This report is full of industry insights including historical and forecasted market size, revenue and industry breakdowns by product lines, size of company, concentration segmentation, business structure, customer type, state and MSA, profitability, financial ratios, balance sheet benchmarks, BCG matrix, extensive statistics by state and MSA, operating expense details, workforce composition, industry consolidation analysis, sector benchmarks, employee productivity, price inflation, pay bands for the top 20 industry jobs, trend analysis and forecasts on numerous industry statistics including companies, locations, employees, pay, and much more.
The Paralegal, Patent, Processing and Notary Services industry includes companies of legal practitioners (except offices of lawyers and attorneys, settlement offices, and title abstract offices). These companies are primarily engaged in providing paralegal services and specialized legal paralegal services, such as notary public services, patent agent services (i.e., patent filing and searching services), and processing services.
This report was developed utilizing the results from extensive business surveys and econometrics. Professionals utilize this report for market sizing, industry analysis, benchmarking, forecasting, strategic planning, market analysis, due diligence, valuation, sales & marketing strategy, operational streamlining, organizational strategy, evaluating opportunities, and many other analyses.
Review the 78-page table of contents or download a sample report to see the data-rich insights, which leaders have come to depend on for their research, strategic, and benchmarking needs.
Below are a few of the hundreds of stats from the report:
INDUSTRY SIZE
- In 2023, industry sales were $7.8 billion
- Purchase now for historicals (2015-2023) and forecasts for 2024 and the next 5 years
INDUSTRY GROWTH
- Over the past 5 years, the industry has grown at an annual rate of 8.7%
- The report has historical, annual and forecasted growth rates
COMPANY GROWTH
- There are 3,989 companies in the industry
- Learn more about the historical and forecasted industry composition
SALES PER COMPANY
- In 2023, the average sales per company was $2 million
- Purchase now for historical and forecasted sales per company
- INFLATION & PRICING
- Inflation has averaged 4.6% over the past 5 years
- The report has historicals (2015-2023), 4 years of monthly figures, and 2024 & 5-year forecast
PROFITABILITY
- For unprofitable companies, the average net loss is -5.9%
- The report has more on market and profitability dynamics
RIGHTSIZING ANALYSIS
- Employee productivity is $314,461
- Learn more about historical and forecasted employee productivity
EXPENSE BENCHMARKING
- 3.9% of expenses is spent on health insurance
- Benchmark against 24 other expense categories
OPERATING EXPENSES
- In 2023, industry operating expenses grew 4.2%
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PAYROLL BY STATE
- California averages $71,454 in payroll per employee
- Purchase now for payroll stats on other states
JOB CATEGORIZATION BENCHMARKS
- 2.8% of employees in the industry are in management positions
- Benchmark against 25 other job categories
JOB CATEGORIZATION PAY RANGES
- The average industry hourly pay for office and administrative jobs is $23.86
- Purchase now for the bottom 10%, 25%, average, top 75% and 90% pay ranges in 26 job categories
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Table of Contents
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Methodology
The industry market research reports are based on annual business surveys submitted by companies in the industry covering extensive financial and operating topics such as revenue, costs, labor, profitability, capital, product lines, operations, locations, and wages.
The analysts utilize the historical data from the business surveys as a foundation for forecasts and apply the data to proprietary econometric models that adjust for macro, economic, cyclical, and industry trends and influences.
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