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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 | Nov 2016

Overseas opportunities: Larger industry firms are expanding overseas in search of growth

IBISWorld’s Legal Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$23bn
Annual Growth 12-17
1.9%
Annual Growth 17-22
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Profit
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Employment
107,060
Businesses
20,076
Industry Analysis & Industry Trends

The past five years have challenged the Legal Services industry, with the end of the commodities boom taking its toll on industry demand. Over the past five years, fluctuating business confidence has slowed industry revenue growth as businesses have tended to improve operational efficiency rather than expand through mergers. Additionally, price pressures have mounted over the past five years as external competition for commercial legal work, particularly from accounting firms, has risen... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Legal Services industry exhibits a low level of concentration as it is predominantly composed of small firms. Over half of all firms are sole practitioners or partnerships not employing any additional non-partner staff. These firms typically provide legal services to small businesses and households. The four largest firms, Herbert Smith Freehills, Allens, Minter Ellison and Clayton Utz, are expected to account for less than 10.0% of industry revenue. Unlike smaller players, many top-tier firms often focus on providing their services to large companies, advising on a range of legal matters and high value business, like international mergers.

The key to a significant share in a saturated market environment is niche practice and marketing... 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 relations and criminal law servicesIntellectual property law servicesCommunity legal 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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