Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Global Management Consultants

Global management consultants market: $403.4 billion industry by 2018


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2014-02-17 20:17:02 - Global Management Consultants - a new market research report on companiesandmarkets.com

After years of strong performance, the Global Management Consultants market has fallen upon hard times. From 2003 to 2006, year-on-year revenue growth was particularly strong. However, in 2009, the situation began to deteriorate as the economies of the United States, Europe and Japan all slid into recession, causing companies to defer or cancel discretionary expenditure, including on management consultants´ services. As a result, industry revenue contracted 2.6% in 2009 and fell another 3.5% in 2010.

However, these moderate declines indicate that management consultants have been somewhat insulated from the full effects of the global economic downturn. Asia´s rise in the global economy has given management consulting services a large boost via China and India. This growth has helped offset weaker growth

 

 

from the developed nations that dominate the industry. Consequently, IBISWorld estimates that global industry revenue is growing at a 0.4% average annual rate from 2008 to 2013.

The industry also benefits from some countercyclical demand for services. In good times, companies invest heavily in profit-maximizing activities and rely on consultants to ensure they develop effective strategies to do so. In a downturn, many companies still require consulting advice to mitigate their losses, which creates a base level of demand that the industry can rely on when times are tough. Global industry revenue is expected to increase 4.3% to about $334.7 billion in 2013 due to economic growth in China and emerging economies, along with a slow recovery in developed regions. However, there is still significant uncertainty regarding developed economies´ recovery. Recovery in the United States and Europe is anticipated to be gradual and prolonged, and this will also hamper revenue and profit for management consultants in the near term.

When the global economy does eventually emerge from its present difficulties, management consultants will experience renewed revenue growth and rising profitability. Industry revenue is expected to grow at a 3.8% annualized rate to about $403.4 billion in the five years to 2018, exceeding expected global GDP growth. This trend is unlikely to slow down, as sustained growth in Asian markets will continue to encourage consulting firms to establish themselves there, particularly in India.

Click for report details: www.companiesandmarkets.com/Market/Business-Services/Market-Rese ..

Browse all Business Services Market Research Reports www.companiesandmarkets.com/Market/Business-Services/Market-Rese ..

Browse all Business Services Company Profile Reports www.companiesandmarkets.com/Market/Business-Services/Company-Pro ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com