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2024 U.S. Industry Statistics & Market Forecast - Document Preparation Services


Market Size & Industry Statistics

The total U.S. industry market size for Document Preparation Services: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Document Preparation Services industry is experiencing several key trends that are expected to significantly influence the sector in the coming years. One of the most significant trends is the increasing adoption of digitalization, which is changing the way documents are prepared and stored. The continued expansion of cloud-based services and the use of artificial intelligence systems in document preparation is expected to streamline the document preparation process and drive down costs.

Another important trend is the growth of the “gig economy” and the rise of freelance and remote work. As businesses seek to cut costs and reduce their overheads, they are increasingly turning to outsourcing document preparation services to freelance professionals. This is leading to a shift away from the traditional model of full-time employees providing these services.

The increasing focus on sustainability and environmental responsibility is another important trend in the document preparation services industry. More and more businesses are looking to reduce their paper usage and increase their use of digital documents as part of their sustainability initiatives.

Finally, compliance with government regulations is also a key concern for businesses, particularly in industries that require extensive documentation. The need to comply with regulations around data security, privacy, and accuracy is driving demand for specialized document preparation services that can help businesses maintain compliance while minimizing their risk of legal liability.



Product & Services Breakdown

Research products and services in the Document Preparation Services industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Document Preparation Services (Include Editing, Proofreading, Layout, Desktop Publishing.)

Typing Services (Include Transcription Services.)

Printing Services

Other Printing Services

All Other Receipts

All Other Operating Receipts



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Document Preparation Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Document Preparation Services industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Document Preparation Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 5%

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Chief Executives0%
General and Operations Managers3%
Business and Financial Operations Occupations 7%
Business Operations Specialists 6%
Sales and Related Occupations 17%
Other Sales and Related Workers 8%
Telemarketers 8%
Telemarketers 8%
Office and Administrative Support Occupations 61%
Financial Clerks 9%
Bill and Account Collectors 7%
Bill and Account Collectors 7%
Information and Record Clerks 39%
Customer Service Representatives 36%
Customer Service Representatives 36%
Other Office and Administrative Support Workers 5%
Source: Bureau of Labor Statistics


Document Preparation Services Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Document Preparation Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Document Preparation Services industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Document Preparation Services industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Document Preparation Services

  • Feb 27, 2024: SYNAVOICE LLC (Oakton, VA) awarded $5,000
  • Feb 26, 2024: DATA ENTRY COMPANY, THE (Oakland, MD) awarded $170,554
  • Feb 23, 2024: ALPHA4 SOLUTIONS, LLC (Marietta, GA) awarded $1,796
  • Feb 23, 2024: STRATCOMM INC (Natick, MA) awarded $1,998,761
  • Feb 21, 2024: ISO SERVICES, INC. (Jersey City, NJ) awarded $2,661,240
  • Feb 21, 2024: COMPUTER MATRIX COURT REPORTERS LLC (Anchorage, AK) awarded $293,500