Consulting industry market research reports analysis and trends.

Consulting industry comprises companies, independent contractors, and organizations that are operating in HR, IT, Strategy, Operations Management and Business advisory services. An increasing number of companies are requiring the services of consulting firms or independent consultants for better services, strategic planning of projects to boost their revenues and competitiveness. IT consulting firmsprovide management solutions for technical projects and they provide help solutions with testing and writing custom software. In addition they provide consultations on issues relating to designing integrated software, hardware and communications infrastructure and managing computer systems. An increasing number of software companies are venturing into the consulting realm to meet the growing demand for design, implementation and management of IT-based business information processes. Consulting firms provide management, scientific and technical consulting services that include specialized services such as environmental, HR, IT, logistics and marketing & advertising. The high demand for consulting firms services is driven by the needs of variety of businesses, nonprofit institutions and government agencies for outside service. The profitability of individual companies depend on the efficiency of their operations and their ability to maintain a steady flow of business. Large firms always have an added advantage of being able to offer broad ranges of services and to take on more complex projects but small firms can compete effectively by specialized strategies. In the consulting industry, the market share is fragmented and it differs from country to country, for example- the US consulting industry’s top 50 companies account for less than 30% of the industry’s revenue. In particular, the management consulting services, including consulting related to strategic planning, marketing and HR account for approximately 80% of revenue, scientific and technical consulting accounts for 12% and environmental consulting accounts for 8% in total.