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Australia Legal Services Market Summary, Competitive Analysis and Forecast to 2028

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    Report

  • 38 Pages
  • February 2024
  • Region: Australia
  • MarketLine
  • ID: 5714998
Legal Services in Australia 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 Australian legal services market recorded revenues of $16.2 billion in 2023, representing a compound annual growth rate (CAGR) of 0.5% between 2018 and 2023.
  • Market consumption volume increased with a CAGR of 4.1% between 2018 and 2023, to reach a total of 94.0 thousand personnel in 2023.
  • As per GlobalData analysis, the Australian legal services market accounts for a 14.0% share of the Asia-Pacific market.

Scope

  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the legal services market in Australia
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the legal services market in Australia
  • 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 Australia legal services market with five year forecasts

Reasons to Buy

  • What was the size of the Australia legal services market by value in 2023?
  • What will be the size of the Australia legal services market in 2028?
  • What factors are affecting the strength of competition in the Australia legal services market?
  • How has the market performed over the last five years?
  • What are the main segments that make up Australia's legal services market?

Table of Contents

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. Minter Ellison Legal Group
8.2. Herbert Smith Freehills
8.3. Ashurst LLP
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related Research
10.4. About the Publisher
List of Tables
Table 1: Australia legal services market value: $ billion, 2018-23
Table 2: Australia legal services market geography segmentation: $ billion, 2023
Table 3: Australia legal services market value forecast: $ billion, 2023-28
Table 4: Minter Ellison Legal Group: key facts
Table 5: Minter Ellison Legal Group: Key Employees
Table 6: Herbert Smith Freehills: key facts
Table 7: Herbert Smith Freehills: Key Employees
Table 8: Ashurst LLP: key facts
Table 9: Ashurst LLP: Key Employees
Table 10: Ashurst LLP: Key Employees Continued
Table 11: Ashurst LLP: Key Employees Continued
Table 12: Australia size of population (million), 2019-23
Table 13: Australia gdp (constant 2005 prices, $ billion), 2019-23
Table 14: Australia gdp (current prices, $ billion), 2019-23
Table 15: Australia inflation, 2019-23
Table 16: Australia consumer price index (absolute), 2019-23
Table 17: Australia exchange rate, 2019-23
List of Figures
Figure 1: Australia legal services market value: $ billion, 2018-23
Figure 2: Australia legal services market geography segmentation: % share, by value, 2023
Figure 3: Australia legal services market value forecast: $ billion, 2023-28
Figure 4: Forces driving competition in the legal services market in Australia, 2023
Figure 5: Drivers of buyer power in the legal services market in Australia, 2023
Figure 6: Drivers of supplier power in the legal services market in Australia, 2023
Figure 7: Factors influencing the likelihood of new entrants in the legal services market in Australia, 2023
Figure 8: Factors influencing the threat of substitutes in the legal services market in Australia, 2023
Figure 9: Drivers of degree of rivalry in the legal services market in Australia, 2023

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Minter Ellison Legal Group
  • Herbert Smith Freehills
  • Ashurst LLP