Help wanted: Improved economic conditions will boost consulting demand

Over the past five years, the Management Consulting industry in New York has been successful as stronger corporate profitability and increasing business expenditure resulted in higher demand for advisory services. In recent years, demand for this industry has come from a number of different sectors and services. Demand was strong from financial institutions and professional firms, in addition to healthcare companies. Additionally, the ongoing transition toward digital technology has provided new opportunities for operators. Over the next five years, the industry is expected to grow. Information technology will continue to be a key growth area for firms, while other sectors, such as healthcare, will also provide new business opportunities...read more.

Industry Statistics & Market Size
Revenue
$19bn
Annual Growth 12-17
2.7%
Forecast Growth 17-22
Profit
Employment
114,523
Businesses
55,522
What Our Customers Say

Industry Threats & Opportunities

  • Digital technology has provided new opportunities for operators to assist businesses
  • Growth areas have come in the form of healthcare and financial service sector clients
  • Investment in life sciences and healthcare will help drive growth for consultants
  • Industry Report - Industry Locations Chapter

    Establishments in the Management Consulting industry in New York are heavily concentrated in New York City and the surrounding areas, such as Long Island and the Hudson Valley region. These areas are the most heavily populated and also are in the closest proximity to commerce centers, like Manhattan and Brooklyn. New York City is known as the financial capital of the United States and it stands to reason that consultants would locate close to prospective clients. Additionally, New York City is home to many of the industry’s largest players. Deloitte, McKinsey and Company and EY are headquartered out of New York City, and all of the major companies operating in this industry have offices in the area so that they can remain close to high-value clients that are also located there. A h...purchase to read more.

    Additional Insights for the Management Consulting in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Management Consulting in New York 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 Consumer Spending in New York in the Management Consulting in New York industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What is the Management Consulting in New York 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 and implementation
  • Marketing and sales
  • Human resources
  • Financial management
  • Process and operation
  • Other consulting
  • 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
  • Consumer Spending in New York
  • Number of Businesses in New York
  • Government consumption and investment

  • Current Performance
  • Industry structure
  • Cyclical and countercyclical demand
  • Business opportunities
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand drivers
  • Continued uncertainty
  • Table: Management Consulting in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Management Consulting in New York Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Electric Power Transmission
  • Manufacturing
  • Commercial Banking
  • Hospitals

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

  • Products & Services
  • Corporate strategy and implementation
  • Marketing and sales
  • Human resources
  • Financial management
  • Other consulting
  • Process and operation
  • Chart: Management Consulting in New York Industry Products and Services Segmentation

  • Major Markets
  • Financial service companies
  • Government organizations
  • Consumer products companies
  • Manufacturers
  • Technology and media companies
  • Life science and healthcare companies
  • Energy and utilities companies
  • Individuals and nonprofits
  • Chart: Major Market Segmentation for the Management Consulting in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesRent and utilitiesDepreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Management Consulting in New York

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Management Consulting in New York Industry

  • Accenture PLCDeloitte Touche Tohmatsu LimitedMcKinsey & CompanyPricewaterhouseCoopers
  • Table: Accenture PLC - financial performance
  • Table: Deloitte Touche Tohmatsu Limited - financial performance
  • Table: McKinsey & Company - financial performance
  • Table: PricewaterhouseCoopers - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Management 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 Management 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
    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.
  • Why buy this report?

    IBISWorld’s industry research report on Management Consulting in New York 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 Management 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 Management 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 Management Consulting in New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear