Save your energy: Burgeoning corporate profit will likely boost industry revenue

Operators in the Scientific and Economic Consulting industry in Canada provide guidance and advisory services to businesses, government bodies and nonprofit organizations on scientific and technical issues. Industry services are highly diverse as operators assist a variety of markets. Therefore, industry services range from agricultural, geological and geophysical consulting services to risk management and business expansion plans. Agriculture, energy and mining companies are one of the largest customer segments for the Scientific and Economic Consulting industry in Canada. Over the five years to 2018, the mining industry experienced volatile growth due to decreasing commodity prices, which influence production levels, revenue and profit...read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 13-18
0.8%
Forecast Growth 18-23
Profit
Employment
17,825
Businesses
25,834
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Agriculture, energy and mining companies are one of the largest customer segments for the industry
  • Mining companies have undertaken cost-cutting measures
  • The public sector is expected to grow over the next five years
  • Industry Report - Starting a New Business Chapter

    The Scientific and Economic Consulting industry in Canada is characterized by low barriers to entry. Start-up costs for new businesses are minimal, enabling a large number of new businesses to enter the industry when profit margins are high. In addition, firms are not required to be a large company to be competitive or successful in the industry and are able to operate as sole-proprietors or partnerships. The industry is highly reliant on the provision of skilled labour. Therefore, industry operators are typically required to attain a high level of education and experience in industry markets to understand challenges. Although barriers to entry are low in the industry, there are several barriers to success in the industry...purchase to read more.

    Additional Insights for the Scientific & Economic Consulting Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Scientific & Economic Consulting Industry are

  • Access to highly skilled workforce
  • Ability to compete on tender
  • Effective cost controls
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Government expenditure and investment in the Scientific & Economic Consulting industry impact industry performance..

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    What's in this report

    What is the Scientific & Economic Consulting Industry?

    This industry provides advice and assistance to businesses and other organizations on scientific and technical issues. The industry includes a range of specialist consulting activities, primarily in the areas of economic, energy and mineral, security and agricultural analysis. This industry excludes establishments that generate their revenue primarily from environmental consulting and remediation, geophysical surveying and mapping or oil and gas exploration.

    Industry Products
  • Economic consulting
  • Agriculture, energy and commodities consulting
  • Occupational health, safety and security consulting
  • Other scientific and technical consulting
  • Other consulting and miscellaneous services
  • Industry Activities
  • Economic consulting services
  • Geological and geophysical consulting services
  • Soil management, crop and animal production consulting services
  • Heritage consulting services
  • Occupational health and safety consulting services
  • Agricultural and fisheries consulting
  • Other energy and mining consulting services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Government expenditure and investment
  • Research and development expenditure
  • Demand from mining
  • Demand from agriculture, forestry, fishing and hunting

  • Current Performance
  • Fertile landscape for growth
  • Low energy
  • Bent but not broken
  • Chart: Revenue Growth

  • Industry Outlook
  • Investment and corporate conditions
  • Mining industry improves
  • Profit stabilizes
  • Table: Scientific & Economic Consulting Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Scientific & Economic Consulting Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting In Canada
  • Mining In Canada
  • Utilities In Canada
  • Manufacturing In Canada
  • Transportation and Warehousing In Canada
  • Professional, Scientific and Technical Services In Canada
  • Public Administration in Canada

  • Key Selling Industries
  • Commercial Leasing in Canada
  • Geophysical Services in Canada
  • IT Consulting in Canada
  • Laboratory Supply Wholesaling in Canada
  • Office Supply Stores in Canada

  • Products & Services
  • Other scientific and technical consulting
  • Agriculture, energy and commodities consulting
  • Occupational health, safety and security consulting
  • Economic consulting
  • Other consulting and miscellaneous services
  • Chart: Scientific & Economic Consulting Industry Products and Services Segmentation

  • Demand Determinants
  • Research and development expenditure
  • Growth in outsourcing
  • Downstream demand

  • Major Markets
  • Other businesses
  • Agriculture, energy and mining companies
  • Government and nonprofit organizations
  • Individuals
  • Chart: Major Market Segmentation for the Scientific & Economic Consulting Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchases and depreciationOther
  • Chart: Cost Structure Benchmarking – Sector vs Scientific & Economic Consulting

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Scientific & Economic Consulting Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Scientific & Economic Consulting Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Scientific & Economic Consulting Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Research and development expenditure (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Antitrust
  • Refers to legislation relating to the prevention of monopolies and promoting competition.
  • Feasibility Studies
  • Refers to the objective analysis of strengths and weaknesses for proposed business ventures.
  • Geophysical
  • Refers to the study of the earth and physics of the environment.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Scientific & Economic Consulting market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Scientific & Economic Consulting:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Scientific & Economic Consulting market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Scientific & Economic Consulting, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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