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2018 Market Analysis & Industry Outlook: Law Firms

Overview: the U.S. Law Firms Industry

This section provides answers to key questions about the industry:

  1. What is the total market size (industry revenue)?
  2. What is the industry outlook?
  3. Market Analysis: Is the market growing or declining, and how quickly?
  4. Are long-term forecasts positive or negative?
  5. What is the average company size in the industry?
  6. How many companies are in the industry?

Market Size & Industry Statistics

The total U.S. industry market size for Law Firms: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

market size 2018
Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics 2012        2013        2014        2015        2016        2017
Market Size
(Total Sales/Revenue)

Order at top of page
Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Statistics Source: U.S. Census, AnythingResearch Market Analysis

Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.

market forecast

Forecast / Industry Outlook 2017 2018 2019 2020 2021 2022
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Product & Services Breakdown

Research products and services in the Law Firms industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Legal Services, Civil Law - Real Estate Law

Legal Services, Civil Law - Wills, Estates, And Trusts

Legal Services, Civil Law - Family Law

Legal Services, Civil Law - Business And Commercial Law

Legal Services, Civil Law - Business And Commercial Law - Bankruptcy Law

Legal Services, Civil Law - Business And Commercial Law - Intellectual Property Law

Legal Services, Civil Law - Business And Commercial Law - Taxation Law

Legal Services, Civil Law - Other Business And Commercial Law, Including Antitrust, Incorporation, Banking, Securities, And Insu

Legal Services, Civil Law - Civil Negligence

Legal Services, Civil Law - Labor And Employment Law

Legal Services - Other Civil Law

Legal Services - Other Civil Law - Environmental Law

Legal Services - Other Civil Law - Public And International

Legal Services - Other Civil Law - Health Care Law

Legal Services - Other Civil Law, Including Immigration/Refugee, Consumer, And Other Non-Criminal Law

Legal Services, Criminal Law

Arbitration And Mediation Services

Arbitration And Mediation Services, International Commercial

Arbitration And Mediation Services, Excluding International Commercial

Legal Research And Document Services

Title, Abstract, And Settlement Services

Patent, Copyright, And Other Intellectual Property Document Filing And Search Services

Other Document Filing And Search Services

Distributions From Law Partnerships To Professional Corporations/Associations

All Other Receipts

All Other Operating Receipts

U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Law Firms Industry Price Trends

Rise and fall in market prices are affectedd by supply, demand, and the cost of goods/services sold. Higher demand or COGS will put upward price pressure on prices. Higher competition among Law Firms companies will put a downward pressure on prices. The chart shows how prices are changing within the industry, month-to-month over the last three years.

example price index trendline

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Rent paid on business property
Charitable Contributions
Domestic production activities deduction
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Source: AnythingResearch Analysis of U.S. federal statistics

Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Law Firms company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Law Firms industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Law Firms measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.

Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.

Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.

Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 2%

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Chief Executives0%
General and Operations Managers1%
Legal Occupations 55%
Lawyers, Judges, and Related Workers 34%
Lawyers and Judicial Law Clerks 34%
Lawyers 34%
Legal Support Workers 21%
Paralegals and Legal Assistants 18%
Paralegals and Legal Assistants 18%
Office and Administrative Support Occupations 38%
Secretaries and Administrative Assistants 21%
Secretaries and Administrative Assistants 21%
Legal Secretaries 16%
Other Office and Administrative Support Workers 5%
Source: Bureau of Labor Statistics

Law Firms Industry Market Share [PREMIUM]

Largest companies in the industry and related industries, with private company revenue estimates.

