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Legal Activities in Hungary - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

HU-M691 March 2024 Factsheet

Revenue

€893.9m

2019-2024 3.1 %
2024-2029 X.X %

Employees

11,273

2019-2024 2.0 %
2024-2029 X.X %

Businesses

11,273

2019-2024 2.4 %
2024-2029 X.X %

Wages

€XXX.Xm

2019-2024 X.X %
2024-2029 X.X %

Legal Activities in Hungary market size outlook

Total value and annual change from from 2014-2029. Includes 5-year outlook.

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About Factsheets

Industry Statistics and Rankings

How does this industry perform in Hungary compared to Europe?

Country Benchmarking

Industry Data Hungary

Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.

Revenue
#22 In Europe
Business
#14 In Europe
Employees
#19 In Europe
Wages
#22 In Europe

View industry report for Europe

The European legal services industry is in a phase of consolidation, signified by a surge in both intranational and international M&A activity. Challenging economic conditions have hindered demand for legal services, particularly from the corporate market. Demand for countercyclical services has limited a slump in revenue, with law firms advising on restructuring and insolvency issues. Industry revenue is projected to contract at a compound annual rate of 4.1% to €208.3 billion over the five years through 2024.

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Enterprises
Number of businesses in 2024

Biggest companies in the Legal Activities in Hungary

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024
Noerr Partnerschaftsgesellschaft mbB
336.0
136.0
40.5

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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 Hungary in 2024?

The market size of the Legal Activities industry in Hungary is €893.9m in 2024.

How many businesses are there in the Legal Activities in Hungary industry in 2024?

There are 11,273 businesses in the Legal Activities industry in Hungary, which has grown at a CAGR of 2.4 % between 2019 and 2024.

Has the Legal Activities industry in Hungary grown or declined over the past 5 years?

The market size of the Legal Activities industry in Hungary has been declining at a CAGR of 3.1 % between 2019 and 2024.

What is the forecast growth of the Legal Activities industry in Hungary over the next 5 years?

Over the next five years, the Legal Activities industry in Hungary is expected to grow.

What are the biggest companies in the Legal Activities market in Hungary?

The biggest company operating in the Legal Activities market in Hungary is Noerr Partnerschaftsgesellschaft mbB

What does the Legal Activities in Hungary include?

Advising on corporate law and Advising on personal law are part of the Legal Activities industry.

Which companies have the highest market share in the Legal Activities in Hungary?

The company holding the most market share in Hungary is Noerr Partnerschaftsgesellschaft mbB.

How competitive is the Legal Activities industry in Hungary?

The level of competition is low and steady in the Legal Activities industry in Hungary.

Related Industries

This industry is covered in 37 countries

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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&AIPOPATENT

What'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 law

Companies

Noerr Partnerschaftsgesellschaft mbB

Industry Code

ISIC 2006

691 - Legal activities in Hungary

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Performance

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
  • Employees
  • Business
  • Profit
Analysis

What's driving current industry performance in the Legal Activities in Hungary industry?


Outlook

Analysis

What's driving the Legal Activities in Hungary industry outlook?


Volatility

Analysis

What influences volatility in the Legal Activities in Hungary industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Legal Activities in Hungary 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.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Legal Activities in Hungary industry's products and services performing?

Analysis

What are innovations in the Legal Activities in Hungary industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Legal Activities in Hungary industry?


International Trade

Highlights

  • Total Imports into Hungary
  • Total Exports into Hungary
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)

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.

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Supply Chain

Charts

Buyer and supply industries

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Establishments by Region (2024)
Data Tables
  • Number of Establishments by Region (2024)
Charts
  • Share of Establishments vs. Population of Each Region
Analysis

What regions are businesses in the Legal Activities in Hungary located?

Companies

Data Tables

Top 1 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit margin (2024)

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.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Legal Activities in Hungary 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.

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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 Hungary 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. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.