Legal Services in the United States

Introduction

Legal Services in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2006-10, and forecast to 2015). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the United States legal services market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*The legal services market includes practitioners of law operating in every sector of the legal spectrum. These include commercial, criminal, legal aid, insolvency, labor/industrial, family and taxation law. The market's value is calculated as the total revenues received by law companies for services rendered. These values include all applicable taxes. Market volumes in this report refer to the total number of legal professionals. All currency conversions are calculated at constant average annual 2010 exchange rates.

*The US legal services market had total revenues of $240.3 billion in 2010, representing a compound annual growth rate (CAGR) of 0.4% between 2006 and 2010.

*The number of legal professionals increased with a CAGR of 0.8% between 2006 and 2010, to reach a total of 1,141,484 in 2010.

*The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.5% for the five-year period 2010 - 2015, which is expected to drive the market to a value of $299.5 billion by the end of 2015.

Features

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

Macroeconomic indicators provide insight into general trends within the United States economy

Key Questions Answered

What was the size of the United States legal services market by value in 2010?

What will be the size of the United States legal services market in 2015?

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?
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TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET VOLUME 11
MARKET SEGMENTATION 12
FIVE FORCES ANALYSIS 13
Summary 13
Buyer power 14
Supplier power 15
New entrants 16
Substitutes 17
Rivalry 18
LEADING COMPANIES 19
Baker and McKenzie 19
Jones Day 23
Latham and Watkins LLP 26
Skadden, Arps, Slate, Meagher & Flom LLP 28
MARKET FORECASTS 30
Market value forecast 30
Market volume forecast 31
MACROECONOMIC INDICATORS 32
APPENDIX 34
Methodology 34
Industry associations 35
Related Datamonitor research 35
Disclaimer 36
ABOUT DATAMONITOR 37
Premium Reports 37
Summary Reports 37
Datamonitor consulting 37

LIST OF TABLES
Table 1: United States legal services market value: $ billion, 2006–10 10
Table 2: United States legal services market volume: thousand units, 2006–10 11
Table 3: United States legal services market segmentation: % share, by value, 2010 12
Table 4: Baker and McKenzie: key facts 19
Table 5: Jones Day: key facts 23
Table 6: Latham and Watkins LLP: key facts 26
Table 7: Skadden, Arps, Slate, Meagher & Flom LLP: key facts 28
Table 8: United States legal services market value forecast: $ billion, 2010–15 30
Table 9: United States legal services market volume forecast: thousand units, 2010–15 31
Table 10: United States size of population (million), 2006–10 32
Table 11: United States gdp (constant 2000 prices, $ billion), 2006–10 32
Table 12: United States gdp (current prices, $ billion), 2006–10 32
Table 13: United States inflation, 2006–10 33
Table 14: United States consumer price index (absolute), 2006–10 33
Table 15: United States exchange rate, 2006–10 33

LIST OF FIGURES
Figure 1: United States legal services market value: $ billion, 2006–10 10
Figure 2: United States legal services market volume: thousand units, 2006–10 11
Figure 3: United States legal services market segmentation: % share, by value, 2010 12
Figure 4: Forces driving competition in the legal services market in the United States, 2010 13
Figure 5: Drivers of buyer power in the legal services market in the United States, 2010 14
Figure 6: Drivers of supplier power in the legal services market in the United States, 2010 15
Figure 7: Factors influencing the likelihood of new entrants in the legal services market in the United States, 2010 16
Figure 8: Factors influencing the threat of substitutes in the legal services market in the United States, 2010 17
Figure 9: Drivers of degree of rivalry in the legal services market in the United States, 2010 18
Figure 10: United States legal services market value forecast: $ billion, 2010–15 30
Figure 11: United States legal services market volume forecast: thousand units, 2010–15 31


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