Industry Statistics and Rankings
How does this industry perform in Lithuania compared to Europe?
Country Benchmarking
Industry Data Lithuania
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#26 In EuropeBusiness
#18 In EuropeEmployees
#25 In EuropeWages
#30 In EuropeThe 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.
Enterprises
Number of businesses in 2024
Biggest companies in the Legal Activities in Lithuania
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Legal Activities in Lithuania industry for IBISWorld to include in this product.
Top Questions Answered in this Report
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What is the market size of the Legal Activities industry in Lithuania in 2024?
The market size of the Legal Activities industry in Lithuania is €422.3m in 2024.
How many businesses are there in the Legal Activities in Lithuania industry in 2024?
There are 5,601 businesses in the Legal Activities industry in Lithuania, which has grown at a CAGR of 5.0 % between 2019 and 2024.
Has the Legal Activities industry in Lithuania grown or declined over the past 5 years?
The market size of the Legal Activities industry in Lithuania has been declining at a CAGR of 1.8 % between 2019 and 2024.
What is the forecast growth of the Legal Activities industry in Lithuania over the next 5 years?
Over the next five years, the Legal Activities industry in Lithuania is expected to grow.
What does the Legal Activities in Lithuania include?
Advising on corporate law and Advising on personal law are part of the Legal Activities industry.
How competitive is the Legal Activities industry in Lithuania?
The level of competition is low and steady in the Legal Activities industry in Lithuania.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
Complementors
- Direct Real Estate Activities in Lithuania
- Third-Party Real Estate Activities in Lithuania
- Accounting & Auditing in Lithuania
- Management Consultants in Lithuania
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
Industry Code
691 - Legal activities in Lithuania
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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 Lithuania industry?
Outlook
Analysis
What's driving the Legal Activities in Lithuania industry outlook?
Volatility
Analysis
What influences volatility in the Legal Activities in Lithuania industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Legal Activities in Lithuania 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 Lithuania industry's products and services performing?
Analysis
What are innovations in the Legal Activities in Lithuania industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Legal Activities in Lithuania industry?
International Trade
Highlights
- Total Imports into Lithuania
- Total Exports into Lithuania
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.
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 Lithuania located?
Companies
Data Tables
Top 0 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.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Legal Activities in Lithuania 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 Lithuania 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.
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