and hosting services.

    Industry Products
  • Custom computer application design and development services
  • Computer systems design, development, and integration services
  • Information technology (IT) technical support services
  • Other custom application design and development services
  • Information technology (IT) technical consulting services
  • Industry Activities
  • Providing information technology 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
  • Number of Businesses in New Jersey
  • Local and State Government Expenditure in New Jersey
  • Population of New Jersey
  • Northeast Region Consumer Price Index

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - IT Consulting in New Jersey 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 computer application design and development services
  • Information technology (IT) technical support services
  • Computer systems design, development, and integration services
  • Other custom application design and development services
  • Information technology (IT) technical consulting services
  • Chart: IT Consulting in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Businesses
  • Federal government
  • State and local government
  • Not-for-profit organizations
  • Households
  • Chart: Major Market Segmentation for the IT Consulting in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs IT Consulting in New Jersey

  • Basis of Competition
    Barriers to Entry
    Accenture PLC, Cognizant Technology Solutions Corp, FTI Consulting Inc., Infosys Limited,
  • Table: Accenture PLC - financial performance
  • Table: Cognizant Technology Solutions Corp - financial performance
  • Table: FTI Consulting Inc. - financial performance
  • Table: Infosys Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the IT Consulting in New Jersey 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 New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Percentage of Services Conducted Online (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    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.
  • 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.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s IT Consulting in New Jersey Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    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 New Jersey:
    • 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 New Jersey 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 New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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