The industry is providing more digital and analytical tools, so that firms can better understand consumer purchases.
Melbourne, Australia (PRWEB) February 15, 2014
Over the past five years, interest in the Management Consultants industry in Australia has been renewed. According to IBISWorld industry analyst Sebastian Chia, “industry revenue declined in 2009-10 due to drastic cost-cutting methods by businesses in the wake of the global financial crisis, but rebounded as firms used management consultants to introduce new business processes and improve operating efficiencies.” The industry has transitioned to provide more digital services and analytical tools, so that firms can better understand consumer purchases. New players have entered the industry, as profit margins have remained high. Larger firms, such as Accenture, continue a strategy of acquisition to increase their market shares and expand operations. Industry revenue is forecast to grow by an annualised 1.1% over the five years through 2013-14. Revenue is forecast to grow 2.7% in 2013-14 to reach $7.8 billion.
Enterprises are estimated to grow by 1.7% annualised over the five years through 2013-14, while establishments are estimated to grow by an annualised 1.6%. “New players have entered the industry and are expected to continue to do so as industry profit margins rebound following weak demand during the global financial crisis,” says Chia. The industry exhibits a low level of market share concentration. Major players include Accenture Australia Holdings Pty Ltd, PricewaterhouseCoopers, Deloitte Touche Tohmatsu and KPMG.
Over the next five years, the industry is set to continue growing. Business conditions are expected to improve, as low interest rates and rising business spending translate into greater demand for Management Consultants industry services. Firms that are still seeking cost-cutting measures and greater operating efficiencies will continue to use industry services. Digital services will become increasingly popular, with the proliferation of online services representing an area of growth that industry operators can assist with. Growth in the Asia-Pacific region and in new sustainability programs will present opportunities for management consultant firms.
For more information, visit IBISWorld’s Management Consultants report in Australia industry page.
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IBISWorld industry Report Key Topics
This industry provides advice and assistance to businesses and other organisations on management issues, such as strategic and organisational planning, financial planning and budgeting, marketing objectives and human resource policies. Computer consultancy and information technology services, as well as accounting services, form their own industries.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.