Markets Served Holding Steady, But There Are Changes

Here are the results from CLP Central’s Communication Technology Consultants Market Research Survey: “How have the vertical markets you’ve consulted to changed over time?” We asked for responses from five years ago, and today.

The chart of results is below:

The results of this survey show that the need for communications technology consultants continues to cut across all vertical markets, and that the majority of consultants horizontally serve the needs of these markets.

Only two verticals showed significant change: banking & financial services, and healthcare.

The percentage of consultants serving the banking and financial services sector declined from 40.3 percent of respondents to 28.6 percent. This may be the result of consolidation amongst major players in this sector along with adapting to increased regulation as a priority over assessments and new investment in communications technology.

The percentage of consultants serving the healthcare industry has grown from 37.1 percent to 47.6 percent. This could be attributable to the increased emphasis on customer service, the growing use of patient profile portals and online diagnostics, patient communications and reporting, health insurance coverage transactions, etc.

Otherwise, the rest of the areas served by the communications technology consultants are holding steady, reflecting the continued need for consulting services to keep communications systems current.

The Next Survey Question

Our next survey question asks which communications technology trends will drive the need for consultants and the growth of your practice over the next two years. Please take this short one-question survey and we’ll keep sending you the results. The more we help you know about your markets the better you’ll be able to serve them.