Government Sector Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 5/20/2024
SIC Codes: 91 , 92 , 93 , 94 , 95 , 96 , 97
NAICS Codes: 92
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Government Sector Industry Profile

Agencies in this sector administer government services at the federal, state, or municipal level. The largest US government agencies by employment include the federal Department of Defense, Department of Homeland Security, Department of Justice, Department of Veterans Affairs, and Postal Service.

Worldwide, there are some 195 nations with independent governmental administrations, as well as more than 70 dependent areas or territories. Global economic growth is forecast to moderately pick up to 2.7% in 2024, according to the United Nations Conference on Trade and Development (UNCTAD). The US government services sector consists of more than 90,000 state and local governments as well as about 450 federal government agencies, departments, and commissions. The budget estimates for the state and local governments account for about $1.1 trillion in both 2023 and 2024.

US state-specific data can be found in First Research's profiles of all 50 states and Washington, DC. Profiles also are available for Canadian provinces.


Demand for government services is driven by population growth and changing demographics of the US population. The Administration on Aging estimates that the 65-and-over population will climb to roughly 80 million by 2040, which will increase the demand for federal programs like Social Security and Medicare. State and local governments experience similar demand drivers, but face increasing or decreasing revenues from which to fund services based on shifts in the population, as well as changes in economic conditions. ...

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