Credit Bureaus & Rating Agencies in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: March 2024
NAICS 56145Revenue
$17.1bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
32,428
Businesses
1,520
Wages
$X.Xbn
Credit Bureaus & Rating Agencies in the US industry analysis
Credit bureaus and credit rating agents faced much volatility from downstream markets during the current period as COVID-19 and other economic disruptions hung over the US economy. The diverse nature of downstream clients helped to shield the industry from more significant troubles. Throughout 2020, only a few credit reporters and CRA's downstream clients were greatly affected. Consumers and non-banking businesses took a big hit as unemployment skyrocketed and business closures spiked. Investment from banking institutions and federal and state governments stopped any other falling demand. Downstream demand was further spurred by increasing aggregate household debt due to low interest rates and greater financial innovation. High demand from banking institutions and growing household debt also raised profits for credit bureaus and rating agencies.
The industry's performance took a turn for the worse in 2022 as rising interest rates increased recessionary fears. This reduced stock prices and hindered spending on rating agencies' services from financial institutions. Revenue recovered in 2023 and 2024 as investors became more confident and stock prices rose. Overall, revenue for credit bureaus and rating agencies in the United States is anticipated to expand at a CAGR of 5.1% during the current period, reaching $17.1 billion in 2024. This includes a 6.1% increase in revenue in that year.
The industry's performance will be constrained during the outlook period. Stable economic growth will boost business formation, increasing the number of loans in circulation and raising downstream demand for rating agencies' services. Despite this, economic uncertainty will reduce aggregate household debt, hindering demand for individual credit reports. Slower growth in the S&P 500 will constrain spending from financial institutions, reducing revenue for rating agencies. Overall, revenue for credit bureaus and rating agencies is forecast to creep upward at a CAGR of 0.7% during the outlook period, reaching $17.8 billion in 2029.
Trends and Insights
- A strong stock market has sustained revenue growth. This has provided credit rating agencies with massive downstream demand in the form of banking institutions despite COVID-19-related disruptions.
- The availability of credit boosts both consumers and businesses. During the current period, inexpensive and accessible credit meant a massive increase in downstream demand for credit bureaus.
- Texas and Florida have a boosted presence as establishments flock to their growing markets. With Texas becoming a new technology hub and Florida touting a large consumer population, credit bureaus and CRAs expanded into these states.
- Competition depends on the specific segment in this industry. The CRA industry is much less competitive since two major companies dominate it: Standard and Poor’s and Moody’s.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 5.1 % over the past five years, to reach an estimated $17.1bn in 2024.
Trends and Insights
Revenue has been sustained by growing aggregate household debt
- Much of the industry's revenue comes directly from rating services related to consumer debt. Higher levels of consumer debt are beneficial for companies' core services and heighten the need for more robust credit reporting agencies that can handle a larger quantity of customers.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The industry will benefit from stable economic growth
- Despite disruptions related to high inflation, rising interest rates and recessionary fears, the US economy is expected to perform well during the outlook period. Steady GDP growth will encourage business formation, causing more companies to seek loans. Lenders will respond by purchasing rating agencies' and credit bureaus' reports on the creditworthiness of these companies, spurring revenue growth.
Biggest companies in the Credit Bureaus & Rating Agencies in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Experian Plc | 2,714.3 | 933.5 | 34.4 | |
Moody’s Corporation | 2,402.8 | 1,161.5 | 48.3 | |
S&P Global Inc. | 2,369.7 | 1,403.0 | 59.2 |
To view the market share and analysis for all 8 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Individual credit reports and rating services, Commercial credit reports and rating services and Debt collection and risk management services. Individual credit reports and rating services is the largest segment of the Credit Bureaus & Rating Agencies in the US.
Trends and Insights
A strong stock market and heightened government spending boosts the commercial credit segment
- Commercial credit reports and rating services comprise the largest revenue share since institutions that seek to lend money to businesses use rating reports frequently to make strategic decisions.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Finance and Insurance in the US
- Manufacturing in the US
- Wholesale Trade in the US
Complementors
- Credit Unions in the US
- Real Estate Loans & Collateralized Debt in the US
- Market Research in the US
- Debt Collection Agencies in the US
International industries
- Credit Unions in Canada
- Credit Agencies in Australia
- Credit Reporting and Debt Collection Services in New Zealand
- Credit Bureaux & Rating Agencies in the UK
Table of Contents
About this industry
Industry definition
This industry comprises companies that provide information, outlooks and ratings on the creditworthiness of particular companies, individuals, securities or financial institutions. The industry can be divided into two primary groups: credit bureaus and credit rating agencies (CRAs). Credit bureaus offer services related to consumer credit information, while CRAs generally focus on businesses, governments, securities and financial markets.
