research
AnythingResearch
Industry Data & Market Research
AnythingResearch

2024 U.S. Industry Statistics & Market Forecast - Management Consulting Services


Market Size & Industry Statistics

The total U.S. industry market size for Management Consulting Services: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


Order at top of page
Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Administrative Management & General Management Consulting Services industry is witnessing several emerging trends with the changing business landscape and technological advances. These trends include:

1. Digital Transformation: The industry is experiencing a rapid shift towards digital transformation as businesses seek to increase efficiency, improve productivity, and reduce costs through automation technologies.

2. Focus on Innovation: Consulting firms are increasingly focusing on helping their clients innovate and develop new products and ideas to stay ahead of the competition.

3. Augmented Reality and Virtual Reality: These technologies are enabling consulting firms to provide new and innovative ways to engage with clients and solve complex problems.

4. Cybersecurity: As businesses become increasingly reliant on technology, cybersecurity has become a key concern, and consulting firms are helping clients to implement effective cybersecurity strategies.

5. Big Data and Analytics: Consulting firms are increasingly leveraging big data and analytics to help clients make better decisions and improve business outcomes.

6. Sustainability: Consulting services are now offering sustainability strategies to help clients build long-term value through responsible and sustainable business practices.

7. Globalization: With the increasing globalization of businesses, international management consulting services are on the rise, providing businesses with local expertise and a global perspective.


Overall, the Administrative Management & General Management Consulting Services industry is fast-paced and evolving, and firms must adapt to stay relevant and competitive.



Product & Services Breakdown

Research products and services in the Management Consulting Services industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Information Technology (It) Technical Consulting Services

Business Process Management Services, Including Financial, Human Resources, Supply-Chain, Customer Relations, And Vertical Marke

General Accounting Services

Custom Application Design And Development Services

Computer Systems Design, Development, And Integration Services

It Infrastructure And Network Management Services

Strategic Management Consulting And Implementation Services

Business Strategy And Planning Consulting And Implementation Services

Corporate Development And Restructuring Consulting And Implementation Services

Other Strategic Management Consulting And Implementation Services

Financial Management Consulting And Implementation Services

Management Accounting And Controllership Consulting And Implementation Services

Other Financial Management Consulting And Implementation Services

Marketing Management Consulting And Implementation Services

Marketing Strategy And Market Development Consulting And Implementation Services

Sales Management And Development Consulting And Implementation Services

Other Marketing Management Consulting And Implementation Services

Human Resources Management Consulting And Implementation Services

Compensation And Benefits Consulting Services

Other Human Resources Management Consulting Services

Operations And Supply Chain Management Consulting And Implementation Services

Integrated Supply Chain And Logistics Management Consulting And Implementation Services

Operations Management Consulting And Implementation Services, Excluding Logistics Consulting

Scientific/Technical Consulting Services, Excluding Environmental

All Other Consulting Services

Other Management Services

Resale Of Merchandise

All Other Receipts

All Other Operating Receipts



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

Order at top of page
Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Management Consulting Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Management Consulting Services industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Management Consulting Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 16%

Order at top of page
Top Executives 7%
Chief Executives0%
General and Operations Managers 7%
General and Operations Managers7%
Business and Financial Operations Occupations 34%
Business Operations Specialists 30%
Management Analysts 12%
Management Analysts 12%
Market Research Analysts and Marketing Specialists 5%
Market Research Analysts and Marketing Specialists 5%
Computer and Mathematical Occupations 10%
Computer Occupations 9%
Sales and Related Occupations 7%
Office and Administrative Support Occupations 15%
Source: Bureau of Labor Statistics


Management Consulting Services Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Management Consulting Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Management Consulting Services industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Management Consulting Services industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Management Consulting Services

  • Feb 27, 2024: PAE GOVERNMENT SERVICES, INC. (Arlington, VA) awarded $643,345
  • Feb 27, 2024: ASSOCIATED VETERANS LLC - QUALITY SOLUTIONS. (Reston, VA) awarded $40,716
  • Feb 27, 2024: POTOMACWAVE CONSULTING, INC. (Alexandria, VA) awarded $36,000
  • Feb 27, 2024: BRILLIENT CORPORATION (Reston, VA) awarded $1,646,498
  • Feb 27, 2024: INNOVA GROUP LLC, THE (Austin, TX) awarded $748,427
  • Feb 27, 2024: MEDICAL SCIENCE & COMPUTING, LLC (Rockville, MD) awarded $182,873