Law Firms in the US
Participants in the Law Firms industry range from sole practitioners to full-service legal firms mostly serving corporate clients. Industry growth has been modest over the five years to 2018 as businesses expand and corporate profit increases. Over the five years to 2018, revenue is expected to increase at an annualized rate of 1.0% to $301.8 billion, including an increase of 0.8% in 2018. Industry revenue is projected to increase at an annualized rate of 0.6% to $310.4 billion over the five years to 2023. The overall performance of the economy, including an expected annualized growth of 2.4% in corporate profit and an influx of new laws and regulations will aid revenue growth over the next five years.
This industry comprises offices of legal practitioners, known as lawyers or attorneys, who primarily practice law. Establishments provide expertise on a range of areas or specific areas of law, such as criminal, corporate, family and estate, patent, real estate or tax.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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