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Law Firms in the US - Industry Market Research Report

Law Firms in the US - Industry Market Research Report

  • February 2019
  • 35 pages
  • ID: 199070
  • Format: PDF
  • By Ibisworld

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Due process: Rising business activity and disposable income will bolster industry growth

Abstract

Law Firms in the US
Participants in the Law Firms industry range from sole practitioners to full-service legal firms mostly serving corporate clients. Industry growth has been modest over the five years to 2019 as businesses expand and corporate profit increases. As the economy continues to improve, the industry will benefit from increased corporate activity. Increasing mergers and acquisitions (M&As) as well as strength in initial public offerings (IPOs) will continue to improve revenue for the industry’s top firms, which receive the bulk of their revenue from major corporate clients. Industry revenue is projected to increase over the five years to 2024. The overall performance of the economy, including growth in corporate profit and an influx of new laws and regulations, will aid revenue growth over the next five years.

This industry comprises offices of legal practitioners, known as lawyers or attorneys, who primarily practice law. Establishments provide expertise on a range of areas or specific areas of law, such as criminal, corporate, family and estate, patent, real estate or tax.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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