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IT Consulting

IT Consulting

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Executive summary

The IT Consulting industry comprises companies that help businesses design and implement information technology (IT) systems and infrastructure. Due to the low capital requirements of this industry, a modest number of operators are small nonemployers or independent contractors. Over the five years to 2022, shifting technological trends toward cloud computing and data analytics have caused larger operators to acquire smaller companies and develop new products to stay relevant. For example, Accenture PLC (Accenture) completed its acquisition of Orbium, a technology consultancy for financial services providers, in February 2019. Similarly, International Business Machines Corp. (IBM) completed its largest acquisition in company history in July 2019 with the purchase of open software company Red Hat Inc. for $34.0 billion, signaling the company's rising interest in developing hybrid cloud systems.
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industry major players;

industry key external drivers;

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industry Key Success Factors;

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Reference Wordlist

High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor.
IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $ 0.333 of capital to $ 1 of labor; medium is $ 0.125 to $ 0.333 of capital to $ 1 of labor; low is less than $ 0.125 of capital for every $ 1 of labor.

The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the "real" growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

Colloquial Terminology

The method by which a company combs through a large collection of unorganized data for potential trends and insights.

Computing model in which companies' computer applications are hosted in outside servers accessible via the internet and managed by third-party firms.

The trend toward uniformity in product offerings and price; commonly cited as a cause of declining prices and profitability in computer hardware manufacturing.

The design, development, implementation, support or management of computer-based information systems.

A preintegrated, optimized combination of software and hardware. Such a system increases ease in installing updates and improves performance, scalability and reliability.

To procure goods or services under contract with an outside supplier.


Shifting technology trends have boosted demand for new services and encouraged companies to replace older, more traditional technology. Additionally, strong corporate profit growth and constantly rising investment in computers and software have supported the industry's expansion. Overall, industry revenue is projected to rise at an annualized rate of 3.6% to $623.1 billion over the five years to 2022, on the heels of a relatively steady increase in demand for industry services. Even as the COVID-19 (coronavirus) pandemic created significant disruptions, the industry saw substantial growth as more economic activities moved online, with revenue forecast to rise 4.8% in 2022 even as the pandemic gradually subsides throughout the United States.

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