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Scientific and Economic Consulting in Canada Industry Market Research Report Now Available from IBISWorld
Date:8/16/2014

New York, NY (PRWEB) August 16, 2014

Firms in the Scientific and Economic Consulting industry 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 range of different markets. Therefore, industry services range from geological and geophysical consulting services to risk management and business expansion plans. “Consequently, over the past five years, the recovery of the Canadian economy following the recession has boosted industry revenue,” according to IBISWorld Industry Analyst Jeremy Edwards. Rapidly rising corporate profit has increased the number of businesses and the level of business investment activity during the period, which has translated into strong industry growth for consultants. Furthermore, the mining sector continues to play a key role in the Canadian economy and the Scientific and Economic Consulting industry. As a result, Canada's rich natural reserves have been a burgeoning factor for scientific consultants that provide resource reserve estimation services and geological formation advisory services.

“Agricultural markets have also steadily grown over the past five years, with consultants providing advice on soil management, crop and animal production,” says Edwards. Consequently, the industry is estimated to grow an annualized 6.8% over the five years to 2014, reaching $3.6 billion. Growth is expected to slow in 2014 to 3.7%, as falling government expenditure and more stable gains to corporate profit encourage moderated growth. Low barriers to entry and strong improvement in profit is also forecast to cause the number of establish
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