Legal eagles: Business clients' ongoing demand for law services has boosted industry revenue

The Legal Service industry has performed relatively well over the past five years. This has been due to steady growth in demand for a range of legal services from clients and downstream markets, and due to some pricing growth as wages have grown. A high portion of industry revenue comes from commercial law services and legal assistance provided in relation to property matters. In contrast, industry revenue generated through criminal and family law is relatively low.Over the five years through 2017-18, industry revenue is expected to increase at an annualised 2.5% to reach $3.5 billion, including growth of 3.1% in the current year...read more.

Industry Statistics & Market Size
Revenue
$3bn
Annual Growth 13-18
2.5%
Forecast Growth 18-23
Profit
Employment
14,700
Businesses
3,829
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Report - Industry Analysis Chapter

The Legal Services industry has grown at a steady rate over the past five years. The public and private sectors’ continued demand for a range of legal services has boosted industry revenue growth. The industry has also benefited from favourable economic and operating conditions over the past five years. However, rising wages and the threat from increased use of in-house counsels within large client organisations are expected to weaken profit margins and hinder revenue growth over the five years through 2017-18.Revenue and profitIndustry revenue is expected to increase at an annualised 2.5% over the five years through 2017-18. This includes anticipated growth of 3.1% in the current year, with revenue reaching $3.5 billion. Str...purchase to read more.

Additional Insights for the Legal Services Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Legal Services Industry are

  • Ability to effectively communicate and negotiate
  • Access to a highly skilled workforce
  • Providing client confidentiality
  • IBISWorld analysts also discuss how external factors such as Number of businesses and Population in the Legal Services industry impact industry performance..

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    What's in this report

    What is the Legal Services in New Zealand Industry?

    Industry organisations provide a range of legal services to clients, including commercial, property, personal injury, family, intellectual property and criminal law services. These services include legal representation and advice, and the preparation of legal documents.

    Industry Products
  • Commercial law services
  • Property law services
  • Other law services
  • Personal injury legal services
  • Family law services
  • Intellectual property law services
  • Industrial relations law services
  • Criminal law services
  • Industry Activities
  • Providing commercial law services
  • Providing property law services
  • Providing personal injury law services
  • Providing family law services
  • Providing intellectual property law services
  • Providing industrial relations law services
  • Providing criminal law services
  • Providing other legal services
  • Providing solicitor, lawyer, barrister and notary services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of businesses
  • Population
  • Total capital expenditure
  • Business confidence index
  • Dwelling commencements

  • Current Performance
  • Revenue and profit
  • Industry growth drivers
  • Rising competition
  • Enterprises and employment
  • Chart: Revenue Growth

  • Industry Outlook
  • Moderate revenue gains
  • Opportunities and threats
  • Industry structure
  • Table: Legal Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Legal Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Construction in New Zealand
  • Real Estate Services in New Zealand
  • Banking in New Zealand
  • Consumers in New Zealand

  • Key Selling Industries
  • Computer and Computer Peripheral Wholesaling in New Zealand
  • Legal Services in New Zealand
  • Real Estate Services in New Zealand

  • Products & Services
  • Commercial law services
  • Property law services
  • Other law services
  • Personal injury legal services
  • Family law services
  • Intellectual property law services
  • Industrial relations law services
  • Criminal law services
  • Chart: Legal Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Banking, finance and insurance firms
  • Property operators and developers
  • Governments and regulators
  • Households
  • Other sectors and clients
  • Health and technology firms
  • Chart: Major Market Segmentation for the Legal Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Rent
  • Purchases, depreciation and utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Legal Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Legal Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Legal Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Legal Services Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Barrister
  • A lawyer that specialises in representing clients in court.
  • Conveyancing
  • Legal work carried out for the transfer real estate and property ownership.
  • In-House Counsel
  • A lawyer or legal specialist employed by a company or government agency to provide legal advice and services to management.
  • Solicitor
  • A lawyer that represents clients in a range of legal matters. Solicitors generally brief barristers when complex advocacy work is required.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Legal Services in New Zealand market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Legal Services in New Zealand:
    • 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 New Zealand 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 New Zealand, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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