Management Consulting in the US

Overview

Help wanted: Improved economic conditions will boost consulting demand

The Management Consulting industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Digital technology has provided new opportunities for operators to assist businesses
  • Asset management and private equity companies represent a key market for management consultants
  • Smaller firms continue to enter the industry due to strong profit for successful start-ups

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    Industry Analysis & Industry Trends

    Over the past five years, the Management Consulting industry 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 and healthcare companies have also been a boon to the industry. Additionally, the ongoing transition toward digital technology has provided new opportunities for operators. Over the next five years, the industry is expected to grow with the general US economy. Information technology will continue to be a key growth area for firms, while other sectors, such as healthcare, also provide new business opportunities...

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    Industry Report - Industry Analysis Chapter

    Firms in the Management Consulting industry provide advice and assistance to businesses, organizations and government bodies on organizational planning, financial planning, budgeting and strategic marketing objectives. The industry is reliant on strong economic conditions and high corporate profit, factors that encourage investment in advisory services as businesses expand and attempt to maximize efficiency. When corporate profit rises, businesses often seek out new ways to invest their profit and expand their business. Consultants are often brought in to advise on these endeavors, so operators benefit when corporate profit is rising. However, the industry also can grow when corporate profit falls. A d..

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    Additional Insights for the Management Consulting Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Management Consulting 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 Aggregate private investment in the Management Consulting industry impact industry performance..

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    Industry Products

    What is the Management Consulting 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
    Organizational design
    Process and operations management
    Human resources advisory
    Financial advisory
    IT strategy
    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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Aggregate private investment
  • Number of businesses
  • Government consumption and investment

    • Current Performance
  • Business conditions and demand
  • Clients seek digital opportunities
  • Addressing investment and equity gaps
  • Industry consolidation
  • Chart: Revenue Growth

    • Industry Outlook
  • Table: Management Consulting Industry Revenue Outlook

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

    • Products & Markets
    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
  • Organizational design
  • Process and operations management
  • Financial advisory
  • Human resources advisory
  • IT strategy
  • Chart: Management Consulting Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • Financial services companies
  • Government organizations
  • Consumer products companies
  • Manufacturing companies
  • Technology and media companies
  • Life science and healthcare companies
  • Energy and utilities companies
  • Individuals and non-profit organizations
  • Chart: Major Market Segmentation for the Management Consulting Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent and utilities
  • Depreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Management Consulting

    • Basis of Competition
  • Internal competition
  • External competition

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

    • Industry Globalization
    Major Companies
    Accenture PLCDeloitte Touche TohmatsuMcKinsey & Company
  • Table: Accenture PLC - financial performance
  • Table: Deloitte Touche Tohmatsu - financial performance
  • Table: McKinsey & Company - financial performance

    • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Management Consulting Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

    • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Management Consulting Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Corporate profit (2008-2022)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    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 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
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    This report on Management Consulting:
    • 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 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, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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