Making a case: Large firms have increased their marketing to court new business

The Personal and Workplace Injury Lawyers industry has grown slowly over the past five years. Improving safety procedures and regulation enforcement by Safe Work authorities has reduced the work accident rate, negatively affecting demand for industry firms. A structural shift in the economy away from the manufacturing sector towards white-collar employment has also decreased workplace risk over the period. Motor vehicle fatalities have also been declining for the past 30 years due to increased car safety and more stringent road safety policies. This has led to a decline in claims related to motor vehicle accident fatalities...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
0.6%
Forecast Growth 18-23
Profit
Employment
8,649
Businesses
2,135

Industry Threats & Opportunities

  • A shift to white-collar employment has reduced workplace risk, negatively affecting the industry
  • Decreases in the work accident rate and the number of fatal vehicle accidents has limited growth
  • The number of vehicle accident deaths and workplace accidents are anticipated to continue declining
  • Industry Report - Industry Investment Chapter

    The Personal and Workplace Injury Lawyers industry exhibits low capital intensity as the industry is highly labour-intensive. In 2017-18, IBISWorld estimates that for every dollar spent on wages, the industry invests $0.06 in capital. The industry is mainly serviced based, employing highly qualified staff to provide advice and litigation services. This causes industry wage costs to be high relative to depreciation costs. Investment in technology has risen over the past five years as firms have streamlined and enhanced administrative systems to increase their efficiency and reduce costs. Technology is also used to interact more effectively with clients. However, the industry still relies on face-to-face client contact and tailored solutions from solicitors or barristers. As ...purchase to read more.

    Additional Insights for the Personal and Workplace Injury Lawyers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Personal and Workplace Injury Lawyers Industry are

  • Having a good reputation
  • Access to highly skilled workforce
  • Having a high profile in the market
  • IBISWorld analysts also discuss how external factors such as Number of vehicle accident deaths and Work accident rate per 1,000 employees in the Personal and Workplace Injury Lawyers industry impact industry performance..

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    What's in this report

    What is the Personal and Workplace Injury Lawyers Industry?

    Firms in the industry provide legal services relating to personal and work-related injuries.

    Industry Products
  • Motor vehicle accidents
  • Workplace injuries
  • Other personal injury claims
  • Industry Activities
  • Legal advice services
  • Litigation 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 vehicle accident deaths
  • Work accident rate per 1,000 employees
  • Number of motor vehicles
  • Total number of non-manual employees in the workforce

  • Current Performance
  • Vehicle accidents
  • Workplace injury
  • Brand awareness
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand factors
  • Marketing and fees
  • Industry structure
  • Table: Personal and Workplace Injury Lawyers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Personal and Workplace Injury Lawyers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Advertising Agencies
  • Custody, Trustee and Stock Exchange Services
  • Office Property Operators
  • University and Other Higher Education

  • Products & Services
  • Other personal injury claims
  • Motor vehicle accidents
  • Workplace injuries
  • Chart: Personal and Workplace Injury Lawyers Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged 35 to 54
  • People aged 35 and under
  • People aged 55 and over
  • Chart: Major Market Segmentation for the Personal and Workplace Injury Lawyers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Personal and Workplace Injury Lawyers

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Personal and Workplace Injury Lawyers Industry

  • Industry Globalization
    Slater & Gordon Ltd, Maurice Blackburn Pty Limited, Shine Corporate Ltd,
  • Table: Slater & Gordon Ltd - financial performance
  • Table: Maurice Blackburn Pty Limited - financial performance
  • Table: Shine Corporate Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Personal and Workplace Injury Lawyers 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 Personal and Workplace Injury Lawyers 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 who has the authority to represent a client in court.
  • Safe Work Australia
  • An Australian government statutory body established to develop national policy relating to work health and safety and workers’ compensation.
  • Solicitor
  • A lawyer who provides legal advice to a client and briefs a barrister if the matter goes to court.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Personal and Workplace Injury Lawyers 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 Personal and Workplace Injury Lawyers:
    • 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 Personal and Workplace Injury Lawyers 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 Personal and Workplace Injury Lawyers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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