Business Analysis, Market Size and Industry Video

Consulting OVERVIEW


     Global consulting industry revenues (including HR, IT, strategy, operations, management and business advisory services) will be about $488 billion in 2017, according to Plunkett Research estimates.
     This represents reasonable growth from $470 billion during the previous year.
    In the U.S., consulting of all types, including management, scientific and technical, generated $254.8 billion during 2016, up from $242.1 billion the previous year.
     Accounting and related services (such as tax return preparation) generated an additional $171.2 billion in 2016, up from about $156.0 billion during 2015, according to the U.S.
    Bureau of the Census.
    In recent years, corporate profits in general have grown dramatically, meaning that executives are reasonably willing to authorize new consulting projects, as long as they see the potential for a good return on the cost.
     For example, India's leading consultancies have recently enjoyed substantial growth in employee count and revenues, as have most of the global consulting firms based in the U.S.
    and EU.
    While corporate profits have been growing, government budgets in the U.S.
    and much of Europe have been under tremendous pressure at the national, state and local levels.
     While recent years have seen a general rebound in state and local tax collections, sharp increases in government employee pension and health care costs are having a devastating effect on finances.
     Spending and debt have been called in question, and in some cases curtailed.

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