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2024 U.S. Industry Statistics & Market Forecast - Title Abstract and Settlement Offices
Market Size & Industry Statistics
The total U.S. industry market size for Title Abstract and Settlement Offices:
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 Title Abstract and Settlement Offices industry include:- Increasing regulatory requirements
- Digitalization and automation of services
- Heightened competition from online service providers
- Growing importance of cybersecurity measures
- Consolidation among industry players
- Fluctuations in the real estate market
- Rising consumer demand for faster closing processes
- Integration of blockchain technology
- Expanding geographic markets through online platforms
- Impact of remote work trends on local markets
- Sustainability and environmental considerations in business practices
Product & Services Breakdown
Research products and services in the Title Abstract and Settlement Offices 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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Legal Services, Civil Law - Real Estate Law |
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Legal Research And Document Services |
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Title, Abstract, And Settlement Services |
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Other Document Filing And Search 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 Title Abstract and Settlement Offices 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 Title Abstract and Settlement Offices 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 Title Abstract and Settlement Offices 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 | 3% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Legal Occupations | 62% | |||
| Lawyers, Judges, and Related Workers | 37% | |||
| Lawyers and Judicial Law Clerks | 37% | |||
| Lawyers | 37% | |||
| Legal Support Workers | 25% | |||
| Paralegals and Legal Assistants | 22% | |||
| Paralegals and Legal Assistants | 22% | |||
| Office and Administrative Support Occupations | 27% | |||
| Secretaries and Administrative Assistants | 14% | |||
| Secretaries and Administrative Assistants | 14% | |||
| Legal Secretaries and Administrative Assistants | 11% | |||
Title Abstract and Settlement Offices Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Title Abstract and Settlement Offices 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 Title Abstract and Settlement Offices 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 Title Abstract and Settlement Offices industry. |
Source:
Innovation News
- Dec 19, 2023: Reliant Title & Escrow trademarks "AMERICAN EAGLE TITLE INSURANCE COMPANY" - Real estate escrow services
- Nov 09, 2023: Direct Title Solutions trademarks "WE MAKE REAL ESTATE HAPPEN" - Real estate settlement services; title reporting services
- Jun 23, 2023: Direct Title Solutions trademarks "DIRECT DATA" - Software as a Service (SAAS), to streamline and automate the research, analysis and data entry of public records between the courthouse and title production platforms
- Apr 16, 2021: Investment Title raises $7 million in funding.
- May 01, 2019: Investment Title raises $9 million in funding.
- Mar 12, 2018: Investment Title raises $3 million in funding.
Recent Federal Contracts for Title Abstract and Settlement Offices
- Apr 02, 2024: CHOICE TITLE INC (Prairieville, LA) awarded $137,166
- Mar 29, 2024: DATA TRACE INFORMATION SERVICES LLC (Santa Ana, CA) awarded $13,619
- Mar 28, 2024: KNIGHT BARRY TITLE, INC. (Milwaukee, WI) awarded $8,750
- Mar 28, 2024: GILCHRIST LAW FIRM, P.A., THE (Coral Gables, FL) awarded $9,083
- Mar 27, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $10,000
- Mar 21, 2024: BISMARCK TITLE CO (Bismarck, ND) awarded $10,675
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