$710.7bn
$XX.Xbn
3m
497k
$XXX.Xbn
Due to low capital requirements, a sizable number of operators are small nonemployers or independent contractors. IT Consulting has experienced a shift in technological change towards cloud computing and data analytics. The constantly changing character of the industry has led larger players to acquire smaller companies and develop new products to remain competitive. Industry revenue has grown at a CAGR of 2.8% to $692.9 billion over the five years to 2023, including a rise of 1.2% in 2023 alone. Profit is expected to remain relatively steady and account for 6.4% of revenue in 2023.
Industry revenue has grown at a CAGR of 2.9 % over the past five years, to reach an estimated $710.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Dell Technologies Inc. | 7,353.9 | 429.3 | 5.8 | |
Tata Consultancy Services Ltd | 7,331.6 | 461.9 | 6.3 | |
Booz Allen Hamilton Inc. | 6,992.0 | 440.5 | 6.3 |
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IT Consulting in the US
Industry revenue is measured across several distinct product and services lines, including Computer systems development, Custom services and Technical support. Computer systems development is the largest segment of the IT Consulting in the US.
Custom services lag but remain the largest segment as small-sized businesses rely on experts to create custom software
The IT Consulting industry includes firms that provide the following services to client companies: writing, testing and supporting custom software; planning and designing integrated hardware, software and communication infrastructure; and on-site management of computer systems and data processing facilities. This industry excludes packaged software publishers and off-site data processing and hosting services.
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NAICS 54151 - IT Consulting in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Shifting technology trends reshape the industry as the world becomes more technology-driven. Businesses across all industries have become reliant on external IT services.
Learn about an industry's products and services, markets and trends in international trade.
Computer systems development has enabled operators to expand services. On premise servers and storage devices increasingly help with managing information.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Regions with a cluster of financial services companies attract the services of the industry. New York being the financial capital of the world has directly benefited from ind...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition is fierce as firms boast their abilities to provide insight and fulfill all of a client’s needs. Competition is based on technical expertise, quality of service, ...
Learn about the performance of the top companies in the industry.
The five largest operators account for just over 5.0% of industry revenue. The sheer size of the industry and the services offered prevents a single company from dominating t...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Intellectual property protects the products that operators create and is crucial to the profitability of the industry. Companies rely on patent, copyright, trademark and trad...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Digital technology solutions that service all market sectors and new technology can improve profit. Clients continue to rely on digital technology solutions to drive business...
Including values and annual change:
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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the IT Consulting in the US industry in United States is $710.7bn in 2024.
There are 497k businesses in the IT Consulting in the US industry in United States, which has grown at a CAGR of 1.6 % between 2019 and 2024.
The market size of the IT Consulting in the US industry in United States has been growing at a CAGR of 2.9 % between 2019 and 2024.
Over the next five years, the IT Consulting in the US industry in United States is expected to grow.
The biggest companies operating in the IT Consulting market in United States are Dell Technologies Inc., Tata Consultancy Services Ltd and Booz Allen Hamilton Inc.
Providing information technology expertise for consumers and Writing, modifying, testing and supporting software to meet the specific needs of one client are part of the IT Consulting in the US industry.
The company holding the most market share in United States is Dell Technologies Inc..
The level of competition is high and increasing in the IT Consulting in the US industry in United States.