Summary
Legal Services in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Synopsis
Essential resource for top-line data and analysis covering the United States legal services market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Key Highlights
- The legal services market includes practitioners of law operating in every sector of the legal spectrum. These include commercial, criminal, legal aid, insolvency, labor/industrial, family and taxation law.
- The US legal services market had total revenues of $289.7bn in 2016, representing a compound annual growth rate (CAGR) of 1.7% between 2012 and 2016.
- Market consumption volume increased with a CAGR of 0.1% between 2012 and 2016, to reach a total of 1.3 million legal professionals in 2016.
- One of the major barriers to entry is differing requirements from state to state. California, for instance, maintains its own rules on gaining access to the local market, making it harder to expand.
Scope
- Save time carrying out entry-level research by identifying the size, growth, 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 by both value and volume
Reasons to buy
- What was the size of the United States legal services market by value in 2016?
- What will be the size of the United States legal services market in 2021?
- 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?
- How large is the United States’s legal services market in relation to its regional counterparts?
Companies Mentioned
Baker & McKenzie LLP
Kirkland & Ellis LLP
Latham & Watkins LLP
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
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Table of Contents
Executive Summary
Market value
Market value forecast
Market volume
Market volume forecast
Geography segmentation
Market rivalry
Market Overview
Market definition
Market analysis
Market Data
Market value
Market volume
Market Segmentation
Geography segmentation
Market Outlook
Market value forecast
Market volume forecast
Five Forces Analysis
Summary
Buyer power
Supplier power
New entrants
Threat of substitutes
Degree of rivalry
Leading Companies
Baker & McKenzie LLP
Kirkland & Ellis LLP
Latham & Watkins LLP
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
Macroeconomic Indicators
Country data
Methodology
Industry associations
Related MarketLine research
Appendix
About MarketLine
List of Tables
Table 1: United States legal services market value: $ billion, 2012–16
Table 2: United States legal services market volume: thousand legal professionals, 2012–16
Table 3: United States legal services market geography segmentation: $ billion, 2016
Table 4: United States legal services market value forecast: $ billion, 2016–21
Table 5: United States legal services market volume forecast: thousand legal professionals, 2016–21
Table 6: Baker & McKenzie LLP: key facts
Table 7: Kirkland & Ellis LLP: key facts
Table 8: Latham & Watkins LLP: key facts
Table 9: Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates: key facts
Table 10: United States size of population (million), 2012–16
Table 11: United States gdp (constant 2005 prices, $ billion), 2012–16
Table 12: United States gdp (current prices, $ billion), 2012–16
Table 13: United States inflation, 2012–16
Table 14: United States consumer price index (absolute), 2012–16
Table 15: United States exchange rate, 2012–15
List of Figures
Figure 1: United States legal services market value: $ billion, 2012–16
Figure 2: United States legal services market volume: thousand legal professionals, 2012–16
Figure 3: United States legal services market geography segmentation: % share, by value, 2016
Figure 4: United States legal services market value forecast: $ billion, 2016–21
Figure 5: United States legal services market volume forecast: thousand legal professionals, 2016–21
Figure 6: Forces driving competition in the legal services market in the United States, 2016
Figure 7: Drivers of buyer power in the legal services market in the United States, 2016
Figure 8: Drivers of supplier power in the legal services market in the United States, 2016
Figure 9: Factors influencing the likelihood of new entrants in the legal services market in the United States, 2016
Figure 10: Factors influencing the threat of substitutes in the legal services market in the United States, 2016
Figure 11: Drivers of degree of rivalry in the legal services market in the United States, 2016
