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

The IT Consulting industry in New York has grown over the past five years as industry firms have captured a rising level of demand in an increasingly technology-reliant business space. Shifting technology trends boosted demand for new services and encouraged companies to replace older, more traditional technology. Also, growth in corporate profit over the past five years and a constantly rising investment in computers and software has helped drive industry revenue growth. As the economy strengthens, corporate profit will continue to rise and support investment in computers and software. Growth in demand from the finance and insurance, which is one of the largest markets for industry operators, is anticipated to accelerate and further benefit the industry...read more.

Industry Statistics & Market Size
Revenue
$22bn
Annual Growth 12-17
0.4%
Forecast Growth 17-22
Profit
Employment
125,939
Businesses
31,501
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Industry Threats & Opportunities

  • Improving business sentiment and corporate profit levels will further drive industry performance
  • Industry growth has been stifled by slow growth in US corporate profit
  • Growth in the banking and financial services sector is projected to boost revenue for IT consultants
  • Industry Report - Industry Analysis Chapter

    Operators in the IT Consulting industry implement and deploy systems that manage data on behalf of their business clients. Moreover, IT consultants design and modify supporting software to enhance online and telecommunications security systems. The industry also includes a wide range of other IT companies, including IT outsourcing as well as computer equipment and specialist companies that design and build the technology infrastructures used by other industry operators.Due to New York’s center as a global banking and financial services center, IT consulting services in New York generate a high percentage of the country’s industry-relevant revenue. Fur...purchase to read more.

    Additional Insights for the IT Consulting in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the IT Consulting in New York 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 Demand from finance and insurance and Number of Businesses in New York in the IT Consulting in New York industry impact industry performance..

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    What is the IT Consulting in New York Industry?

    The IT Consulting industry in New York 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 application design, development and integration
  • Computer systems design, development and integration
  • IT infrastructure and network design services
  • IT technical support 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
  • Demand from finance and insurance
  • Number of Businesses in New York
  • Private investment in computers and software
  • Corporate profit
  • Government consumption and investment

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: IT Consulting in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - IT Consulting in New York 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, development and integration
  • Other
  • Computer systems design, development and integration
  • IT infrastructure and network design services
  • IT technical support services
  • Chart: IT Consulting in New York Industry Products and Services Segmentation

  • Major Markets
  • Other sectors
  • Financial services
  • Public sector and non-profit organizations
  • Manufacturing and retail sectors
  • Communications and other technical sectors
  • Healthcare sector
  • Chart: Major Market Segmentation for the IT Consulting in New York Industry

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

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the IT Consulting in New York Industry

  • Accenture PLCDell Inc.Hewlett Packard Enterprise CompanyInternational 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 New York 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 York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of Businesses in New York (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.
  • Why buy this report?

    IBISWorld’s industry research report on IT Consulting in New York can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

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

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