Legal Services in Australia - Market Research Report

Legal Services industry trends (2014-2019)

poll Average industry growth 2014–2019: 2.1%

The Legal Services industry has grown at a moderate pace over the past five years. Business confidence has been positive over the past five years, generating demand for the industry's value-added services, such as legal work relating to mergers and acquisitions, IPOs and restructuring initiatives. However, increasing external competition has constrained revenue growth over the period. As a result, industry revenue is expected to grow at an annualised 2.1% over the five years through 2018-19, to reach $21.3 billion. In 2018-19, industry revenue is expected to grow at a negligible 0.2%. A lower number of housing transfers and divorces, and a fall in criminal activity are expected to constrained industry revenue. Complex, high-value commercial transact...
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Legal Services industry outlook (2019-2024)

poll Average industry growth 2019-2024: x.xlockPurchase this report or a membership to unlock the average company profit margin for this industry.

Firms in the Legal Services industry are anticipated to face challenging conditions over the next five years. While demand for industry services is projected to increase over the period, operators in downstream markets are anticipated to increasingly seek value for money in their spending on legal services. This trend will mostly affect small firms offering commoditised services such as due diligence reports and conveyancing services. Competition from large accounting firms is anticipated to increase over the next five years, as these firms continue to expand their range of legal services. This competition is projected to decrease demand from large corporate clients over the period. Larger legal services firms are anticipated to continue focusing on...
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Legal Services industry statistics

  • attach_money Market Size: $21bn
  • business Number of Businesses: 24,138
  • poll Average Industry Profit Margin: x.x%
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  • supervisor_account Industry Employment: 115,613

Biggest companies in the Legal Services industry

The Legal Services in Australia industry has no companies with major market shares. Get the full report to find out why.

What is Legal Services industry?

Industry Definition

Industry firms primarily provide legal advice and representation and prepare legal documents. Solicitors, barristers and legal aid offices typically provide these services. Alternative dispute resolution, conveyancing and intellectual property services are also included in the industry. The industry does not include services provided by in-house legal teams.

Industry Products and Services

  • Commercial law services
  • Personal legal and industrial relations services
  • Property law services
  • Criminal law services
  • Intellectual property law services
  • Community legal services
  • Administrative, constitutional and other law services

Industry Activities

  • Advocate services
  • Barrister services
  • Conveyancing services
  • Legal aid services
  • Notary services
  • Patent attorney services
  • Solicitor services
  • Public prosecutor services
  • Government solicitor services
  • Title-searching services

Market research report - table of contents

Industry Definition

Industry firms primarily provide legal advice and representation and prepare legal documents. Solicitors, barristers and legal aid offices typically provide these services. Alternative dispute resolution, conveyancing and intellectual property services are also included in the industry. The industry does not include services provided by in-house legal teams.

Main Activities

  • Advocate services
  • Barrister services
  • Conveyancing services
  • Legal aid services
  • Notary services
  • Patent attorney services
  • Solicitor services
  • Public prosecutor services
  • Government solicitor services
  • Title-searching services

Similar Industries

Additional Resources

Industry Statistics Snapshot

Industry Structure

Executive Summary

Key External Drivers

Finance and insurance companies require a range of legal services due to the technical products these firms offer and their involvement in complex transac...
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Demand from financial and insurance services
Number of housing transfers
Business confidence index
Level of criminal activity

Current Performance

Globalisation and restructure
Increasing competition
 Chart: Revenue Growth

Industry Outlook

Downstream demand
Industry structure
New technology
 Table: Legal Services in Australia - Market Research Report Industry Revenue Outlook

Industry Life Cycle

Life Cycle Reasons
 Chart: Benchmarking - Legal Services in Australia - Market Research Report Industry Lifecycle vs The Economy

Supply Chain

Key Buying Industries

Mining
Construction in Australia
Telecommunications Services in Australia
Finance in Australia
Professional Services in Australia


Key Selling Industries

Legal Services in Australia
Accounting Services in Australia
Market Research and Statistical Services in Australia
Telecommunications Services in Australia
Office Property Operators in Australia


