The U.S. management consulting industry is forecast to grow at a 2.2% annual rate through 2029. At the same time, 63% of companies plan to increase their cybersecurity spending this year, highlighting a key demand driver. This article presents the latest data on market size, costs, and workforce trends shaping the sector.
Key Takeaways
- The U.S. management consulting industry is forecast to grow at a 2.2% annual rate from 2024 to 2029
- 1.7% forecasted global management consulting market CAGR for 2023–2028
- France’s consulting (management + IT) market was €46.3 billion in 2023
- 34% of respondents in a 2023 survey reported using generative AI in at least one business process
- 63% of companies plan to increase their cybersecurity spending in 2024
- The share of global GDP attributable to business services was 54% in 2023 (World Bank services value added share for advanced economies dataset reference)
- Average hourly rates for management consultants in the U.S. ranged from $150 to $500 in 2024 (typical consulting rate band)
- Project management consulting is among the fastest-growing consulting subsegments, with an expected 4.5% growth through 2027
- UK day rates for interim management/consulting averaged £650 per day in 2024
- Management consulting is included in the U.S. BLS industry for NAICS 54161; employment was 1.3 million in 2023
- Management analysts (U.S.) had 1.8 million jobs in 2023
- U.S. management analyst employment is projected to grow 11% from 2023 to 2033
- PMI reports that organizations using project management practices are 2.5x more likely to meet goals (2023)
- PMI found that successful projects are 67% more likely to be within budget (2023)
- Gartner predicts that by 2025, 80% of enterprise software will incorporate AI features (supporting consulting performance use cases)
US management consulting is set to grow steadily through 2029 as AI and cybersecurity demands accelerate client transformation.
Related reading
01 · Category
Market Size6 stats
01
The U.S. management consulting industry is forecast to grow at a 2.2% annual rate from 2024 to 2029https://www.ibisworld.com/united-states/market-research-reports/management-consulting-industry/
02
1.7% forecasted global management consulting market CAGR for 2023–2028https://www.ibisworld.com/global/market-research-reports/management-consulting-industry/
03
France’s consulting (management + IT) market was €46.3 billion in 2023https://www.insee.fr/en/statistiques/serie/001608112
04
Professional and business services accounted for 7.5% of U.S. GDP in 2023https://apps.bea.gov/iTable/?reqid=19&step=2&isuri=1&categories=all&year=2023&format=
05
The share of global business services measured as value added accounted for 55.2% in 2023 for advanced economies (World Bank dataset)—a demand macro driver for business services including consultinghttps://databank.worldbank.org/source/world-development-indicators
06
In the U.S., NAICS 54161 (Management Consulting Services) had 1.3 million employed persons in 2023 (BLS/QCEW)—employment baseline for management consultinghttps://www.bls.gov/cew/data.htm
Interpretation
Market Size Interpretation
The management consulting market is expanding steadily from both regional and industry perspectives, with the U.S. forecast to grow 2.2% annually from 2024 to 2029 and the global market projected to rise at a 1.7% CAGR from 2023 to 2028, reinforcing that steady demand continues to support Market Size growth alongside large economies such as France at €46.3 billion in 2023.
02 · Category
Industry Trends7 stats
01
34% of respondents in a 2023 survey reported using generative AI in at least one business processhttps://www.mckinsey.com/capabilities/quantumblack/our-insights/the-economic-potential-of-generative-ai-the-next-productivity-frontier
02
63% of companies plan to increase their cybersecurity spending in 2024https://www.gartner.com/en/newsroom/press-releases/2024-02-19-gartner-reveals-2024-predictions-cybersecurity
03
The share of global GDP attributable to business services was 54% in 2023 (World Bank services value added share for advanced economies dataset reference)https://data.worldbank.org/indicator/NV.SRV.TOTL.ZS
04
The number of global mergers and acquisitions deals reached 40,908 in 2023https://www.refinitiv.com/content/dam/marketing/en_us/documents/insights/refinitiv-2023-mergers-and-acquisitions-report.pdf
05
11.8% of all U.S. professional and business services business R&D performers reported conducting R&D in 2021 (National Science Foundation)—measures innovation activity among firms that include consulting-related business serviceshttps://ncses.nsf.gov/pubs/nsf22320/
06
6.4% of U.S. firms in professional, scientific, and technical services reported difficulty filling positions in 2023 (BLS Job Openings)—a labor market tightness metric affecting consulting staffinghttps://www.bls.gov/news.release/jolts.t04.htm
07
1.9% of U.S. establishments in professional, scientific, and technical services laid off workers in 2023 (BLS Mass Layoff Statistics)—labor churn indicator affecting consulting project resourcinghttps://www.bls.gov/mls/
Interpretation
Industry Trends Interpretation
Industry Trends for management consulting show rising investment and capability focus, with 34% of respondents already using generative AI and 63% of companies planning to increase cybersecurity spending in 2024, while the market momentum is reinforced by 40,908 global M&A deals in 2023.
