Industry Statistics and Trends
Legal Activities in Europe key trends
In-house legal teams are heightening competition for law firms.
Despite this, large corporations still significantly invest in high-quality, specialised legal advice, ensuring stable demand for law firms.
Law firms will invest more in advanced tech to boost efficiency.
Technologies like AI and machine learning will become more prevalent as they reduce time taken on repetitive tasks and allow staff to focus on more value-added services.
COVID-19 hurt business sentiment and curtailed dealmaking.
Although M&A activity collapsed during the height of the COVID-19 outbreak, heightened restructuring, insolvency and bankruptcy activity, which require legal services, has supported demand for countercyclical services, limiting revenue decline.
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Legal Activities in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Legal Activities in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 4.1 % over the past five years, to reach an estimated €208.3bn in 2024.
Trends and Insights
The European legal services industry is consolidating, highlighted by intranational and international M&A
- Europe’s legal industry remains highly fragmented due largely to country-specific laws betting the scope of operations.
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Legal Activities in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
Subsiding economic woes will support business activity, driving demand for legal services
- An improving economic climate and falling inflation will push demand for commercial legal services, with growing business sentiment driving M&A activity and IPOs in Europe. This creates the need for legal practitioners to draft and examine legal documents during consolidations.
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Revenue
€208.3bn
Employees
2m
Wages
€XX.Xbn
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
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Biggest companies in the Legal Activities in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Linklaters LLP | 2,282.7 | 996.5 | 43.7 | |
Noerr Partnerschaftsgesellschaft mbB | 336.0 | 136.0 | 40.5 | |
Hengeler Mueller Partnerschaft von Rechtsanwalten mbB | 320.0 | 127.0 | 39.7 |
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Legal Activities in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Legal Activities industry in Europe in 2024?
The market size of the Legal Activities industry in Europe is €208.3bn in 2024.
How many businesses are there in the Legal Activities in Europe industry in 2024?
There are 901k businesses in the Legal Activities industry in Europe, which has grown at a CAGR of 3.5 % between 2019 and 2024.
Has the Legal Activities industry in Europe grown or declined over the past 5 years?
The market size of the Legal Activities industry in Europe has been declining at a CAGR of 4.1 % between 2019 and 2024.
What is the forecast growth of the Legal Activities industry in Europe over the next 5 years?
Over the next five years, the Legal Activities industry in Europe is expected to grow.
What does the Legal Activities in Europe include?
Advising on corporate law and Advising on personal law are part of the Legal Activities industry.
Which countries have the most businesses in the Legal Activities industry in Europe?
The European country with the most businesses in the Legal Activities industry is Italy.
How competitive is the Legal Activities industry in Europe?
The level of competition is high and increasing in the Legal Activities industry in Europe.
Related Industries
This industry is covered in 37 countries
- Legal Activities in Greece
- Legal Activities in Romania
- Legal Activities in Norway
- Legal Activities in Poland
- Legal Activities in Cyprus
- Legal Activities in Estonia
- Legal Activities in Iceland
- Legal Activities in Europe
- Legal Activities in Austria
- Legal Activities in France
- Legal Activities in Lithuania
- Legal Activities in the Netherlands
- Legal Activities in Switzerland
- Legal Activities in Finland
- Legal Activities in Slovenia
- Legal Activities in Bulgaria
- Legal Activities in Luxembourg
- Legal Activities in Russia
- Legal Activities in Slovakia
- Legal Activities in Italy
- Legal Activities in Sweden
- Legal Activities in Turkey
- Legal Activities in Latvia
- Legal Activities in Bosnia & Herzegovina
- Legal Activities in Spain
- Legal Activities in Portugal
- Legal Activities in Serbia
- Legal Activities in Belgium
- Legal Activities in Hungary
- Legal Activities in Czechia
- Legal Activities in Denmark
- Legal Activities in Malta
- Legal Activities in Croatia
Table of Contents
About this industry
Industry definition
Industry firms provide legal advice and representation before courts and other judicial bodies, in relation to civil and criminal matters and labour disputes. They are also involved in drawing up legal documents like deeds, wills and trusts, as well as commercial and intellectual property documents including articles of incorporation, copyright and patents.
Related Terms
M&AIPOPATENTWhat's included in this industry?
Advising on corporate lawAdvising on personal lawAdvising on property lawAdvising on administrative and constitutional lawAdvising on employment lawAdvising on criminal lawAdvising on intellectual property lawAdvising on immigration and nationality lawCompanies
Linklaters LLPNoerr Partnerschaftsgesellschaft mbBHengeler Mueller Partnerschaft von Rechtsanwalten mbBIndustry Code
691 - Legal activities in Europe
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Performance
Key Takeaways
The European legal services industry is consolidating, highlighted by intranational and international M&A
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Legal Activities in Europe industry (2011 -2029)
- Employees in the Legal Activities in Europe industry (2011 -2029)
- Business in the Legal Activities in Europe industry (2011 -2029)
- Profit in the Legal Activities in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Legal Activities in Europe industry?
Outlook
Analysis
What's driving the Legal Activities in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Legal Activities in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Legal Activities in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Volatile economic conditions weaken corporate law demand. Since 2022, severe inflation and geopolitical tensions in Europe have subdued M&A activity and IPOs, hindering demand for corporate law advising.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Legal Activities in Europe industry's products and services performing?
Analysis
What are innovations in the Legal Activities in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Legal Activities in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
There are many small law firms operating alongside larger players. Lots of legal service providers decide to serve a specific region or to specialise in one service, enabling them to make a profit.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 4 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for Linklaters LLP
- Countries of operation for Noerr Partnerschaftsgesellschaft mbB
- Countries of operation for Hengeler Mueller Partnerschaft von Rechtsanwalten mbB
- Countries of operation for Fidal SELAS
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Law firms face stringent regulations. To carry out industry services and practice law, employees must be qualified and follow the relevant standards of conduct in specific European countries.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Legal Activities in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Despite economic challenges and inflation, legal services maintain healthy profitability. This is due to their high markup, reputable firms' involvement in high-profile cases and efficient use of technologies like AI and cloud-based services.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Legal Activities in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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