Products & Services

The Legal Services industry provides a variety of legal services. Small law firms and sole proprietors tend to specialise in one service segment, as they ...
IT, communications, health, pharmaceutical and biotechnology firms
Property operators and developers
Households
Governments and regulators
Other clients
Energy and resources firms

Demand Determinants

Demand for legal services is derived from businesses, governments and households from a range of markets. Businesses' demand for commercial legal services...
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Major Markets

IT, communications, health, pharmaceutical and biotechnology firms
Property operators and developers
Households
Governments and regulators
Other clients
Energy and resources firms

 Chart: Major Market Segmentation for the Legal Services in Australia - Market Research Report Industry

International Trade

Business Locations

Chart: Business Locations by State Chart: Business Locations by State

Market Share Concentration

The Legal Services industry exhibits low concentration. The industry's four largest players are expected to account for less than 40% of industry revenue ...
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Key Success Factors

Cost Structure Benchmarks

Profit, Purchases, Wages, Other Costs
 Chart: Cost Structure Benchmarking – Sector vs Legal Services in Australia - Market Research Report

Basis of Competition

Internal competition
External competition

Barriers to Entry

 Table: Barriers to Entry Checklist for the Legal Services in Australia - Market Research Report Industry

Industry Globalization

The Legal Services in Australia industry has no major companies. Get the full report to find out why.

Capital Intensity

The Legal Services industry exhibits low capital intensity. For every dollar spent on wages, the industry is expected to invest $0.08 in capital in the cu...
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 Chart: Level of Capital Intensity for the Legal Services in Australia - Market Research Report Industry
 Chart: Tools of the Trade: Growth Strategies for Success

Technology & Systems

Revenue Volatility

Chart: Volatility vs Industry Growth Chart: Volatility vs Industry Growth

Regulation & Policy

Industry Assistance

Table: Industry data Table: Industry Data for the Legal Services in Australia Industry

Industry Revenue (2007-2025)
Industry Gross Product (2007-2025)
Establishments (2007-2025)
Businesses (2007-2025)
Employment (2007-2025)
Exports (2007-2025)
Imports (2007-2025)
Wages (2007-2025)
Domestic Demand (2007-2025)

Table: Annual Percentage Change for Key Industry Data Table: Annual Percentage Change for Key Industry Data

Table: Key Ratios for Industry Key Dat Table: Key Ratios for Industry Key Data

Table: Industry Financial Ratios Table: Industry Financial Ratios

Liquidity Ratios
Coverage Ratios
Leverage Ratios
Operating Ratios
Cash Flow & Debt Service Ratios (% of Sales)
Assets, %
Liabilities, %

BARRISTER

CONVEYANCING

INCORPORATION

INTELLECTUAL PROPERTY

SOLICITOR

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Included in Report

  • Industry Financial Ratios
    Industry Financial Ratios
  • Revenue Forecasts
    Revenue Forecasts
  • Historical and Forecast Growth
    Historical and Forecast Growth
  • Industry Market Size
    Industry Market Size
  • Industry Major Players
    Industry Major Players
  • Profitability Analysis
    Profitability Analysis
  • SWOT Analysis
    SWOT Analysis
  • Industry Trends
    Industry Trends
  • Industry Operating Conditions
    Industry Operating Conditions
  • Porter's 5 Forces Analysis
    Porter's 5 Forces Analysis

Why buy this report on the Legal Services industry?

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  • Find out about key industry trends
  • Identify threats and opportunities
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This report on Legal Services in Australia:

  • Provides Market Size information to assist with planning and strategic decisions.
  • Includes the necessary information to perform SWOT, PEST and STEER analysis.
  • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
  • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.

The Legal Services in Australia market research report includes:

  • Historical data and analysis for the key drivers of this industry
  • A five-year forecast of the market and noted trends
  • Detailed research and segmentation for the main products and markets
  • An assessment of the competitive landscape and market shares for major companies
  • And of course, much more

IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Legal Services in Australia, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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