The U.S. management consulting industry is estimated to be valued at around $240 billion in 2021, according to IBIS World. The large and relatively mature industry employs more than 1.6 million professionals in the U.S. alone and showed low single-digit growth over the last couple of years. The industry benefited from a strong economic climate leading up to the outbreak of COVID-19. M&A activity has seen a decline in 2020 but further remains stagnant as compared to recent years. So far, deal activity in 2021 has been on par compared to the same period last year.