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2024 U.S. Industry Statistics & Market Forecast - Social Assistance
Market Size & Industry Statistics
The total U.S. industry market size for Social Assistance:
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.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
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 (%) | |||||
Industry Insights
Major trends affect the Social Assistance industry include:- Increasing demand due to aging populations
- Rise in mental health awareness and services
- Integration of technology and digital tools in service delivery
- Growing importance of child care services for working professionals
- Expansion of in-home and community-based services
- Heightened regulatory scrutiny and compliance requirements
- Increased emphasis on outcome-based funding models
- Collaboration and partnerships with healthcare sectors
- Challenges in workforce recruitment and retention
- Greater focus on diversity and inclusion initiatives
Product & Services Breakdown
Research products and services in the Social Assistance industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Child Day Care Services |
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Social Assistance Services For Immigrants And Refugees |
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Food, Clothing, And Related Assistance Services (Include Social Assistance Related To Donated Household Goods And Food Such As S |
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Shelter And Related Assistance Services (Include Homeless Shelters.) |
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Training Services Related To Social Assistance |
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Pre-Primary Grade Instructional Programs (Include Preschool Programs Combined With Child Day Care.) |
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Outpatient Rehabilitation Services For Substance Abuse |
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Social Assistance Services For Children, Youth, And Families |
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Adoption Services |
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Foster Care And Guardianship Arrangement Services |
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Counseling And Information Services For Children, Youth, And Families |
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Other Social Assistance Services For Children, Youth, And Families |
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Children And Youth Recreational Programs |
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Social Assistance Services For Elderly And Disabled Adults |
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Social Assistance Services For The General Population, Excluding Children, Youth, Families, And Elderly And Disabled Adults |
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Counseling And Information Services, Excluding Children, Youth, Families, And Elderly And Disabled Adults |
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Social Assistance Services For The General Population, Excluding Children, Youth, Families, And Elderly And Disabled Adults - Vo |
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Other Social Assistance Services, Excluding Children, Youth, Families, And Elderly And Disabled Adults |
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Emergency Relief Services |
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Membership Services |
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Resale Of Merchandise |
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All Other Receipts |
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Contributions, Gifts, And Grants - Government |
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Contributions, Gifts, And Grants - Private |
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Investment Income, Including Interest And Dividends |
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Gains (Losses) From Assets Sold (Report Losses By Including A Dash Prior To The Dollar Amount.) |
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All Other Revenue |
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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.
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 Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
|
| 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 | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Social Assistance company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry 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 Social Assistance 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). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Social Assistance measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry 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. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry 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. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| 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. |
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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.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Other Management Occupations | 7% | |||
| Education and Childcare Administrators | 6% | |||
| Education and Childcare Administrators, Preschool and Daycare | 6% | |||
| Social and Community Service Managers | 5% | |||
| Social and Community Service Managers | 5% | |||
| Business and Financial Operations Occupations | 8% | |||
| Business Operations Specialists | 7% | |||
| Community and Social Service Occupations | 12% | |||
| Counselors, Social Workers, and Other Community and Social Service Specialists | 12% | |||
| Counselors | 14% | |||
| Rehabilitation Counselors | 10% | |||
| Social Workers | 8% | |||
| Miscellaneous Community and Social Service Specialists | 5% | |||
| Social and Human Service Assistants | 15% | |||
| Educational Instruction and Library Occupations | 12% | |||
| Preschool, Elementary, Middle, Secondary, and Special Education Teachers | 8% | |||
| Preschool and Kindergarten Teachers | 7% | |||
| Preschool Teachers, Except Special Education | 7% | |||
| Other Educational Instruction and Library Occupations | 14% | |||
| Teaching Assistants | 14% | |||
| Teaching Assistants, Except Postsecondary | 14% | |||
| Healthcare Support Occupations | 46% | |||
| Home Health and Personal Care Aides; and Nursing Assistants, Orderlies, and Psychiatric Aides | 46% | |||
| Home Health and Personal Care Aides | 45% | |||
| Building and Grounds Cleaning and Maintenance Occupations | 10% | |||
| Building Cleaning and Pest Control Workers | 8% | |||
| Building Cleaning Workers | 8% | |||
| Janitors and Cleaners, Except Maids and Housekeeping Cleaners | 8% | |||
| Personal Care and Service Occupations | 9% | |||
| Other Personal Care and Service Workers | 8% | |||
| Childcare Workers | 6% | |||
| Childcare Workers | 6% | |||
| Residential Advisors | 5% | |||
| Residential Advisors | 5% | |||
| Office and Administrative Support Occupations | 5% | |||
| Production Occupations | 7% | |||
| Transportation and Material Moving Occupations | 7% | |||
| Material Moving Workers | 6% | |||
| Laborers and Material Movers | 6% | |||
Social Assistance Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Social Assistance 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 Social Assistance 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 Social Assistance industry. |
Source:
Innovation News
- May 23, 2024: Cicoa Aging & In-Home Solutions patents Correspondence And Storage Kit
- Apr 02, 2024: Pairtree raises $2 million in funding.
- Jan 31, 2024: Amyotrophic Lateral Sclerosis Association trademarks "CERTIFIED TREATMENT CENTERS OF EXCELLENCE" - Medical and healthcare services
- Jan 31, 2024: Amyotrophic Lateral Sclerosis Association trademarks "RECOGNIZED TREATMENT CENTERS" - Medical and healthcare services
- Jan 25, 2024: American National Red Cross trademarks "1-800-HELP NOW" - Charitable fundraising services
- Jan 11, 2024: Einstein Industries patents Enhanced Metadata Collection And Output
- Jan 08, 2024: SocialRx raises $1 million in funding.
- Dec 22, 2023: Equiscript Holdings raises $1 million in funding.
- Oct 26, 2023: Boppy Company LLC. patents Full Body Side Sleep Pillow And Methods
Recent Federal Contracts for Social Assistance
- Apr 02, 2024: AMERICAN CANYON SOLUTIONS, INC. (Napa, CA) awarded $12,345,130
- Apr 02, 2024: GOODWILL INDUSTRIES OF NORTHERN MICHIGAN, INC (Traverse City, MI) awarded $174,985
- Apr 02, 2024: OPPORTUNITY HOUSE (Reading, PA) awarded $114,660
- Apr 01, 2024: VOLUNTEERS OF AMERICA OF LOS ANGELES (Los Angeles, CA) awarded $876,403
- Apr 01, 2024: BLENDED SPIRITS RANCH (Fairview, PA) awarded $29,120
- Apr 01, 2024: HOLT STREET MIRACLE CENTER (Dayton, OH) awarded $383,250
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