Growing business profits will drive demand for management consulting services

Post-pandemic uncertainty to support demand in the near term

CLEVELAND, August 19, 2022 /PRNewswire/ — Management consulting revenue is expected to grow 4.9% annually in nominal dollars through 2026, according to Management consulting services: United States, a report recently published by Freedonia Focus Reports. Management consulting providers are expected to benefit from gains in non-residential fixed investment, in turn driven by continued growth in consumer spending and increased after-tax business profits. Companies will continue to use these profits to invest in new projects, which will encourage consulting to advise on these projects and improve market performance. Clients will also be incentivized to spend on consulting services due to ongoing challenges and opportunities such as cybersecurity, increasing regulation, data privacy, the advent of manufacturing machines connected to the Internet of Things (IoT), big data, artificial intelligence and supply chain challenges for supplies. However, faster increases will be limited by competition from internal corporate resources, as company employees are faced with a choice between hiring consultants or using company staff.

Management consulting revenue is expected to grow 4.0% in 2022. Firms trying to cope with and anticipate the ongoing effects of the COVID-19 pandemic, such as changes in labor relations and government regulations, as well as the ongoing realignment of international relations disrupting supply chains and consumer markets will drive demand for consulting services.

These and other key insights are included in Management consulting services: United States. This report forecasts US management consulting services revenue for 2022 and 2026 in nominal US dollars. Total revenues are segmented by services in terms of:

  • strategy
  • marketing
  • information technology (IT)
  • operations and supply chain
  • Human Resources
  • financial
  • actuarial
  • other consulting services such as design, sustainability and resource productivity
  • other sources of revenue such as implementation services that are not combined with consulting

To illustrate historical trends, total revenue and various segments are presented in annual series from 2011 to 2021. Employer firms, businesses, and employment are provided in annual series from 2009 to 2019.

This report presents the earnings of employers and non-employers. With the exception of actuarial consulting services, the individual consulting segments include the provision of advice and its implementation. This report excludes industries such as private equity, portfolio management, investment advisory, professional and management development training, executive search and market research. Also excluded are environmental and other scientific and technical consultancy services (eg agricultural, economic and security consultancy).

More information about the report can be found at:
https://www.freedoniafocusreports.com/Management-Consulting-Services-United-States-FF95037/?progid=91541

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 of a wide variety of markets and industries. Spread across 20-30 pages, the Focus Report’s coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional service and industry reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

The analysis aims to take the busy reader through relevant topics in rapid succession, including:

  • total historical market size and industry production
  • segmentation by products and markets
  • identifying market drivers, restraints and key indicators
  • segment-by-segment outlook in five-year forecasts
  • survey of the supply base
  • suggested resources for further study

Press contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group

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