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2024 U.S. Industry Statistics & Market Forecast - Office Administrative Services
Market Size & Industry Statistics
The total U.S. industry market size for Office Administrative 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.
| 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 Office Administrative Services industry include:- Increased automation and use of AI technologies
- Shift towards remote work and virtual offices
- Growing demand for environmentally sustainable practices
- Rise in outsourcing administrative functions
- Integration of advanced communication tools
- Heightened focus on data security and privacy compliance
- Expansion of services to include more diverse business tasks
- Adoption of cloud-based solutions
- Greater emphasis on cost efficiency and scalability
- Evolving workforce skills requirements due to technological advancements
- Increased reliance on analytics for business decision-making
- Growing importance of customer service in administrative roles
Product & Services Breakdown
Research products and services in the Office Administrative Services 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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Medical Case Management Services |
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Office Administrative Services |
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Facilities Support Services |
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Construction Management Services |
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Property Management Services (I.E., Real Estate) |
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Project Management Services |
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Bookkeeping And Compilation Services |
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It Infrastructure And Network Management Services |
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Computer Systems Management |
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Strategic Management Consulting And Implementation Services |
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Financial Management Consulting And Implementation Services |
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Marketing Management Consulting And Implementation Services |
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Human Resources Management Consulting And Implementation Services |
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Operations And Supply Chain Management Consulting And Implementation Services |
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Other Management Services |
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All Other Receipts |
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All Other Operating Receipts |
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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 |
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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 | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Office Administrative Services 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 Office Administrative Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| 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 Office Administrative Services 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 | 19% | Order at top of page |
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| Top Executives | 8% | |||
| Chief Executives | 1% | |||
| General and Operations Managers | 7% | |||
| General and Operations Managers | 7% | |||
| Operations Specialties Managers | 6% | |||
| Business and Financial Operations Occupations | 19% | |||
| Business Operations Specialists | 13% | |||
| Computer and Mathematical Occupations | 7% | |||
| Computer Occupations | 7% | |||
| Office and Administrative Support Occupations | 37% | |||
| Financial Clerks | 10% | |||
| Bookkeeping, Accounting, and Auditing Clerks | 5% | |||
| Bookkeeping, Accounting, and Auditing Clerks | 5% | |||
| Information and Record Clerks | 10% | |||
| Customer Service Representatives | 7% | |||
| Customer Service Representatives | 7% | |||
| Secretaries and Administrative Assistants | 6% | |||
| Secretaries and Administrative Assistants | 6% | |||
| Other Office and Administrative Support Workers | 6% | |||
Office Administrative Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Office Administrative 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 Office Administrative 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 Office Administrative Services industry. |
Source:
Innovation News
- Jun 06, 2024: Rearden patents Systems And Methods For Exploiting Inter-cell Multiplexing Gain In Wireless Cellular Systems Via Distributed Input Distributed Output Technology
- Feb 29, 2024: Revlogical patents System And Method For Controlling A Camera Based On Three-dimensional Location Data
- Feb 29, 2024: Kennesaw State University patents Pyrrole Derived Compositions And Sythesis Methods
- Feb 22, 2024: Everon24 raises $78 million in funding.
- Feb 02, 2024: OpenAI Startup Fund SPV I raises $10 million in funding.
- Jan 24, 2024: Ellevet Sciences trademarks "ELLEVET ACADEMY" - Education services
- Jan 18, 2024: Hisense Usa trademarks "CANVASTV" - Televisions; Television monitors; Television monitors with television tuners; Television receivers; Television sets; Television tuners; Televisions and monitors; TV monitors; Ultra high definition televisions; Video monitors; Video receivers; Video screens; HD (High Definition) televisions; High definition televisions (HDTVs); Internet-ready televisions; Smart televisions
- Jan 17, 2024: Curative trademarks "CURATIVITY" - Health care services
- Nov 20, 2023: Encompass Technologies raises $10 million in funding.
Recent Federal Contracts for Office Administrative Services
- Apr 02, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $100,540
- Apr 02, 2024: FORFEITURE SUPPORT ASSOCIATES LLC (Herndon, VA) awarded $110,751
- Apr 02, 2024: BLUEPATH LABS LLC (Washington, DC) awarded $4,949,993
- Apr 02, 2024: TMC-TELESOLV (Battleboro, NC) awarded $750,003
- Apr 02, 2024: SIRCO IT, LLC (Susanville, CA) awarded $358,085
- Apr 02, 2024: B & B FLOOR SERVICES, LLC (Washington, DC) awarded $1,472,612
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