Information Technology Consulting

The state of the economy affects companies’ spending on consulting services. During the economic recession in the late 2000s, many companies tightened their budgets and held off on information technology upgrades and replacements, thus scaling back on IT consulting services. By the late 2010s, the economy had improved and the need for information technology consultants increased. IBISWorld reported that the U.S. information technology consulting industry performed well during the second half of the 2010s. Annual growth was at 4.2 percent from 2014 to 2019. The industry’s steady growth has benefited from a growing focus on data analytics and cloud computing. During the early 2020s, demand for information technology consultants will benefit from increasing mergers and acquisitions in other industries. As more companies consolidate, information technology consultants will be needed to help with the integration of accounting, information storage, and other technology systems.