Management Consulting in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 54161Revenue
$392.2bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
3m
Businesses
1m
Wages
$XXX.Xbn
Management Consulting in the US industry analysis
Providing varied services to diverse downstream markets with unique needs allows management consultants to weather changing economic conditions. Extreme shocks like the pandemic led to revenue declines, but sometimes clients need consulting services in bad times, which buffers revenue declines and ensures low revenue volatility. Bouncing back from pandemic-era, industry-wide revenue grew at a CAGR of 3.6% to an estimated $392.2 billion over the past five years, including an estimated 1.8% growth rate in 2024 alone.
Trends and Insights
- Product and market diversity significantly boosts performance. Diverse downstream clients and a variety of services ensure steady revenue growth regardless of economic fluctuations.
- Providing corporate strategy services is a strong option. These services face the highest demand among consulting offerings and could be a key driver of business growth and profitability.
- Consulting establishments are located in population centers. As business activity clusters in these areas, consulting firms naturally follow to provide their services more effectively.
- Competition will tighten the overall profit margin. As technology impacts clients' businesses and boosts demand for consulting, firms will need more skilled workers, raising the portion of revenue spent on wages.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.6 % over the past five years, to reach an estimated $392.2bn in 2024.
Trends and Insights
Provision of diverse services for a variety in downstream clients reduces volatility
- Management consulting firms saw low levels of revenue volatility over the past five years, along with steady profit. Diverse service offerings to a range of downstream clients, such as businesses, governments, nonprofits and individuals insulated consultants from volatility, as these clients respond in varying degrees to macroeconomic conditions.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Consulting services are sought after in both positive and challenging economic times
- Anticipated growth in the number of businesses, corporate profit and a positive business sentiment index will spur companies with plump profit to seek consulting services for help in strategy and expansion.
Biggest companies in the Management Consulting in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Deloitte Touche Tohmatsu | 9,677.1 | 1,487.4 | 15.4 | |
DiscoverOrg LLC | 8,866.7 | 1,019.7 | 11.5 | |
Accenture Plc | 8,466.2 | 1,279.5 | 15.1 |
To view the market share and analysis for all 89 top companies in this industry, view purchase options.
Products & Services Segmentation
Management Consulting in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Corporate strategy, Marketing and sales and Organizational design. Corporate strategy is the largest segment of the Management Consulting in the US.
Trends and Insights
Corporate strategy and financial advisory are the bread and butter for consultants
- Corporate strategy consulting services include strategic advisory in the areas of general growth strategy, leadership development, performance improvement, mergers and acquisitions (M&A) and corporate portfolio design.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Accounting Services in the US
- IT Consulting in the US
Complementors
- Tax Preparation Services in the US
- Business Coaching in the US
International industries
- Global Management Consultants
- Management Consulting in Canada
- Management Consulting in Australia
- Consulting Services in New Zealand
- Management Consultants in the UK
Table of Contents
About this industry
Industry definition
Operators in the Management Consulting industry advise businesses, nonprofits, and public-sector agencies in areas such as organizational planning design, human resources policies, practices and planning, corporate strategy, information technology strategy, marketing and sales, financial planning and budgeting, and logistics.
What's included in this industry?
Corporate strategyMarketing and salesOrganizational designProcess and operations managementHuman resources advisoryFinancial advisoryIT strategyCompanies
Deloitte Touche TohmatsuDiscoverOrg LLCAccenture PlcPurchase this report to view all 89 major companies in this industry.
Related Terms
MANAGEMENT CONSULTANTSTRATEGIC CONSULTINGHUMAN RESOURCES CONSULTINGDEFINED BENEFIT PENSION PLANDEFINED CONTRIBUTION PENSION PLANIndustry Code
NAICS 54161 - Management Consulting in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Product and market diversity significantly boosts performance. Diverse downstream clients and a variety of services ensure steady revenue growth regardless of economic fluctu...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Providing corporate strategy services is a strong option. These services face the highest demand among consulting offerings and could be a key driver of business growth and p...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Consulting establishments are located in population centers. As business activity clusters in these areas, consulting firms naturally follow to provide their services more ef...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Competition will tighten the overall profit margin. As technology impacts clients' businesses and boosts demand for consulting, firms will need more skilled workers, raising ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Major companies provide various services beyond management consulting. They'll likely outcompete smaller firms, especially with larger clients, while small consultancies can ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Deloitte Touche Tohmatsu's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of DiscoverOrg LLC's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Accenture Plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 86 additional companies
Detailed analysis
- Description and key data for Deloitte Touche Tohmatsu, and factors influencing its performance in the industry
- Description and key data for DiscoverOrg LLC, and factors influencing its performance in the industry
- Description and key data for Accenture Plc, and factors influencing its performance in the industry
- Description, key data and performance trends for 86 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Minimal barriers to entry spur competition for skilled employees in labor-intensive industries. With no significant obstacles to starting a business, the race for seasoned, h...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Wage costs will continue to impact profit. While technology will enhance service quality, consulting remains labor-intensive, with wage expenses representing the most signifi...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
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:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
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:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
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.
How does IBISWorld forecast its data?
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.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Management Consulting in the US industry in United States in 2024?
The market size of the Management Consulting in the US industry in United States is $392.2bn in 2024.
How many businesses are there in the Management Consulting in the US industry in 2024?
There are 1m businesses in the Management Consulting in the US industry in United States, which has grown at a CAGR of 9.3 % between 2019 and 2024.
Has the Management Consulting in the US industry in United States grown or declined over the past 5 years?
The market size of the Management Consulting in the US industry in United States has been growing at a CAGR of 3.6 % between 2019 and 2024.
What is the forecast growth of the Management Consulting in the US industry in United States over the next 5 years?
Over the next five years, the Management Consulting in the US industry in United States is expected to grow.
What are the biggest companies in the Management Consulting in the US market in United States?
The biggest companies operating in the Management Consulting market in United States are Deloitte Touche Tohmatsu, DiscoverOrg LLC and Accenture Plc
What does the Management Consulting in the US in United States include?
Corporate strategy and Marketing and sales are part of the Management Consulting in the US industry.
Which companies have the highest market share in the Management Consulting in the US in United States?
The company holding the most market share in United States is Deloitte Touche Tohmatsu.
How competitive is the Management Consulting in the US industry in United States?
The level of competition is high and increasing in the Management Consulting in the US industry in United States.
