Legal Services in the United States

November 2020 | 45 pages | ID: L0F6BE89A10EN
MarketLine

Abstracts

Legal Services in the United States

Summary

Legal Services in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• The legal services market includes practitioners of law operating in every sector of the legal spectrum. These include, but are not limited to, commercial, criminal, legal aid, insolvency, labor/industrial, family and taxation law.
• The US legal services market is expected to generate total revenues of $310.2bn in 2020, representing a compound annual growth rate (CAGR) of 2.1% between 2016 and 2020.
• Market volume is forecast to decline with a compound annual rate of change (CARC) of 0% between 2016 and 2020, to reach a total of 1.12 million legal professionals in 2020.
• Demand for legal services was cut short during 2020 as companies reduced their legal spend in response to economic difficulties caused by the COVID-19 pandemic.

Scope

• Save time carrying out entry-level research by identifying the size, growth, and leading players in the legal services market in the United States
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the legal services market in the United States
• Leading company profiles reveal details of key legal services market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the United States legal services market with five year forecasts by both value and volume

Reasons to Buy

• What was the size of the United States legal services market by value in 2020?
• What will be the size of the United States legal services market in 2025?
• What factors are affecting the strength of competition in the United States legal services market?
• How has the market performed over the last five years?
• How large is the United States’s legal services market in relation to its regional counterparts?

Contents

1 EXECUTIVE SUMMARY

1.1. Market value
1.2. Market value forecast
1.3. Market volume
1.4. Market volume forecast
1.5. Geography segmentation
1.6. Market rivalry
1.7. Competitive Landscape

2 MARKET OVERVIEW

2.1. Market definition
2.2. Market analysis

3 MARKET DATA

3.1. Market value
3.2. Market volume

4 MARKET SEGMENTATION

4.1. Geography segmentation

5 MARKET OUTLOOK

5.1. Market value forecast
5.2. Market volume forecast

6 FIVE FORCES ANALYSIS

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 COMPETITIVE LANDSCAPE

7.1. Who are the leading players?
7.2. What strategies do the leading players follow?
7.3. Which alternative legal services providers are competing with leading players?

8 COMPANY PROFILES

8.1. Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
8.2. Kirkland & Ellis LLP
8.3. Baker & McKenzie LLP
8.4. Latham & Watkins LLP

9 MACROECONOMIC INDICATORS

9.1. Country data

10 APPENDIX

10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine

List Of Tables

LIST OF TABLES

Table 1: United States legal services market value: $ billion, 2016-20(e)
Table 2: United States legal services market volume: thousand legal professionals, 2016-20(e)
Table 3: United States legal services market geography segmentation: $ billion, 2020(e)
Table 4: United States legal services market value forecast: $ billion, 2020-25
Table 5: United States legal services market volume forecast: thousand legal professionals, 2020-25
Table 6: Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates: key facts
Table 7: Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates: Key Employees
Table 8: Kirkland & Ellis LLP: key facts
Table 9: Kirkland & Ellis LLP: Key Employees
Table 10: Baker & McKenzie LLP: key facts
Table 11: Baker & McKenzie LLP: Key Employees
Table 12: Baker & McKenzie LLP: Key Employees Continued
Table 13: Baker & McKenzie LLP: Key Employees Continued
Table 14: Baker & McKenzie LLP: Key Employees Continued
Table 15: Latham & Watkins LLP: key facts
Table 16: Latham & Watkins LLP: Key Employees
Table 17: United States size of population (million), 2016-20
Table 18: United States gdp (constant 2005 prices, $ billion), 2016-20
Table 19: United States gdp (current prices, $ billion), 2016-20
Table 20: United States inflation, 2016-20
Table 21: United States consumer price index (absolute), 2016-20
Table 22: United States exchange rate, 2015-19

List Of Figures

LIST OF FIGURES

Figure 1: United States legal services market value: $ billion, 2016-20(e)
Figure 2: United States legal services market volume: thousand legal professionals, 2016-20(e)
Figure 3: United States legal services market geography segmentation: % share, by value, 2020(e)
Figure 4: United States legal services market value forecast: $ billion, 2020-25
Figure 5: United States legal services market volume forecast: thousand legal professionals, 2020-25
Figure 6: Forces driving competition in the legal services market in the United States, 2020
Figure 7: Drivers of buyer power in the legal services market in the United States, 2020
Figure 8: Drivers of supplier power in the legal services market in the United States, 2020
Figure 9: Factors influencing the likelihood of new entrants in the legal services market in the United States, 2020
Figure 10: Factors influencing the threat of substitutes in the legal services market in the United States, 2020
Figure 11: Drivers of degree of rivalry in the legal services market in the United States, 2020

COMPANIES MENTIONED

Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
Kirkland & Ellis LLP
Baker & McKenzie LLP
Latham & Watkins LLP