Operators in the Law Firms industry range from sole practitioners to large, full-service legal firms mostly serving corporate clients. Industry revenue growth has been modest over the past five years. The industry benefited from economic growth through most of the period but was negatively affected by the coronavirus. Overall, industry revenue increased at a CAGR of 1.6% to $397.1 billion over the past five years, including an increase of 0.7% in 2023 alone. 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.Not guilty: Smaller law firms are set to benefit from increased per capita disposable income
Table of Contents
ABOUT THIS INDUSTRY
INDUSTRY PERFORMANCE
PRODUCTS & MARKETS
COMPETITIVE LANDSCAPE
OPERATING CONDITIONS
KEY STATISTICS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Latham & Watkins LLP
- Sidley Austin Llp
- Eversheds Sutherland
- Greenberg Traurig LLP
- Baker & Hostetler Llp
- Hogan Lovells International LLP
- Wilmer Cutler Pickering Hale and Dorr LLP
- Simpson Thacher & Bartlett
- Goodwin Procter LLP
- Alston & Bird Llp
- K&L Gates LLP
- Clark Hill Plc
- Davis Polk & Wardell
- Covington & Burling LLP
- Buchanan Ingersoll & Rooney Pc
- Jones Day
- Jones Day Limited Partnership
- Jenner & Block
- Mayer Brown
- Holland & Knight LLP
- Fragomen, Del Rey, Bernsen and Loewy LLP
- Akerman LLP
- Berry Appleman & Leiden LLP
- Lowenstein Sandler LLP
- Dinsmore & Shohl
- Haynes and Boone LLP
- McCarter & English LLP
- Jams Inc.
- Baker Botts LLP
- Epstein Becker & Green PC
- Paul, Weiss, Rifkind, Wharton & Garrison
- Kramer Levin Naftalis & Frankel Llp
- Gibbons
- Barst Mukamal & Kleiner LLP
- Benach Collopy LLP
- Cyrus D. Mehta and Partners PLLC
Methodology
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