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Industry Landscape
The economic consulting, urban planning, and public policy analysis industry is currently experiencing steady growth, driven by increasing demand for data-driven insights to address complex urban challenges, policy evaluation, and economic impact assessments. Regulatory changes, infrastructure development, and ESG considerations are also contributing factors, leading to a focus on specialized expertise and quantitative rigor.
Total Assets Under Management (AUM)
Economic Consulting Services Market Size in United States
~Estimated at approximately 15.6 billion USD in 2023 for the US market.
(5.5% CAGR)
Growth is fueled by increasing demand for specialized expertise across various sectors.
- Driven by complex regulatory environments and need for data-driven decision making.
- Increasing focus on public policy, urban development, and sustainability projects.
Total Addressable Market
15.6 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Predictive Analytics & AI
Utilizing AI and machine learning algorithms to forecast economic trends, urban growth patterns, and policy outcomes with greater accuracy.
Geographic Information Systems (GIS) Integration
Advanced integration of GIS with economic data for spatial analysis, visualization of urban challenges, and site selection for development projects.
Digital Twins & Urban Modeling
Creating virtual replicas of urban environments to simulate the impact of policy changes, infrastructure investments, and development scenarios.
Impactful Policy Frameworks
Infrastructure Investment and Jobs Act (IIJA) (2021)
This bipartisan bill provides significant federal funding for infrastructure projects across the United States, including transportation, broadband, water, and energy systems.
The IIJA creates substantial new opportunities for ESI to conduct economic impact assessments, benefit-cost analyses, and planning studies related to federally funded infrastructure projects for government and public agencies.
American Rescue Plan Act (ARPA) (2021)
ARPA provided emergency funding to state, local, and tribal governments to mitigate the economic impacts of the COVID-19 pandemic, including support for public health, economic recovery, and infrastructure.
ARPA funding necessitates economic analysis and evaluation for effective utilization and reporting, presenting opportunities for ESI to assist governmental clients with program design, impact measurement, and policy evaluation.
Federal Efforts on Affordable Housing Initiatives (Ongoing)
While not a single act, there's an increasing federal emphasis and potential for new legislation and funding programs aimed at addressing the affordable housing crisis, often through tax incentives, grants, and zoning reform encouragement.
Increased focus on affordable housing drives demand for ESI's expertise in market analysis, feasibility studies, and policy evaluation to support urban planning and real estate development clients.
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