Law Firms in the US - Industry Market Research Report

Law Firms in the US - Industry Market Research Report

  • July 2021 •
  • 42 pages •
  • Report ID: 199070 •
  • Format: PDF
Law abiding: Strengthening business activity and corporate profit will help drive growth

Abstract

Law Firms in the US
Operators 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 have expanded and corporate profit has increased. As the economy improved during the current period, the industry has benefited from increased corporate activity. In addition, increased merger and acqusition activity is expected to benefit the industry further over the coming years. However, corporate litigation has failed to grow significantly in recent years, which will likely continue to temper industry revenue growth. Overall, industry revenue has increased during the current period. Over the five years to 2024, industry revenue is forecast to continue to expand. The overall performance of the economy, including projected growth in corporaet profit, will likely aid revenue growth over the next five years.

This industry comprises offices of legal practitioners, known as lawyers or attorneys, who primarily practice law. Operators 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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