Increasing business profits to stimulate demand for management consulting services

Post-pandemic uncertainty to support short-term demand

CLEVELAND, August 19, 2022 /PRNewswire/ — Management consulting services revenue is forecast to advance 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 service providers are expected to benefit from gains in non-residential fixed investment, driven in turn by continued growth in consumer spending and rising after-tax corporate profits. Companies will continue to use these profits to invest in new projects, which will stimulate demand for consultancy to advise on these projects and improve market outcomes. Clients will also be incentivized to spend on consulting services due to ongoing challenges and opportunities such as cybersecurity, increased regulation, data privacy, the advent of Internet-connected manufacturing machinery from things (IoT), big data, artificial intelligence and supply chain challenges. . However, faster increases will be constrained by competition for internal corporate resources, as company officials face the choice of hiring consultants or using company staff.

Management consulting services revenue is expected to grow 4.0% in 2022. Businesses trying to cope with and predict the ongoing repercussions of the COVID-19 pandemic, such as changes in labor relations and government regulations, as well as the ongoing realignment of international relationships that disrupt supply chains and consumer markets, will fuel demand for consulting services.

These and other key ideas are shown in Management consulting services: United States. This report forecasts US management consulting services revenue for 2022 and 2026 in nominal US dollars. Total revenue is segmented by service 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 income, such as non-consulting implementation services

To illustrate historical trends, total revenue and different segments are provided in annual series from 2011 to 2021. Firms, establishments, and employer employment are provided in annual series from 2009 to 2019.

This report represents employer and non-employer income. With the exception of actuarial consulting services, the discrete 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 on the report is available 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 more than 20 new or updated Freedonia Focus reports, offering fresh and unbiased analysis on a wide variety of markets and industries. Published in 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 from Freedonia Focus Reports or MarketResearch.com.

The analysis aims to guide the busy reader through relevant 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 perspectives in the five-year forecasts
  • a 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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