From 2013 to 2023, the turnover of legal services in Germany has demonstrated a general uptrend, increasing from 19.94 billion euros to 32.23 billion euros. This rise signifies robust market growth despite some fluctuations.
The most notable growth happened between 2014 and 2018, with significant year-on-year increases, peaking in 2016 (12%) and 2018 (11.59%). However, the market experienced a slight downturn in 2020 (-4.26%) likely due to global economic factors. Since then, the growth rate has stabilized, with a moderate average annual growth rate of 1.9% in recent years.
The projected future CAGR from 2024 to 2028 is estimated at 2.22%, reflecting a more modest but steady increase, highlighting continued demand for legal services. This results in an overall forecasted market size of 37.06 billion euros by 2028.
Trends to watch for in the future include:
- Impact of digital transformation on legal practices
- Increasing demand for compliance and regulatory services
- Growing importance of cybersecurity and data protection law
- Changing client preferences and the rise of alternative legal service providers