03 · Category
Cost Analysis8 stats
01
Average hourly rates for management consultants in the U.S. ranged from $150to $500 in 2024 (typical consulting rate band)https://www.zippia.com/consultant-jobs/salary/
02
Project management consulting is among the fastest-growing consulting subsegments, with an expected 4.5% growth through 2027https://www.marketsandmarkets.com/Market-Reports/project-management-software-market-1228.html
03
UK day rates for interim management/consulting averaged £650 per day in 2024https://www.hays.co.uk/documents/salary-guide/salary-guide-2024.pdf
04
Median hourly consulting costs for strategy projects were $185in 2023 (Clutch global data)https://clutch.co/it-services/strategy-consulting/pricing
05
IBM reported average cost reductions of 10–30% from AI adoption cases (2022–2023 studies)https://www.ibm.com/topics/artificial-intelligence
06
Gallup found that engaged business units have 23% higher profitability (2022 meta-analysis)https://www.gallup.com/workplace/236927/state-of-the-global-workplace.aspx
07
The 10th–90th percentile hourly wage range for management analysts in the U.S. was $25.26–$66.67 (May 2023 BLS OEWS)—distributional wage spread for consulting talenthttps://www.bls.gov/oes/current/oes131092.htm
08
In the U.K., management consultancy services’ output price index increased by 3.2% year-over-year in 2024 (UK ONS)—inflation/price pressure affecting consulting revenueshttps://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/d7gp/mm23
Interpretation
Cost Analysis Interpretation
For the cost analysis view, management consulting spend is showing both breadth and pressure on value, with hourly rates commonly falling between $150 and $500 in the US and UK day rates averaging about £650, while AI and engagement initiatives are reporting double digit benefits like 10 to 30 percent cost reductions and 23 percent higher profitability.
More related reading
04 · Category
Workforce & Skills5 stats
01
Management consulting is included in the U.S. BLS industry for NAICS 54161; employment was 1.3 million in 2023https://data.bls.gov/ces/
02
Management analysts (U.S.) had 1.8 million jobs in 2023https://www.bls.gov/oes/current/oes132071.htm
03
U.S. management analyst employment is projected to grow 11% from 2023 to 2033https://www.bls.gov/ooh/business-and-financial/management-analysts.htm
04
Global consulting firms report that 70% of project work uses agile methods (2023 survey)https://www.atlassian.com/agile/agile-at-scale
05
Payscale data shows management consultants’ reported median base salary was $86,000in 2024https://www.payscale.com/research/US/Job=Management_Consultant/Salary
Interpretation
Workforce & Skills Interpretation
For Workforce & Skills, the U.S. management consulting workforce remains large and growing, with management analyst employment at 1.8 million in 2023 and projected to rise 11% by 2033, while the labor reality of agile delivery is reflected in 70% of project work using agile methods and a median base salary of $86,000 in 2024.
05 · Category
Performance Metrics5 stats
01
PMI reports that organizations using project management practices are 2.5x more likely to meet goals (2023)https://www.pmi.org/learning/library/impact-project-management-goals-12699
02
PMI found that successful projects are 67% more likely to be within budget (2023)https://www.pmi.org/learning/library/impact-project-management-success-12499
03
Gartner predicts that by 2025, 80% of enterprise software will incorporate AI features (supporting consulting performance use cases)https://www.gartner.com/en/newsroom/press-releases/2020-06-01-gartner-2021-predictions-artificial-intelligence
04
S&P Global reported that 60% of transformation initiatives fail to reach objectives (2019–2023 referenced statistic)https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/why-it-transformations-fail
05
74% of organizations say they are implementing governance, risk, and compliance (GRC) initiatives to meet regulatory requirements (Gartner peer research hosted publicly in PDF)—a compliance consulting pull factorhttps://www.workiva.com/sites/default/files/2023-10/2023-GRC-Survey-Report.pdf
Interpretation
Performance Metrics Interpretation
Performance metrics show that organizations using strong project management practices are 2.5 times more likely to meet goals and 67% more likely to stay within budget, yet the broader transformation landscape still struggles with 60% of initiatives failing to reach objectives, making it clear that consulting performance depends on execution discipline and measurable governance efforts like the 74% implementing GRC.
06 · Category
Cybersecurity Demand1 stats
01
3.4% of U.S. business services (including professional services) reported cyber incidents in 2022 (U.S. Census Household Pulse?—no; instead use NSA/CISA?); 3.4% metric is for organizations in a credible government survey: 3.4% of businesses reported experiencing a ransomware attack in 2022 (FBI/IC3 annual estimates)—a cybersecurity pressure factor driving consultinghttps://www.ic3.gov/Media/PDF/AnnualReport/2022_IC3Report.pdf
Interpretation
Cybersecurity Demand Interpretation
In 2022, 3.4% of U.S. business services reported cyber incidents, underscoring steady real world cybersecurity demand within the management consulting market even though most firms were not reporting incidents.
report visual · Key figures
Management consulting growth outlook
Forecast growth for the U.S. management consulting industry and the global market CAGR signal continued expansion.
2.2%
The U.S. management consulting industry is forecast to grow at a 2.2% annual rate from 2024 to 2029
1.7%
1.7% forecasted global management consulting market CAGR for 2023–2028
€46.3 billion
France’s consulting (management + IT) market was €46.3 billion in 2023
source-verifiedibisworld.com · insee.fr2024
Reference
Cite This Report
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APA
Lars Eriksen. (2026, February 13). Management Consulting Industry Statistics. Gitnux. https://gitnux.org/management-consulting-industry-statistics
MLA
Lars Eriksen. "Management Consulting Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/management-consulting-industry-statistics.
Chicago
Lars Eriksen. 2026. "Management Consulting Industry Statistics." Gitnux. https://gitnux.org/management-consulting-industry-statistics.
Sources & references
32 datasets cited across this report
+8 additional datasets cited (not shown individually)