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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 | Jun 2014

Long arm of the law: The diversity of industry services ensures a strong 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
$6bn
Annual Growth 09-14
4.0%
Annual Growth 14-19
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Profit
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Employment
26,613
Businesses
9,777
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 the households' demand for legal services are typically unaffected by economic conditions, industry revenue was not greatly affected by the global financial crisis. Over the five years through 2013-14, industry revenue is forecast to grow at a compound annual rate of 4.0%, to reach $6.5 billion in 2013-14, including estimated growth of 3.1% in the current year... purchase to read more

Industry Report - Starting a New Business Chapter

Principle barriers to entry in the industry are education and capital. To enter the industry as sole practitioner potential entrants need to satisfy the requirements for admission to their state or territory law society. To gain admission to legal practice prospective lawyers need to complete an accredited law degree and study subject areas required for admission. Candidates then need to complete an accredited program of practical training and satisfy character requirements (depending on the jurisdiction).

These stringent requirements with respect to education mean that access to appropriately trained staff is a barrier to entry for entrants looking to establish larger firms... 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
AdviceLitigationAlternative dispute resolution
 
Industry Activities
Legal advice servicesLitigation servicesAlternative dispute resolution servicesLegal advice servicesLitigation servicesAlternative dispute resolution services


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