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2024 U.S. Industry Statistics & Market Forecast - Other Professional, Scientific, and Technical Services
Market Size & Industry Statistics
The total U.S. industry market size for Other Professional, Scientific, and Technical 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 Other Professional, Scientific, and Technical Services industry include:- Rising demand for specialized expertise due to technological advancements
- Increased outsourcing of technical services by businesses seeking cost efficiency
- Greater integration of AI and machine learning tools for enhanced service offerings
- Growing importance of cybersecurity services amid heightened digital threats
- Expansion of services globally, driven by easier market access through digital platforms
- Sustainability becoming a key factor in project and service delivery
- Shift towards remote work models, influencing service delivery methods
- Increased regulatory scrutiny and compliance requirements across sectors
- Rising competition from freelancers and new tech-driven startups
- Greater emphasis on data analytics and big data services
- Adoption of blockchain technology in sectors like legal and finance services
- Focus on personalized and tailor-made services for niche markets
- Emergence of virtual reality and augmented reality in training and development services
Product & Services Breakdown
Research products and services in the Other Professional, Scientific, and Technical 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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Digital Photo And Photofinishing Services |
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Consumer Credit Counseling And Credit Repair Services |
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Visual Inspection Of Electric Transmission Lines, Gas Lines, Or Pipelines |
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Pet Care Services |
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Pet Grooming Services |
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Pet Boarding Services |
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Pet Funeral Services |
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Other Pet Care Services |
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Business Brokering Services |
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Marketing Research Services |
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Marketing Research Services, Conducted By Telephone |
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Marketing Research Services, Conducted Over The Internet |
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Marketing Research Services, Conducted By Mail |
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Marketing Research Services, Conducted Using Focus Groups |
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Marketing Research Services, Conducted Using Face-To-Face Methods, Excluding Focus Groups |
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Media Audience Research Services |
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Other Marketing Research Services |
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Public Opinion Research/Polling Services |
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Statistical Sampling And Survey Design Services |
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Portrait Photography Services |
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General Individual And Group Portrait Photography Services |
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School Portrait Services |
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Wedding Photography Services |
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Wedding Still Photography Services |
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Other Special Event Photography Or Video Services |
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Commercial Or Industrial Photography Services |
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Other Photography Services |
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Translation And Interpretation Services |
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Translation Services |
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Interpretation Services |
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Veterinary Services |
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Routine Veterinary Examinations |
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Surgical Treatment Of Animals |
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Non-Surgical Treatment Of Animals |
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Veterinary Laboratory Services |
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Veterinary Inspection And Disease Investigation Services |
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Weather Forecasting Services |
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Appraisal Services, Excluding Real Estate |
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Commodity Inspection Services |
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Arbitration, Mediation, And Conciliation Services |
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Resale Of Merchandise |
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Resale Of Other Merchandise |
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Resale Of Pet And Animal Supplies |
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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) |
|
|---|---|---|
| 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 Other Professional, Scientific, and Technical 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 Other Professional, Scientific, and Technical 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). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Other Professional, Scientific, and Technical Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| 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. |
|
| 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. |
|
| 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 | 7% | Order at top of page |
||
| Top Executives | 5% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 4% | |||
| Business and Financial Operations Occupations | 9% | |||
| Business Operations Specialists | 7% | |||
| Arts, Design, Entertainment, Sports, and Media Occupations | 7% | |||
| Media and Communication Equipment Workers | 56% | |||
| Photographers | 52% | |||
| Photographers | 52% | |||
| Healthcare Practitioners and Technical Occupations | 23% | |||
| Healthcare Diagnosing or Treating Practitioners | 9% | |||
| Veterinarians | 9% | |||
| Veterinarians | 9% | |||
| Health Technologists and Technicians | 14% | |||
| Health Practitioner Support Technologists and Technicians | 13% | |||
| Veterinary Technologists and Technicians | 13% | |||
| Healthcare Support Occupations | 12% | |||
| Other Healthcare Support Occupations | 12% | |||
| Miscellaneous Healthcare Support Occupations | 12% | |||
| Veterinary Assistants and Laboratory Animal Caretakers | 12% | |||
| Personal Care and Service Occupations | 9% | |||
| Animal Care and Service Workers | 8% | |||
| Animal Caretakers | 8% | |||
| Animal Caretakers | 8% | |||
| Office and Administrative Support Occupations | 21% | |||
| Information and Record Clerks | 12% | |||
| Receptionists and Information Clerks | 7% | |||
| Receptionists and Information Clerks | 7% | |||
| Other Office and Administrative Support Workers | 6% | |||
| Office Clerks, General | 5% | |||
| Office Clerks, General | 5% | |||
| Production Occupations | 5% | |||
Other Professional, Scientific, and Technical Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Other Professional, Scientific, and Technical 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 Other Professional, Scientific, and Technical 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 Other Professional, Scientific, and Technical Services industry. |
Source:
Innovation News
- May 31, 2024: Mobiquity Technologies raises $1 million in funding.
- Apr 18, 2024: Ispottv patents System And Method For Continuous Play Quantification
- Apr 12, 2024: BetterVet raises $18 million in funding.
- Mar 07, 2024: SDL patents Systems And Methods Of Generating Analytical Data Based On Captured Audit Trails
- Feb 15, 2024: Language Line patents Computer-implemented Method For Connecting A User To A Mobile Telephone-based Language Interpretation Session
- Jan 30, 2024: Nextmune US trademarks "REAL TUFF" - Pet toys
- Jan 26, 2024: Red Carrot trademarks "RED CARROT" - Business management; marketing services; business consultancy services; strategic business planning, consultancy and analysis services; advisory services relating to business planning; brand positioning services; brand strategy services
- Jan 26, 2024: Red Carrot trademarks "RED CARROT" - Business management; marketing services; business consultancy services; strategic business planning, consultancy and analysis services; advisory services relating to business planning; brand positioning services; brand strategy services
- Jan 22, 2024: Ispottv raises $3 million in funding.
Recent Federal Contracts for Other Professional, Scientific, and Technical Services
- Apr 02, 2024: KYLIE A WOOD (Broomfield, CO) awarded $12,168
- Apr 02, 2024: MICHIGAN STATE UNIVERSITY (East Lansing, MI) awarded $92,250
- Apr 02, 2024: TACTICAL MICRO, INC. (Santa Ana, CA) awarded $50,000
- Apr 02, 2024: APPLIED DEVELOPMENT LLC (Baltimore, MD) awarded $106,872
- Apr 02, 2024: PALLADIUM INTERNATIONAL, LLC (Washington, DC) awarded $48,825,842
- Apr 02, 2024: OCEAN ASSOCIATES INC (Arlington, VA) awarded $1,795,376
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