Wednesday 28 January 2015

World’s energy consultants earned $11bn in 2014

Companies and governments around the world are increasingly hungry for counsel on energy and resources.

They spent nearly $11 billion (£7.4bn) for advice on energy and resources last year, suggests data from Source Information Services.

The multi-billion-dollar sum focuses on fees paid to the top 250 consultancies including Accenture, PwC, Deloitte, McKinsey, Bain and Capita.

The amount of money spent in 2014 jumped 5.7% from 2013 after edging up slowly in the years before.

Analysts at Source said the more positive picture is partly because of strong growth in the United States which makes up more than a third (39%) of the total market.

The most cash is spent on advice about technology, at 33% of the spend, something analysts expect to continue and even grow.

Alison Huntington from Source said: “Big data and digitisation are having a particularly revolutionary effect as clients are eager to collect and analyse vast amounts of data that simply weren’t available before.”