Well-managed: Rising corporate profit will benefit the industry despite lower business formation

The Management Consulting industry in New Jersey is forecast to expand at an annualized rate of 1.5% over the five years to 2018. This includes an expected 2.8% jump in 2018, bringing total industry revenue to $9.0 billion. The industry has an outsized importance in the New Jersey economy relative to other states, particularly within the Tri-State area. Strong demand conditions from the private sector have enticed new operators to enter the industry, with the number of industry enterprises expected to rise an annualized 2.3% during the five-year period to total 27,093 independent companies. Similarly, the expanding number of industry operators in the state has precipitated an increase in the industry's workforce; the number of industry employees is forecast to rise an annualized 3.1%...purchase to read more.

Industry Statistics & Market Size
Revenue
$9bn
Annual Growth 13-18
1.5%
Forecast Growth 18-23
Profit
Employment
59,470
Businesses
27,292

Industry Threats & Opportunities

  • Strong demand conditions from the private sector have enticed new operators to enter the industry
  • Additional Insights for the Management Consulting in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Management Consulting in New Jersey Industry are

  • Ability to compete on tender
  • Well-developed internal processes
  • Access to highly skilled workforce
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Number of Businesses in New Jersey in the Management Consulting in New Jersey industry impact industry performance..

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    What's in this report

    What is the Management Consulting in New Jersey Industry?

    Management consultants advise businesses, nonprofits and public-sector agencies in the following areas: organizational design, human resources, corporate strategy, information technology strategy, marketing and sales, finances and logistics. This industry excludes establishments providing day-to-day administrative services and establishments that are concentrated in recruitment, training, public relations, market research, engineering design, computer systems design and investment advice.

    Industry Products
  • Corporate strategy
  • Marketing and sales
  • Process and operations management
  • Human resources advisory
  • Financial advisory
  • Other consulting services
  • Industry Activities
  • Actuarial, employee benefits and compensation consulting services
  • Administrative and general management consulting services
  • Marketing consulting services
  • Process and logistics consulting services
  • 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
  • Number of Businesses in New Jersey
  • Government consumption and investment
  • Consumer spending in New Jersey

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Management Consulting in New Jersey Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Utilities
  • Manufacturing
  • Finance and Insurance
  • Healthcare and Social Assistance
  • Public Administration

  • Key Selling Industries
  • Commercial Leasing
  • Computer Stores
  • Office Supply Stores

  • Products & Services
  • Corporate strategy
  • Marketing and sales
  • Other consulting services
  • Process and operations management
  • Human resources advisory
  • Financial advisory
  • Chart: Management Consulting in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Government organizations
  • Consumer products and manufacturing companies
  • Financial services companies
  • Healthcare and life sciences companies
  • Technology and media companies
  • Individuals and nonprofit organizations
  • Energy and utilities companies
  • Chart: Major Market Segmentation for the Management 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 Management Consulting in New Jersey

  • Basis of Competition
    Barriers to Entry
    Accenture PLC, Deloitte Touche Tohmatsu LLC, McKinsey & Company, PricewaterhouseCoopers LLP,
  • Table: Accenture PLC - financial performance
  • Table: Deloitte Touche Tohmatsu LLC - financial performance
  • Table: McKinsey & Company - financial performance
  • Table: PricewaterhouseCoopers LLP - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Management 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 Management Consulting in New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Corporate profit (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Defined Benefit Pension Plan
  • A retirement pension plan in which an employer commits to paying its employee a specific benefit for life beginning at his or her retirement.
  • Defined Contribution Pension Plan
  • A retirement pension plan in which an employer's annual contribution is specified. The value of future benefits at the time of retirement is not specified.
  • Human Resources Consulting
  • The contracting of a consultant for advice on structuring human resource and personnel policies, employee benefits, compensation systems and wage and salary administration.
  • Management Consultant
  • A consultant who provides advice and assistance to businesses and other organizations on various issues, including management.
  • Strategic Consulting
  • The contracting of a consultant to advise on long-term planning with an eye toward minimizing costs and maintaining profit, often in conjunction with the development of new products and services.
  • What Our Customers Say

    Why buy this report?

    The Management Consulting in New Jersey Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    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 Management 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 Management 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 Management 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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