State of the Industry: Professional Services

Published by: In-Stat

Published: Jun. 29, 2004 - 35 Pages

Table of Contents

Executive Summary

Market and Industry Trends

Overview of Market Trends

Overview of Technology Trends

Key Trends: Wireless and Web…

Key Applications…

Recommendations: Addressing Opportunities…

Near-term Opportunities

Methodology

Forecasting Techniques

Definitions

Structured Research Sources

IT Purchasing, 2003

US Census Bureau

US Bureau of Labor Statistics

Bureau of Economic Analysis

Department of Commerce

Occupational Safety & Health Administration

Industry Trends

Professional Services Industry Demographics

Number of Firms

Number of Employees

Perceptions…

Perceptions of Operating Performance

Demographics by Major Group

Firms

Employment

Segmentation of Firms by Major Group

Segmentation of Employees by Major Group

Business Services

Definition

Demographics

Industry Trends

Business Services in the US Professional Services Market

Legal Services

Definition

Demographics

Industry Trends

Legal Services in the US Professional Services Market

Engineering and Management Services

Definition

Demographics

Industry Trends

Engineering and Management Services in the US Professional Services Market

Conclusion

List of Tables

Table 1. Number of Firms - Professional Services Industry, 2003-2008

Table 2. Number of Employees (EMP) - Professional Services Industry, 2003-2008

Table 3. Number of Firms and Employees by Major Group - Professional Services Industry, 2004

Table 4. Segmentation of Firms by Major Group and Size of Business - Professional Services Industry, 2004

Table 5. Segmentation of Employees by Major Group and Size of Business - Professional Services Industry, 2004

Table 6. Number of Business Services Firms and Employees - US Professional Services Market, 2004

Table 7. Number of Legal Services Firms and Employees - US Professional Services Market, 2004

Table 8. Number of Engineering and Management Services Firms and Employees - US Professional Services Market, 2004

List of Figures

Figure 1. Number of Firms and Employees (In Millions) - Professional Services, 2003-2008 1

Figure 2. Perceptions of the US Economy (Unweighted) - Professional Services Industry, 2003 15

Figure 3. Perceptions of Operating/Financial Performance (Unweighted) - Professional Services Industry, 2003 16

Figure 4. Number of Firms (In Thousands): Business Services - US Professional Services Market, 2002-2008 20

Figure 5. Number of Employees (In Millions): Business Services - US Professional Services Market, 2002-2008 21

Figure 6. Number of Firms: Legal Services (In Thousands) - US Professional Services Market, 2002-2008 23

Figure 7. Number of Employees (In Millions): Legal Services - US Professional Services Market, 2002-2008 24

Figure 8. Number of Firms (In Thousands): Engineering and Management Services - US Professional Services Market, 2002-2008 26

Figure 9. Number of Employees (In Millions): Engineering and Management Services - US Professional Services Market, 2002-2008

Abstract

This report takes a deep dive into the demographics of the professional services industry. This vertical includes market size, number of firms and employees for the total market, as well as the business services, legal services, and engineering & consulting services subsegments. Other details include information on market trends, technology trends, applications, and primary opportunities.

As the past several years have proved challenging, the professional services vertical remains optimistic about this year. Business is improving, projects are proceeding, and prospects are hopeful. The professional services vertical, including engineering, consulting, legal services, and business services, is bound for a slow recovery along with the economy. This vertical is unique to the US business industry because of its mere size and makeup. This vertical consists primarily of home offices and small business offices located throughout the US. Employees are widely remote and many work out of their own home. Because of this, wireless and remote access solutions, as well as project management tools, are major areas of investment and priority.

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