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Information Technology Consulting

Industry Outlook

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. The economy has been improving the past few years and the need for information technology consultants is on the rise. IBISWorld reported that the U.S. information technology consulting industry has performed fairly well since 2011, in spite of the still-sluggish economy. Annual growth was at 1.8 percent from 2011 to 2016. The industry’s steady growth is attributed to the strong performance from major markets such as financial services and insurance providers. And the outlook is good through 2021, with demand for information technology consultants increasing due to 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.

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