Australia Legal Services Market Summary, Competitive Analysis and Forecast, 2017-2026
Summary
Legal Services in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-21, and forecast to 2026). 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 had total revenues of $16.6 billion in 2021, representing a compound annual growth rate (CAGR) of 1.7% between 2016 and 2021.
- Market production volume increased with a CAGR of 3.7% between 2016 and 2021, to reach a total of 85,600,000 practitioners of law in 2021.
- 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 2021?
- What will be the size of the Australia legal services market in 2026?
- 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 significant deals for the leading players?
- 8 Company Profiles
- 8.1. Minter Ellison Legal Group
- 8.2. Herbert Smith Freehills
- 8.3. 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, 2016-21
- Table 2: Australia legal services market volume: thousand practitioners of law, 2016-21
- Table 3: Australia legal services market geography segmentation: $ billion, 2021
- Table 4: Australia legal services market value forecast: $ billion, 2021-26
- Table 5: Australia legal services market volume forecast: thousand practitioners of law, 2021-26
- 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: 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: Australia size of population (million), 2017-21
- Table 16: Australia gdp (constant 2005 prices, $ billion), 2017-21
- Table 17: Australia gdp (current prices, $ billion), 2017-21
- Table 18: Australia inflation, 2017-21
- Table 19: Australia consumer price index (absolute), 2017-21
- Table 20: Australia exchange rate, 2017-21
- List of Figures
- Figure 1: Australia legal services market value: $ billion, 2016-21
- Figure 2: Australia legal services market volume: thousand practitioners of law, 2016-21
- Figure 3: Australia legal services market geography segmentation: % share, by value, 2021
- Figure 4: Australia legal services market value forecast: $ billion, 2021-26
- Figure 5: Australia legal services market volume forecast: thousand practitioners of law, 2021-26
- Figure 6: Forces driving competition in the legal services market in Australia, 2021
- Figure 7: Drivers of buyer power in the legal services market in Australia, 2021
- Figure 8: Drivers of supplier power in the legal services market in Australia, 2021
- Figure 9: Factors influencing the likelihood of new entrants in the legal services market in Australia, 2021
- Figure 10: Factors influencing the threat of substitutes in the legal services market in Australia, 2021
- Figure 11: Drivers of degree of rivalry in the legal services market in Australia, 2021
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