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Legal Services in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Legal Services Market Research Report | ANZSIC M6931 | Mar 2016

Solid defence: Mergers with overseas firms are expected to counter weak downstream demand

IBISWorld’s Legal Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$23bn
Annual Growth 11-16
2.2%
Annual Growth 16-21
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Profit
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Employment
105,476
Businesses
19,913
Industry Analysis & Industry Trends

The past five years have challenged the Legal Services industry, with the aftermath of the global financial crisis taking its toll on industry demand. Industry revenue growth has slowed as businesses have implemented cost-cutting measures. Fluctuating business confidence has deterred many companies from pursuing mergers and acquisitions and other transactional work. Price pressures have mounted over the past five years as external competition for commercial legal work, particularly from accounting firms, has risen. Industry clients have increasingly demanded value-for-money over the past five years and, in line with this trend, many clients have switched from large legal firms to cheaper small or mid-tier firms... purchase to read more

Industry Report - Industry Analysis Chapter

The Legal Services industry has endured a challenging five years, with fluctuating demand for legal services due to the lingering effects of the global financial crisis. Over the past five years, volatile business confidence has contributed to a slowdown in transactional work including mergers and acquisitions. As a result, demand for commercial law services, the industry’s largest service, has been subdued over the past five years.

To offset weak demand for commercial law services, many of the industry’s larger players have purchased smaller firms or expanded their international presence through mergers or alliances with overseas law firms, increasing their exposure to other markets... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Legal Services Industry?

Firms in the industry primarily provide legal advice and representation, and the preparation of legal documents. These services are usually provided by solicitors, barristers and legal aid offices. Conveyancing services provided by lawyers and patent offices are also included in the industry. The industry does not include services provided by in-house legal teams.

Industry Products
Commercial law servicesPersonal legal servicesProperty law servicesIndustrial and workplace relations servicesIntellectual property law servicesCommunity legal servicesCriminal law servicesAdministrative, constitutional and other law services
 
Industry Activities
Advocate servicesBarrister servicesConveyancing servicesLegal aid servicesNotary servicesPatent attorney servicesSolicitor servicesPublic prosecutor servicesGovernment solicitor servicesTitle-searching services


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