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By: IBISWorld Analyst, Michelle Hovanetz
Strategic Questions for Choosing the Right Supplier
The management consulting market has been booming in recent years, generating $252.8 billion in 2016, according to IBISWorld estimates. Management consulting is used across all industries to aid clients in navigating and solving complex business issues. Consultants aid buyers
in all areas of business, but they are most commonly brought on to restructure companies, adjust or create business models, streamline operations and develop and grow product and service offerings.
Given management consulting’s widespread popularity, the number of providers has been consistently rising in recent years. IBISWorld estimates that 115,000 suppliers currently provide management consulting services in the United States; the market is highly fragmented among large diversified consultancies, boutique agencies and individual consultants. The large number of suppliers operating in the market has resulted in buyers often needing assistance to find the best vendor to suit their needs. Below are key questions that IBISWorld recommends buyers ask when selecting a management consulting provider.