Corporate profit is expected to help expand business budgets, enabling companies to heighten spending on consulting services, thus driving industry revenue to over $280 billion over the next five years.
Additionally, companies are expected to increase labor forces and expand investment in new facilities and operations. Investment in new capabilities will likely boost demand for process and operations management consulting, corporate strategy consulting and organizational design consulting.
Furthermore, rapid IT developments will likely continue to be instrumental in developing new strategies and designs as well as understanding an evolving domestic market. Private sector investment in IT is expected to boom and management consultants will likely pursue more solutions that incorporate computer systems. Moreover, major investment in life sciences and healthcare over the next five years will likely help drive growth for consultants that assist in merger and acquisition activity.
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