Legal eagles: Businesses' ongoing demand for law services helps industry revenue soar

The Legal Services industry has displayed strong growth 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. 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 law is relatively low.Industry revenue is expected to increase at an annualised 3.0% over the five years through 2018-19, to $3.8 billion. This includes anticipated growth of 1.8% in the current year. Revenue growth has generally been steady yearly, largely due to the range of legal services the industry provides, and the wide client base requiring these more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The industry has faced greater competition from in-house counsel teams over the past five years
  • The number of law firms entering the industry has grown steadily over the past five years
  • The industry is projected to continue facing increased external competition from in-house counsels
  • Industry Report - Industry SWOT Analysis Chapter

    The Legal Services industry is in the mature stage of its economic life cycle. Industry value added, a measure of the industry's contribution to the overall economy, is forecast to increase at an annualised 1.8% over the 10 years through 2023-24. This represents an underperformance of New Zealand's GDP, which is forecast to grow by an annualised of 2.9% over the period. As a range of downstream markets uses legal services, demand generally follows economic growth, which is indicative of a mature industry. However, growing external competition from in-house counsel is anticipated to partially constrain growth, as some prominent industry clients have employed more legal staff to reduce their need for the industry's services...purchase to read more.

    Additional Insights for the Legal Services Industry

    IBISWorld has determined the most important Key Success Factors for the Legal Services 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 housing transfers and Business confidence index 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 firms 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 preparing legal documents. The industry does not include services provided by in-house legal teams.

    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
  • Commercial law services
  • Property law services
  • Personal and workplace injury law services
  • Family law services
  • Intellectual property law services
  • Industrial relations law services
  • Criminal law services
  • Other legal 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 housing transfers
  • Business confidence index
  • Level of criminal activity
  • Number of divorces
  • Total capital expenditure

  • 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, 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
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • 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
  • One or more legal specialists 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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    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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