Google - Competitors

Google Competition

Now Viewing Google's competition in: Professional Services (primary)

Recent Developments

Revenue Grows for Services Industry - Professional services industry revenue growth is positive, but varies notably by segment. Overall revenue for US professional, scientific, and technical services increased 6 percent in fourth quarter 2007 from one year earlier. Among major segments, revenue for architectural and engineering services rose 11.9 percent; computer design and IT services, 8 percent; and accounting and related services, 2.6 percent. Legal services revenue declined 0.9 percent.

Select Segments Beat National Employment Rates - </strong>Employment growth in some professional services compares favorably to national rates. US employment in accounting and bookkeeping services increased 6 percent in March 2008 compared to a year earlier. Employment in computer system design and related services grew 3.9 percent and 2.8 percent in architectural and engineering services, but declined 0.5 percent in legal services. Overall national employment rose 0.2 percent.

Some Service Segments Raise Prices Only Slightly - Various professional services segments are charging and receiving only slightly higher prices than a year ago. Prices charged by US management and technical consulting firms increased, on average, 2.3 percent in March 2008 from a year ago. Architectural and engineering firms' prices rose 0.4 percent, but ad agencies' prices were flat.

Competitive Landscape

Demand is driven heavily by the health of the US economy and particularly by corporate profits. While some professional services are necessary for the normal functioning of most companies, some of the most profitable services aren't considered essential and are often postponed when corporate profits are low. The profitability of professional service firms is closely tied to good marketing, because many costs are fixed. Small firms can compete successfully with large firms in their segment if they offer special expertise.

Full Industry Overview For Professional Services

Professional Services Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US professional services is forecast to grow at an annual compounded rate of 3.6 percent between 2007 and 2012.

Professional Services Growth Levels

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.