CLEVELAND, Nov. 29, 2016 /PRNewswire/ -- US firms providing strategic consulting services are projected to see related revenues rise 7.8% yearly through 2020. Consultants are expected to benefit from rising GDP and business fixed investment, which will in turn drive demand for strategic advice as businesses seek to refine expansion plans and other corporate strategies. Despite overall economic projections, the relatively mature state of the markets for many goods and services in the US boosts the need for consultants who can advise executive-level management on growth strategies. These findings are featured in Management Consulting Services: United States, a report recently released by Freedonia Focus Reports, a division of The Freedonia Group.
High Demand No Matter the State of the Economy
Over the 2005-2015 period, this segment of the broader US management consulting industry followed a relatively stable growth trajectory, increasing at an average annual rate of 10%. Notably, strategic consulting saw revenue increases during the Great Recession, reflecting the importance of strategy-related advice in both strong and weak economic environments.
The report forecasts US industry revenues for management consulting services in US dollars to 2020. Total revenues are segmented by service in terms of:
- human resources
- information technology
- operations and supply chain
- other consulting services such as sustainability and resource productivity
- other sources of revenue such as implementation services not combined with consulting.
To illustrate historical trends, total revenue and the various segments are provided in annual series from 2005 to 2015.
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About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study.
SOURCE The Freedonia Group