What's included in this industry?
Providing individual credit reports and rating servicesOffering commercial credit reports and rating servicesProviding debt collection and risk management servicesOffering convention and trade show organization servicesProviding investigation servicesCompanies
Experian PlcMoody’s CorporationS&P Global Inc.Purchase this report to view all 8 major companies in this industry.
Related Terms
DATABASE MARKETINGFAIR AND ACCURATE CREDIT TRANSACTIONS ACT (FACTA) CREDIT RATING AGENCY (CRA)CREDIT BUREAU AGENCYCOLLATERALIZED DEBT OBLIGATIONS (CDOS)MORTGAGE-BACKED SECURITIES (MBSS)RECOGNIZED STATISTICAL RATING ORGANIZATIONINVESTMENT GRADEIndustry Code
NAICS 56145 - Credit Bureaus & Rating Agencies in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
A strong stock market has sustained revenue growth. This has provided credit rating agencies with massive downstream demand in the form of banking institutions despite COVID-...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The availability of credit boosts both consumers and businesses. During the current period, inexpensive and accessible credit meant a massive increase in downstream demand fo...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Texas and Florida have a boosted presence as establishments flock to their growing markets. With Texas becoming a new technology hub and Florida touting a large consumer popu...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competition depends on the specific segment in this industry. The CRA industry is much less competitive since two major companies dominate it: Standard and Poor’s and Moody’s...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The concentration among CRAs has not changed, as Standard and Poor's and Moody's remain the largest and most cited credit rating agencies in the United States. This hasn't ch...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Experian Plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Moody’s Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of S&P Global Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 5 additional companies
Detailed analysis
- Description and key data for Experian Plc, and factors influencing its performance in the industry
- Description and key data for Moody’s Corporation, and factors influencing its performance in the industry
- Description and key data for S&P Global Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 5 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The Dodd-Frank Act completely changed the rules and regulations surrounding financial institutions, making banks and other institutions proceed with meticulous caution to avoi...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit is high for this industry because CRAs can charge a higher premium for services. Profit's revenue share has soared during the current period as demand for credit ratin...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Credit Bureaus & Rating Agencies in the US industry in United States in 2024?
The market size of the Credit Bureaus & Rating Agencies in the US industry in United States is $17.1bn in 2024.
How many businesses are there in the Credit Bureaus & Rating Agencies in the US industry in 2024?
There are 1,520 businesses in the Credit Bureaus & Rating Agencies in the US industry in United States, which has grown at a CAGR of 8.1 % between 2019 and 2024.
Has the Credit Bureaus & Rating Agencies in the US industry in United States grown or declined over the past 5 years?
The market size of the Credit Bureaus & Rating Agencies in the US industry in United States has been growing at a CAGR of 5.1 % between 2019 and 2024.
What is the forecast growth of the Credit Bureaus & Rating Agencies in the US industry in United States over the next 5 years?
Over the next five years, the Credit Bureaus & Rating Agencies in the US industry in United States is expected to grow.
What are the biggest companies in the Credit Bureaus & Rating Agencies in the US market in United States?
The biggest companies operating in the Credit Bureaus & Rating Agencies market in United States are Experian Plc, Moody’s Corporation and S&P Global Inc.
What does the Credit Bureaus & Rating Agencies in the US in United States include?
Providing individual credit reports and rating services and Offering commercial credit reports and rating services are part of the Credit Bureaus & Rating Agencies in the US industry.
Which companies have the highest market share in the Credit Bureaus & Rating Agencies in the US in United States?
The company holding the most market share in United States is Experian Plc.
How competitive is the Credit Bureaus & Rating Agencies in the US industry in United States?
The level of competition is high and steady in the Credit Bureaus & Rating Agencies in the US industry in United States.
