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Personal Legal Services in Australia: Market Research Report

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

Personal Legal Services Market Research Report | Advisory & Financial Services | Law Firms | May 2015

Right side of the law: The diversity of industry services ensures steady revenue growth

IBISWorld’s Personal 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
Slater & Gordon Slater & Gordon market share
Industry Statistics & Market Size
Revenue
$8bn
Annual Growth 10-15
3.1%
Annual Growth 15-20
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Profit
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Employment
35,529
Businesses
9,972
Industry Analysis & Industry Trends

Workers, households and individuals across Australia are exposed to numerous risks, with a seemingly endless number of incidents and transactions occurring annually that require the services of a legal practitioner. While personal injury represents a significant contributor to industry revenue, other major industry services include property law and family law. As households' demand for legal services is typically unaffected by economic conditions, industry revenue was not greatly affected by the global financial crisis. Over the five years through 2014-15, industry revenue is forecast to grow at a compound annual rate of 3.1% to reach $7.8 billion in 2014-15, including estimated growth of 3.8% in the current year... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Personal Legal Services industry has a low level of market share concentration, with the top four players accounting for significantly less than 40% of revenue. The industry is dominated by small firms and non-employing solicitors. Major players generate only a low level of industry revenue, although this share has increased over the past five years. The diversity of areas of law covered by the industry and the specificity of the practice of the law encourage specialisation.

With the current structure, a lawyer or practice that builds expertise in a certain area is able to capture economies of scale. They are able to offset the time needed to develop expertise with a high volume of cases in that area... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Personal Legal Services Industry?

Legal practitioners in this industry (i.e. lawyers or attorneys) advise and represent individuals. The most significant areas of practice are in the matters of personal injury law, family law, property law, class actions, wills, probates and residential conveyancing.

Industry Products
Property lawWills, probate and estate activitiesFamily lawPersonal injury law
 
Industry Activities
Legal advice servicesLitigation servicesAlternative dispute resolution servicesLegal advice servicesLitigation servicesAlternative dispute resolution services


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