Legal Services in the United States
Summary
Legal Services in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Legal services market refers to the industry that involves professionals and firms offering legal counsel, support, and representation in different areas of law. Industry scope covers a wide range of legal fields such as commercial, criminal, family, labor, taxation, insolvency, legal aid, and other specialized areas, catering to the diverse needs of clients seeking legal support. Market value refers to the revenue generated by law firms in a year for the services they provide, including all relevant taxes. Market volume represents the total number of legal professionals in a country during a specific year.
- The US legal services market recorded revenues of $422.7 billion in 2024, representing a compound annual growth rate (CAGR) of 6.4% between 2019 and 2024.
- Market consumption volume increased with a CAGR of 0.6% between 2019 and 2024, to reach a total of 1,188.4 thousand personnel in 2024.
- According to GlobalData, the US accounted for 88.6% of the North American legal services market in 2024.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the legal services market in the United States
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the legal services market in the United States
- 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 United States legal services market with five year forecasts
- What was the size of the United States legal services market by value in 2024?
- What will be the size of the United States legal services market in 2029?
- What factors are affecting the strength of competition in the United States legal services market?
- How has the market performed over the last five years?
- What are the main segments that make up the United States's legal services market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Geography segmentation
- 1.4. Market rivalry
- 1.5. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Geography segmentation
- 5 Market Outlook
- 5.1. Market value 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 are the strengths of the leading players?
- 7.3. How are ALSPs creating competition for traditional legal service providers?
- 8 Company Profiles
- 8.1. DLA Piper LLP (US)
- 8.2. Baker & McKenzie LLP
- 8.3. Kirkland & Ellis LLP
- 8.4. Latham & Watkins 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: United States legal services market value: $ billion, 2019-24
- Table 2: United States legal services market geography segmentation: $ billion, 2024
- Table 3: United States legal services market value forecast: $ billion, 2024-29
- Table 4: DLA Piper LLP (US): Key Facts
- Table 5: DLA Piper LLP (US): Key Employees
- Table 6: DLA Piper LLP (US): Key Employees Continued
- Table 7: DLA Piper LLP (US): Key Employees Continued
- Table 8: Baker & McKenzie LLP: Key Facts
- Table 9: Baker & McKenzie LLP: Key Employees
- Table 10: Baker & McKenzie LLP: Key Employees Continued
- Table 11: Baker & McKenzie LLP: Key Employees Continued
- Table 12: Baker & McKenzie LLP: Key Employees Continued
- Table 13: Kirkland & Ellis LLP: Key Facts
- Table 14: Kirkland & Ellis LLP: Key Employees
- Table 15: Latham & Watkins LLP: Key Facts
- Table 16: Latham & Watkins LLP: Key Employees
- Table 17: United States Size of Population (Million), 2020-24
- Table 18: United States Real GDP (Constant 2010 Prices, $ Billion), 2020-24
- Table 19: United States GDP (Current Prices, $ Billion), 2020-24
- Table 20: United States Inflation, 2020-24
- Table 21: United States Consumer Price Index (Absolute), 2020-24
- Table 22: United States Exchange Rate, 2019-24
- List of Figures
- Figure 1: United States legal services market value: $ billion, 2019-24
- Figure 2: United States legal services market geography segmentation: % share, by value, 2024
- Figure 3: United States legal services market value forecast: $ billion, 2024-29
- Figure 4: Forces driving competition in the legal services market in the United States, 2024
- Figure 5: Drivers of buyer power in the legal services market in the United States, 2024
- Figure 6: Drivers of supplier power in the legal services market in the United States, 2024
- Figure 7: Factors influencing the likelihood of new entrants in the legal services market in the United States, 2024
- Figure 8: Factors influencing the threat of substitutes in the legal services market in the United States, 2024
- Figure 9: Drivers of degree of rivalry in the legal services market in the United States, 2024
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