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2024 U.S. Industry Statistics & Market Forecast - Business Support Services


Market Size & Industry Statistics

The total U.S. industry market size for Business Support 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 Business Support Services industry is currently facing a number of key trends that are shaping the way in which businesses access and utilize support services.

First and foremost, there is a growing trend towards outsourcing as businesses look to streamline their operations and reduce costs. This has created an increasing demand for business support services providers who can offer a range of services including IT support, human resources management, marketing, and accounting.

Another key trend is the shift towards digitalization, which is transforming the way in which many support services are delivered. This includes the use of cloud-based systems for data storage and management, as well as the development of AI-powered chatbots and virtual assistants that can provide support and assistance around the clock.

The rise of remote work is also impacting the industry, as businesses seek to access support services from anywhere in the world. This has created an increasing demand for virtual assistants and remote workers who can provide support without the need for physical office space.

Finally, there is a growing focus on sustainability and social responsibility, with many businesses seeking out support service providers that prioritize environmental and social concerns. This includes providers that offer green initiatives, such as recycling programs and energy-efficient operations, as well as those that are committed to diversity and inclusion in their hiring practices.

Overall, these trends are shaping the way in which businesses access and utilize support services, and providers will need to adapt to stay competitive in the changing landscape of the industry.



Product & Services Breakdown

Research products and services in the Business Support 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.)

Document Finishing Services (Include Binding, Mounting, Laminating, Folding.)

Copying And Reproduction Services

Stenographic Services (Include Court Reporting Services.)

Telemarketing Services

Outbound Telemarketing Services

Inbound Telemarketing Services

Telephone Answering And Messaging Services, Including Contact/Call Center Services

Postal And Shipping Services And Mailbox Rentals

Mail Presorting Services And Address Barcoding

Packaging And Labeling Services

Collection Services And Debt Recovery

Consumer Debt Collection

Commercial Debt Collection

Repossession And Collateral Recovery Services

Credit Rating Services (Include Credit Investigation Services, Reporting Bureaus, And Credit Agencies.)

Individual Credit Rating Services

Commercial Credit Rating Services

Fundraising Organization Services (On A Contract Or Fee Basis For Clients, Individuals, Or Organizations)

Distance Conferencing Services

Printing Services

Printing Services - Quick

Printing Services - Digital

Other Printing Services

Resale Of Merchandise

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 Business Support 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 Business Support 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 Business Support 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


Business Support Services Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Business Support 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 Business Support 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 Business Support Services industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Business Support Services

  • Feb 27, 2024: VET REPORTING LLC (Marietta, GA) awarded $1,941
  • Feb 27, 2024: AUCTANE, INC. (El Segundo, CA) awarded $6,720
  • Feb 27, 2024: METROPOLITAN COMMUNICATION SERVICES, INC. (Melbourne, FL) awarded $11,400
  • Feb 27, 2024: PITNEY BOWES INC. (Stamford, CT) awarded $1,027
  • Feb 27, 2024: STRATIVIA LLC (Largo, MD) awarded $492,179
  • Feb 27, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $10,899




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