Bright future: Improving economic conditions will continue to boost industry performance

The Psychic Services industry has grown steadily over the five years to 2015 thanks to the recovering economy and growing acceptance of industry services among consumers. Following a dip during the recession, rising disposable income levels have spurred demand for discretionary services like psychic readings. In the coming years, improving economic conditions will continue to boost industry performance, as rising disposable income bolsters average customer spending on psychic services. Increased citywide regulations will likely accelerate during the next five years, which will result in slight industry consolidation and slow industry growth...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 11-16
2.4%
Forecast Growth 16-21
Profit
Employment
86,334
Businesses
83,380
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • While industry services have existed for centuries, consumer acceptance has grown over the past few decades
  • Employment generally mirrors enterprise and establishment growth
  • Consumers typically seek psychic services for advice and life guidance
  • Industry Report - Industry Analysis Chapter

    The Psychic Services industry is currently valued at an estimated $2.1 billion. Psychic services encompass a broad array of metaphysical services, including palm reading, astrology, aura readings, cartomancy and mediumship. Over the five years to 2016, revenue for the Psychic Services industry is anticipated to rise at an annualized 2.4%. The Psychic Services industry was one of the few discretionary industries that weathered the economic recession with minimal declines. Rising unemployment and greater personal financial concerns spurred many consumers to turn to psychic services for pressing financial and career advice. Following a slight drop, revenue has returned to moderate, long-term growth over the five years to 2016. Gro...purchase to read more.

    Additional Insights for the Psychic Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Psychic Services Industry are

  • Access to niche markets
  • Having a good reputation
  • Easy access for clients
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Number of adults aged 20 to 64 in the Psychic Services industry impact industry performance..

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    What's in this report

    What is the Psychic Services Industry?

    The Psychic Services industry includes establishments that offer psychic and fortune-telling services. Industry operators typically provide services in the areas of astrology, aura reading, mediumship, tarot card reading and palmistry, among other metaphysical services.

    Industry Products
  • Palmistry
  • Cartomancy
  • Mediumship
  • Aura reading
  • Astrology
  • Industry Activities
  • Palmistry
  • Cartomancy
  • Mediumship
  • Aura reading
  • Astrology
  • Lithomancy
  • Numerology
  • Psychometry
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Number of adults aged 20 to 64
  • Demand from bars and nightclubs
  • Labor force participation rate of women

  • Current Performance
  • Conditions and competition
  • Recessionary aftermath
  • Increasing regulations
  • Chart: Revenue Growth

  • Industry Outlook
  • Industry expansion
  • Millennials and media
  • Table: Psychic Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Psychic Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Magazine & Periodical Publishing
  • Amusement Parks
  • Bars & Nightclubs
  • Consumers

  • Key Selling Industries
  • Commercial Leasing
  • Consumer Electronics Stores
  • E-Commerce & Online Auctions
  • Small Specialty Retail Stores

  • Products & Services
  • Palmistry
  • Cartomancy
  • Mediumship
  • Aura reading
  • Astrology
  • Other
  • Chart: Psychic Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers 30 to 49 years old
  • Consumers 50 to 64 years old
  • Consumers 65 years old and up
  • Consumers 18 to 29 years old
  • Chart: Major Market Segmentation for the Psychic Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Rent and Utilities
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Psychic Services

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Psychic Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Psychic Services 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 Psychic Services Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Consumer Confidence Index (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Clairvoyance
  • Having the supposed power to see objects or events that cannot be perceived by the senses.
  • Extrasensory Perception (Esp)
  • The claimed reception of information not gained through the recognized physical senses, but sensed with the mind.
  • Short Message Service (Sms)
  • Message service that sends text between cell phones.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Psychic Services is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

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

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