Scientific & Economic Consulting in Canada - Industry Market Research Report

On a technicality: Rising downstream demand will support operator growth

Scientific and economic consulting operators in Canada enjoyed strong growth in large part due to robust demand from niche clients and a rapid economic recovery following a period of high volatility. Significant growth in demand from the agriculture, energy and mining sectors, which are one of the largest customer segments in the industry, helped stabilize revenue growth despite sharp volatility from other sectors of the economy during COVID-19 and the impact of rising interest rates to combat inflation. Since operators service a diverse array of clients, a decrease in one may lead to an opportunity in another. These trends caused revenue to grow at a CAGR of 3.3% to an estimated $6.0 billion through the end of 2023, including an estimated 1.9% slip in 2023, primarily influenced by rising interest rates and falling corporate profit.

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.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.