Legal Services in Australia - Market Summary, Competitive Analysis and Forecast to 2025
Summary
Legal Services in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The legal services market includes practitioners of law operating in every sector of the legal spectrum. These include, but are not limited to, commercial, criminal, legal aid, insolvency, labor/industrial, family and taxation law. The legal services market includes practitioners of law operating in every sector of the legal spectrum. These include, but are not limited to, commercial, criminal, legal aid, insolvency, labor/industrial, family and taxation law.
- The Australian legal services market had total revenues of $15.0bn in 2020, representing a compound annual growth rate (CAGR) of 1.8% between 2016 and 2020.
- Market production volume increased with a CAGR of 4% between 2016 and 2020, to reach a total of 83,600 legal professionals in 2020.
- Market growth over the past five years has been inhibited by fluctuating business conditions, weak growth in household income, and increasing price sensitivity among clients.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the legal services market in Australia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the legal services market in Australia
- Leading company profiles reveal details of key legal services market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Australia legal services market with five year forecasts
- What was the size of the Australia legal services market by value in 2020?
- What will be the size of the Australia legal services market in 2025?
- What factors are affecting the strength of competition in the Australia legal services market?
- How has the market performed over the last five years?
- What are the main segments that make up Australia's legal services market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Market volume
- 1.4. Market volume forecast
- 1.5. Geography segmentation
- 1.6. Market rivalry
- 1.7. Competitive Landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 3.2. Market volume
- 4 Market Segmentation
- 4.1. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 5.2. Market volume forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What strategies do the leading players follow?
- 7.3. What alternative legal services providers are competing with leading players?
- 7.4. What are the recent developments for the leading players?
- 8 Company Profiles
- 8.1. Minter Ellison Legal Group
- 8.2. Herbert Smith Freehills
- 8.3. Linklaters LLP
- 8.4. Ashurst LLP
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Australia legal services market value: $ billion, 2016-20
- Table 2: Australia legal services market volume: thousand number of legal professionals, 2016-20
- Table 3: Australia legal services market geography segmentation: $ billion, 2020
- Table 4: Australia legal services market value forecast: $ billion, 2020-25
- Table 5: Australia legal services market volume forecast: thousand number of legal professionals, 2020-25
- Table 6: Minter Ellison Legal Group: key facts
- Table 7: Minter Ellison Legal Group: Key Employees
- Table 8: Herbert Smith Freehills: key facts
- Table 9: Herbert Smith Freehills: Key Employees
- Table 10: Linklaters LLP: key facts
- Table 11: Linklaters LLP: Key Employees
- Table 12: Ashurst LLP: key facts
- Table 13: Ashurst LLP: Key Employees
- Table 14: Ashurst LLP: Key Employees Continued
- Table 15: Ashurst LLP: Key Employees Continued
- Table 16: Ashurst LLP: Key Employees Continued
- Table 17: Australia size of population (million), 2016-20
- Table 18: Australia gdp (constant 2005 prices, $ billion), 2016-20
- Table 19: Australia gdp (current prices, $ billion), 2016-20
- Table 20: Australia inflation, 2016-20
- Table 21: Australia consumer price index (absolute), 2016-20
- Table 22: Australia exchange rate, 2016-20
- List of Figures
- Figure 1: Australia legal services market value: $ billion, 2016-20
- Figure 2: Australia legal services market volume: thousand number of legal professionals, 2016-20
- Figure 3: Australia legal services market geography segmentation: % share, by value, 2020
- Figure 4: Australia legal services market value forecast: $ billion, 2020-25
- Figure 5: Australia legal services market volume forecast: thousand number of legal professionals, 2020-25
- Figure 6: Forces driving competition in the legal services market in Australia, 2020
- Figure 7: Drivers of buyer power in the legal services market in Australia, 2020
- Figure 8: Drivers of supplier power in the legal services market in Australia, 2020
- Figure 9: Factors influencing the likelihood of new entrants in the legal services market in Australia, 2020
- Figure 10: Factors influencing the threat of substitutes in the legal services market in Australia, 2020
- Figure 11: Drivers of degree of rivalry in the legal services market in Australia, 2020
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