United States (US) Legal Services Market Summary, Competitive Analysis and Forecast to 2028
Summary
Legal Services in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). 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 US legal services market recorded revenues of $357.8 billion in 2023, representing a compound annual growth rate (CAGR) of 3.6% between 2018 and 2023.
- Market consumption volume increased with a CAGR of 1% between 2018 and 2023, to reach a total of 1,200.4 thousand personnel in 2023.
- As per GlobalData, the US held 48.0% stake in the global legal services market in 2023.
- 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 2023?
- What will be the size of the United States legal services market in 2028?
- 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 strategies do the leading players follow?
- 7.3. What are the recent developments in the market?
- 8 Company Profiles
- 8.1. Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
- 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, 2018-23
- Table 2: United States legal services market geography segmentation: $ billion, 2023
- Table 3: United States legal services market value forecast: $ billion, 2023-28
- Table 4: Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates: key facts
- Table 5: Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates: Key Employees
- Table 6: Baker & McKenzie LLP: key facts
- Table 7: Baker & McKenzie LLP: Key Employees
- Table 8: Baker & McKenzie LLP: Key Employees Continued
- Table 9: Baker & McKenzie LLP: Key Employees Continued
- Table 10: Baker & McKenzie LLP: Key Employees Continued
- Table 11: Kirkland & Ellis LLP: key facts
- Table 12: Kirkland & Ellis LLP: Key Employees
- Table 13: Latham & Watkins LLP: key facts
- Table 14: Latham & Watkins LLP: Key Employees
- Table 15: United States size of population (million), 2019-23
- Table 16: United States gdp (constant 2005 prices, $ billion), 2019-23
- Table 17: United States gdp (current prices, $ billion), 2019-23
- Table 18: United States inflation, 2019-23
- Table 19: United States consumer price index (absolute), 2019-23
- Table 20: United States exchange rate, 2019-23
- List of Figures
- Figure 1: United States legal services market value: $ billion, 2018-23
- Figure 2: United States legal services market geography segmentation: % share, by value, 2023
- Figure 3: United States legal services market value forecast: $ billion, 2023-28
- Figure 4: Forces driving competition in the legal services market in the United States, 2023
- Figure 5: Drivers of buyer power in the legal services market in the United States, 2023
- Figure 6: Drivers of supplier power in the legal services market in the United States, 2023
- Figure 7: Factors influencing the likelihood of new entrants in the legal services market in the United States, 2023
- Figure 8: Factors influencing the threat of substitutes in the legal services market in the United States, 2023
- Figure 9: Drivers of degree of rivalry in the legal services market in the United States, 2023
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