The consulting sector showed a noticeable slowdown in 2008 as a result of the deterioration of the economic activity in the latter part of the year. Thus, the aggregated turnover reached a total of $13.04 billion, with an increase of 7 percent over the previous year, while in 2007 the growth rate had been 14 percent, according to a recent report by DBK.
Overview of the consulting sector in Spain
While the consulting sector aggregated turnover for 2008 is estimated at $13.04 billion, the amount estimated for 2009 is $12.6 billion, a decline of 4 percent. Some specific areas of activity within the industry have fared better than others:
Technological services composed more than the 80 percent of the turnover. Thus, IT consulting increased by 6 percent reaching $5.39 billion in 2008. The outsourcing sector, on the other hand, was close to $ 5.29 billion, 10 percent more than the previous year 2007.
The area of strategy, processes and operations consulting reached $2.3 billion in 2008 growing only 4 percent, compared to the 12.5 percent growth seen in 2007.
The modernization plans carried out by public administrations resulted in continuing growth for services rendered to the public sector.. In the private sector, the finance/insurance sector remained as the highest participant in the market, followed by the telecommunication/media sector.
There is still a progressive tendency towards sectoral concentration particularly in the IT and outsourcing sectors. In recent years f many specialized small and medium-sized businesses have been purchased, and there have been mergers between large firms. The top five firms claimed 40 percent of the market in 2008, while the market share of the top ten was 55 percent.
By Jesus Garcia