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2024 U.S. Industry Statistics & Market Forecast - Management, Scientific, and Technical Consulting Services
Market Size & Industry Statistics
The total U.S. industry market size for Management, Scientific, and Technical 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.
| 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 | ||
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 (%) | |||||
Industry Insights
Major trends affect the Management, Scientific, and Technical Consulting Services industry include:- Increased reliance on digital technologies for consulting delivery
- Growing demand for sustainability and ESG consulting
- Rise of remote work and virtual consultancy services
- Expansion of data analytics and big data services
- Heightened regulatory complexities driving compliance consulting
- Adoption of AI and machine learning tools
- Emphasis on cybersecurity consulting due to increasing data breaches
- Shift towards industry-specific specialization
- Increased competition from freelance consultants and boutique firms
- Pressure on pricing and value demonstration amidst economic uncertainties
- Collaborations and partnerships for expanded service offerings
- Focus on healthcare consulting driven by aging populations and technological advances
Product & Services Breakdown
Research products and services in the Management, Scientific, and Technical Consulting Services industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Construction Management Services |
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Information Technology (It) Technical Consulting Services |
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Business Process Management Services, Including Financial, Human Resources, Supply-Chain, Customer Relations, And Vertical Marke |
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Bookkeeping And Compilation Services |
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General Accounting Services |
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Payroll Accounting Services |
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Custom Application Design And Development Services |
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Computer Systems Design, Development, And Integration Services |
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It Infrastructure And Network Management Services |
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Strategic Management Consulting And Implementation Services |
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Business Strategy And Planning Consulting And Implementation Services |
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Corporate Development And Restructuring Consulting And Implementation Services |
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Other Strategic Management Consulting And Implementation Services |
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Financial Management Consulting And Implementation Services |
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Management Accounting And Controllership Consulting And Implementation Services |
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Other Financial Management Consulting And Implementation Services |
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Marketing Management Consulting And Implementation Services |
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Marketing Strategy And Market Development Consulting And Implementation Services |
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Sales Management And Development Consulting And Implementation Services |
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Other Marketing Management Consulting And Implementation Services |
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Human Resources Management Consulting And Implementation Services |
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Compensation And Benefits Consulting Services |
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Other Human Resources Management Consulting Services |
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Operations And Supply Chain Management Consulting And Implementation Services |
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Integrated Supply Chain And Logistics Management Consulting And Implementation Services |
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Operations Management Consulting And Implementation Services, Excluding Logistics Consulting |
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Actuarial Consulting Services, Excluding Employee Pensions And Other Benefits |
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Scientific/Technical Consulting Services, Excluding Environmental |
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All Other Consulting Services |
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Environmental Assessments |
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Integrated Environmental Assessments |
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Air Assessments |
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Water Assessments |
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Soil Assessments |
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Environmental Audits |
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Integrated Environmental Audits |
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Site Remediation Planning Services |
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Integrated Site Remediation Planning Services |
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Water Remediation Planning Services |
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Soil Remediation Planning Services |
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Evaluation Of Environmental Studies |
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Natural Resource Management Consulting Services |
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Waste Management Consulting Services |
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Hazardous Waste Management Consulting Services |
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Non-Hazardous Waste Management Consulting Services |
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Environmental Policy Development Consulting Services |
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All Other Environmental Consulting/Services |
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Environmental Licensing And Permitting Services |
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Litigation Support Services - Environmental |
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Other Environmental Consulting Services |
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Economic Consulting Services |
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Agricultural, Fisheries, And Biological Consulting Services |
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Energy, Mining, Geological, And Geophysical Consulting Services |
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Safety And Security Consulting Services |
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Occupational Health And Safety Consulting Services |
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Public Safety And Security Consulting Services |
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Other Scientific And Technical Consulting Services |
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Management Consulting Services |
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Other Management Services |
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Resale Of Merchandise |
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All Other Receipts |
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All Other Operating Receipts |
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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.
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 Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| 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 | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Management, Scientific, and Technical Consulting Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry 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, Scientific, and Technical Consulting Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| 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). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Management, Scientific, and Technical Consulting Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry 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. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry 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. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| 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. |
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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.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 16% | Order at top of page |
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| Top Executives | 7% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 7% | |||
| General and Operations Managers | 7% | |||
| 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% | |||
Management, Scientific, and Technical Consulting Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Management, Scientific, and Technical 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, Scientific, and Technical 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, Scientific, and Technical Consulting Services industry. |
Innovation News
- Jun 13, 2024: Mckinsey patents Systems And Methods For Collecting And Analyzing Virtual Data To Find Correlations Between Events
- Jun 13, 2024: Kihomac patents Composite Telescopic Sight And Sight Mount
- Jun 13, 2024: Kymeta patents Active Metasurface Architectures
- Jun 04, 2024: Zengines raises $6 million in funding.
- May 22, 2024: Blueprint Capital Income REIT raises $108 million in funding.
- May 17, 2024: Career Allies raises $20 million in funding.
- Jan 31, 2024: Arrow Clinical Trials trademarks "A" - Medical and scientific research
- Jan 31, 2024: Arrow Clinical Trials trademarks "A ARROW" - Medical and scientific research
- Jan 31, 2024: Arrow Clinical Trials trademarks "ARROW CLINICAL TRIALS" - Medical and scientific research
Recent Federal Contracts for Management, Scientific, and Technical Consulting Services
- Apr 02, 2024: STATISTICAL RESEARCH, INC. (Tucson, AZ) awarded $634,738
- Apr 02, 2024: SCHULER SOLUTIONS, LLC (Alexandria, VA) awarded $1,569,556
- Apr 02, 2024: UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL (Chapel Hill, NC) awarded $391,499
- Apr 02, 2024: TORCHIA, DENNIS (North Bethesda, MD) awarded $117,348
- Apr 02, 2024: PARTNERSHIP FOR PUBLIC SERVICE, INC. (Washington, DC) awarded $684,000
- Apr 02, 2024: LLH & ASSOCIATES LLC (Hampton, VA) awarded $6,081,648
