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Law Firms in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Law Firms Market Research Report | NAICS 54111 | Mar 2013

Above the law: Firms will cut costs and change business models to boost demand

The Law Firms market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$297bn
Annual Growth 08-13
1.1%
Annual Growth 13-18
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Profit
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Employment
1,433,850
Businesses
429,000
Industry Analysis & Industry Trends

Hit hard by the financial crisis and the dismal economy, many major firms will look to international expansion and M&A activity to boost profitability. Despite an increase in demand, clients will be hesitant to spend for overpriced services; instead, they will increasingly demand alternative-pricing plans to bring the cost of service further in line with the value it provides. Over the next five years, the cost reductions firms implemented during the recession and M&A activity among participants will help escalate the industry's recovery and raise profitability... purchase to read more

Industry Report - Industry Locations Chapter

The Southeast region accounts for the greatest proportion of law firm offices, in line with its share of population. The Mid-Atlantic region, which includes New York and Washington DC, is home to many of the largest firms where lawyers earn above-average salaries.

Southeast

IBISWorld estimates that the Southeast region accounts for 26.2% of industry establishments. The region also represents an estimated 23.0% of industry employees and 19.6% of industry wages. On average, the region has fewer employees per establishment relative to the national average, and employee wages are generally less than the average. Florida has a dominant presence in the region, accounting for more than one-third of industry establishments and wages in the Southeast... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Law Firms Industry?

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

Industry Products
Commercial law servicesPersonal injury law servicesProperty law servicesIntellectual property and trademark law servicesOther services
 
Industry Activities
Providing criminal law servicesProviding corporate law servicesProviding family law servicesProviding estate law servicesProviding intellectual property law servicesProviding real estate law servicesProviding tax law servicesProviding commercial law servicesProviding personal injury servicesProviding property law services


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