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Legal Services in Australia - Industry Market Research Report

Publisher IBISWorld
Published Feb 24, 2023
Length 40 Pages
SKU # IBSS17835075

Description

Legal Services in Australia - Industry Market Research Report

Legal Services in Australia

Legal service providers have faced mixed conditions over the past few years. Business confidence has been volatile over the period, prompting varied demand from downstream markets. Uncertain economic conditions have contributed to constrained demand for value-added services, like legal work relating to expansionary activity and IPOs as clients have sought to limit discretionary spending. On the flip side economic headwinds have boosted the need for restructuring and insolvency expertise. Constant legal requirements for downstream businesses have stabilised fluctuations in demand. Overall, industry revenue is expected to rise at an annualised 2.6% over the five years through 2022-23, to $29.6 billion. This trend includes a decline of 1.8% increase in the current year, with mixed demand from the finance sector, and a cooling housing market.

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.

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.

Table of Contents

40 Pages
TABLE OF CONTENTS

ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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