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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 | Jun 2016

Home run: An increasing number of housing transfers has supported revenue growth

The Legal Services market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

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 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 - Starting a New Business Chapter

Barriers to entry in the industry are moderate and are expected to decrease over the next five years. The main barrier to entry is attaining a valid legal qualification. For solicitors, in addition to obtaining a university law degree, candidates must undertake further training before being admitted to practice. This involves working as an articled clerk or undertaking practical legal training at a certified institute.

Despite a high level of competition, the legal services industry is characterised by a low level of market share concentration, due to the presence of many small law practices. These small firms generally focus on local business issues... 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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