Management, scientific, and technical consulting services (NAICS 541690) industry trends
The management, scientific, and technical consulting services industry includes firms that provide management consulting services, environmental consulting services as well as other scientific and technical consulting services. Management consulting firms provide advice and assistance to businesses and other organizations on strategic planning, financial planning, marketing, human resource policies, production planning and other management issues. Examples of management consulting firms include actuarial firms, marketing consulting firms and logistics consulting firms. Environmental consulting firms provide advice and assistance to businesses and other organizations on the control of environmental contamination from pollutants, toxic substances and hazardous materials. Environmental consulting firms identify problems and evaluate risks to recommend solutions. Examples of environmental consulting firms include sanitation and on site remediation consulting firms.
The Census Bureau’s most recent data indicates that there are approximately 137,063 firms within this industry. The majority of firms within this industry are management consulting firms.
According to Sageworks’ industry data, the industry’s net profit margin during the last 12 months was 10.10 percent. During this time, the average gross profit margin was 65.74 percent.
The graph below shows business statistics for the average company in the management, scientific, and technical consulting services industry.