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Management and Strategy Consulting

Industry Outlook

The coronavirus pandemic had a substantial impact on the management and strategy consulting industry in 2020. Revenue was expected to drop in the management consulting industry by nearly 8 percent in that year alone, according to the research group IBISWorld. In 2021, the rollout of the COVID-19 vaccine was expected to rebuild the economy, and with businesses reopening, demand is expected to resume growing for management and strategy consulting services. Industry revenue growth will accelerate through 2026, due to the projected expansion of business budgets, which will enable companies to increase their spending on management and strategy consulting services. As of January 2021, there were approximately 865,055 management consulting businesses, with nearly 1.7 million employees, in the U.S.

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