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Article: The big picture on Consulting
According to a study by the market intelligence firm, IDC, the global consulting market is expected to increase from nearly $48 billion in 2004 to $57.5 billion by 2009, at a five-year compound annual growth rate of 3.7%.
The study found that, in 2004, overall spending on consulting fluctuated between a flat trend and a slight increase. But the market had areas of growth, including emerging technologies, regulatory compliance, infrastructure, and IT.
Although consulting spending is fairly stable, the number of consulting projects signed and delivered is increasing, which suggests a trend towards smaller projects and more aggressively priced services. From a regional perspective, the Americas represent the largest market for business consulting services, while Europe, the Middle East, and Africa (EMEA) host the fastest-growing IT and business consulting opportunities.
By 2007, the EMEA region is expected to surpass the Americas in spending on IT consulting services, though the Americas will experience significantly higher spending on business consulting services. August 2, 2005