Legal Services in Australia

November 2020 | 43 pages | ID: L4F6DF0B815EN
MarketLine

Abstracts

Legal Services in Australia

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 Australian legal services market is expected to generate total revenues of $15.2bn in 2020, representing a compound annual growth rate (CAGR) of 1.8% between 2016 and 2020.
• Market volume is forecast to increase with a CAGR of 2.4% between 2016 and 2020, to reach a total of 78,700 legal professionals in 2020.
• Australia’s larger law firms are on track for another positive year in 2020 with earnings increasing despite the pandemic.

Scope

• 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

Reasons to Buy

• 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?

Contents

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. Which alternative legal services providers are competing with leading players?

8 COMPANY PROFILES

8.1. Herbert Smith Freehills
8.2. Linklaters LLP
8.3. Ashurst LLP
8.4. Minter Ellison Legal Group

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

LIST OF TABLES

Table 1: Australia legal services market value: $ billion, 2016-20(e)
Table 2: Australia legal services market volume: thousand legal professionals, 2016-20(e)
Table 3: Australia legal services market geography segmentation: $ billion, 2020(e)
Table 4: Australia legal services market value forecast: $ billion, 2020-25
Table 5: Australia legal services market volume forecast: thousand legal professionals, 2020-25
Table 6: Herbert Smith Freehills: key facts
Table 7: Herbert Smith Freehills: Key Employees
Table 8: Linklaters LLP: key facts
Table 9: Linklaters LLP: Key Employees
Table 10: Ashurst LLP: key facts
Table 11: Ashurst LLP: Key Employees
Table 12: Ashurst LLP: Key Employees Continued
Table 13: Ashurst LLP: Key Employees Continued
Table 14: Ashurst LLP: Key Employees Continued
Table 15: Minter Ellison Legal Group: key facts
Table 16: Minter Ellison Legal Group: Key Employees
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, 2015-19

List Of Figures

LIST OF FIGURES

Figure 1: Australia legal services market value: $ billion, 2016-20(e)
Figure 2: Australia legal services market volume: thousand legal professionals, 2016-20(e)
Figure 3: Australia legal services market geography segmentation: % share, by value, 2020(e)
Figure 4: Australia legal services market value forecast: $ billion, 2020-25
Figure 5: Australia legal services market volume forecast: thousand 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

COMPANIES MENTIONED

Herbert Smith Freehills
Linklaters LLP
Ashurst LLP
Minter Ellison Legal Group