$95.2bn
$X.Xbn
1m
858k
$XX.Xbn
The industry has skyrocketed, with revenue increasing over the past five years at a CAGR of 4.9% through the end of 2023 to $95.2 billion. The industry includes a wide variety of professional and technical service providers, including credit counselors, quantity surveyors, visual inspectors, weather forecasters, arbitrators and commodity inspectors. The industry is affected by many demographic and macroeconomic factors that have a material influence on the industry. The COVID-19 pandemic benefited credit counselors since more difficult economic conditions caused more consumers to seek financial advice. In 2022, credit counselors are expected to benefit again as high inflation, rising interest rates and recessionary fears create financial trouble for many families. But the construction and industrial sectors are expected to decline because of economic conditions. Overall, revenue is anticipated to climb 3.4% in 2023 alone. Profit is expected to increase during the current period, largely due to recovery from the pandemic.Credit counselors have benefited when the US economy struggled and performed at a lower level during periods of growth. Increased industrial production, demonstrated by a rise in the industrial production index, has increased demand for visual inspection services, which ensure the quality of a wide variety of machines, equipment and structures involved in the manufacturing, energy and mining industries. Weather forecasting services, which are used consistently by a wide variety of industries, have presented a stable source of demand for credit counselors during the period. Despite the wide variety of service providers included in this industry, most of them have benefited from growing local and state government investment and consumer spending.Revenue is forecast to climb steadily at a CAGR of 2.4% through the end of 2028 to $107.1 billion. Production and demand from construction are expected to hike through the end of 2028, contributing to an overall improving demand for quantity surveyors. Still, a strong economy is expected to reduce demand for consumer credit counseling. Weather forecasting services are also projected to support industry revenue growth during the outlook period, as their services tend to be less sensitive to external factors.
Industry revenue has grown at a CAGR of 4.9 % over the past five years, to reach an estimated $95.2bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Bureau Veritas S A | 469.3 | 49.7 | 10.6 | |
Sharper Shape Inc. | 457.9 | 48.5 | 10.6 | |
Acuren Inspection Inc. | 384.5 | 40.8 | 10.6 |
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Industry revenue is measured across several distinct product and services lines, including Credit counseling, Weather forecasting and Visual inspection . Credit counseling is the largest segment of the Credit Counselors, Surveyors & Appraisers in the US.
Credit counseling
Operators in this industry primarily provide quantity surveyor services (also known as cost estimation); estate appraisal services (except real estate); and consumer credit counseling services.
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NAICS 425110 - Credit Counselors, Surveyors & Appraisers in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The industry has benefited from the economic turmoil caused by the COVID-19 pandemic. Economic uncertainty boosted demand for credit counseling from the residential and comme...
Learn about an industry's products and services, markets and trends in international trade.
Credit counseling is the industry’s bread and butter. Credit counseling is used by both residential and commercial downstream markets, the latter of which is required by law ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Population hubs are natural congregation points for the industry. These areas have a high residential population and an equally large commercial presence, covering all of the...
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.
The industry is highly competitive because of its fragmented nature. Nonemployers and small companies compete with each other for local business.
Learn about the performance of the top companies in the industry.
The industry is highly fragmented. The industry’s largest companies hold less than a 0.5% market share.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Though the industry itself is not heavily regulated, laws are in place that require the use of industry services in downstream markets. For example, by law, businesses must u...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wages are the industry’s largest expense. Wages constitute nearly 40.0% of all expenses and have grown in line with revenue.
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Credit Counselors, Surveyors & Appraisers in the US industry in United States is $95.2bn in 2024.
There are 858k businesses in the Credit Counselors, Surveyors & Appraisers in the US industry in United States, which has grown at a CAGR of 0.5 % between 2018 and 2023.
The market size of the Credit Counselors, Surveyors & Appraisers in the US industry in United States has been growing at a CAGR of 4.9 % between 2018 and 2023.
Over the next five years, the Credit Counselors, Surveyors & Appraisers in the US industry in United States is expected to grow.
The biggest companies operating in the Credit Counselors, Surveyors & Appraisers market in United States are Bureau Veritas S A, Sharper Shape Inc. and Acuren Inspection Inc.
Providing arbitration, mediation and conciliation services, including credit counseling and Providing estate appraisal (except real estate) services are part of the Credit Counselors, Surveyors & Appraisers in the US industry.
The company holding the most market share in United States is Bureau Veritas S A.
The level of competition is high and steady in the Credit Counselors, Surveyors & Appraisers in the US industry in United States.