CompanyAddressRevenue Estimate

Innovation News

  • Parsons Behle & Latimer trademarks "PARSONS BEHLE LAB" - Non downloadable software for the preparation of documents; providing general legal information via a website - 03/03/2018
  • Gavin Law Offices PLC trademarks "GLO ALLIANCE IP AWARE CERTIFICATION" - Business consulting services in the fields of marketing, finance, management, and/or technology - 03/03/2018
  • Littler Mendelson P.C. trademarks "LITTLER PAY EQUITY ASSESSMENT" - Business auditing; Business data analysis; Business data analysis services in the field of employee compensation; Human resource analysis and consulting services; Outsource service provider in the field of business analytics; Preparation of business reports - 03/03/2018
  • Peacock & Myers patents Cabinet For Dispensing Items - 03/16/2017
  • Patterson Thuente Pedersen P.a. patents System For Computerized Evaluation Of Patent-related Information - 02/16/2017
  • Parkowski Guerke & Swayze P.a. patents Electrical Safety Heater - 02/16/2017
  • Delivery Agent raises $80 million in funding. - 08/22/2014
  • Andre Blaustein Kill & Mccarthy raises $15 million in funding. - 02/04/2014
  • Ramey & Flock A Professional raises $3 million in funding. - 12/23/2013

  • Top Innovators

    CompanyInnovation Score
    Rocket Lawyer12
    Schwegman Lundberg & Woessner P.a.11
    Peacock & Myers
    Alliance Defending Freedom
    Yee & Dubin Sports

    Additional companies, details and innovation scoring in the full report.

    Latest Industry News

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    • Texas Firm Will Renew the Hunt for MH370 - A private Texas firm will renew the search for the wreckage of Malaysia Airlines Flight 370, which disappeared over the Indian Ocean in March 2014 with 239 people on board. Malaysia will pay the Houston-based Ocean Infinity between $20 million and $70 ... (01/10/2018)
    • U.S. law firm accuses Ford of rigging trucks to cheat emission tests - A U.S. law firm accused Ford Motor Co of rigging its F-250 and F-350 Super Duty trucks with emissions-cheating devices to ensure they passed tests, according to a lawsuit filed on Wednesday. Continue Reading Below The automaker manipulated the emissions ... (01/10/2018)
    • Malaysia to pay firm up to $70M if it finds missing plane - PUTRAJAYA, Malaysia (AP) — Malaysia's government said Wednesday it will pay U.S. company Ocean Infinity up to $70 million if it can find the wreckage or black boxes of Malaysia Airlines Flight 370 within three months, in a renewed bid to solve the plane ... (01/10/2018)
    • Apple to hand off Chinese iCloud operations to local firm in February - Chinese iCloud customers have been notified that Apple will transfer operations of its cloud storage service to the local firm Guizhou on the Cloud Big Data (GCBD) starting next month. Apple announced the partnership with GCBD last year and claims the ... (01/10/2018)
    • Iran firm says there may be survivors from tanker crash - TEHRAN, Iran – The Iranian company whose oil tanker burst into flames after a collision in the East China Sea says there is still hope of finding survivors. Mohsen Bahrami, a spokesman for National Iranian Tanker Co., said late on Tuesday that rescuers ... (01/10/2018)
    • Huge stakes in Texas firm's hunt for missing Malaysian Airlines Flight 370 - PUTRAJAYA, Malaysia-- Malaysia's government said Wednesday it will pay U.S. company Ocean Infinity up to $70 million if it can find the wreckage or black boxes of Malaysia Airlines Flight 370 within three months, in a renewed bid to solve the plane's ... (01/10/2018)
    • Research Firm: Trump-Russia Dossier Author Worried About Blackmail - The head of a research firm that hired a former British spy to investigate Donald Trump during his campaign for president told a U.S. Senate committee that the investigator gave a dossier about Trump to the Federal Bureau of Investigation because he was ... (01/10/2018)
    • Use iCloud in China? Prepare to share your data with a state-run firm - Users of Apple's iCloud services in China are being forced to share their data with a state-run Chinese company. Apple (AAPL) flagged the change to customers this week, advising them to read the terms and conditions of an agreement that hands operations of ... (01/10/2018)

    Government Contracts

    In 2016, the federal government spent a total of $59,445,139 on Law Firms. It has awarded 5,438 contracts to 380 companies, with an average value of $156,435 per company.   

    Top government vendors:

    CompanyFederal ContractsTotal Award Amount

    Segments classified within this market research report

    This industry market research report includes companies whose primary business is any of the following:
    Law firms, Barristers' offices, Corporate law offices, Patent attorneys' offices, Tax law attorneys' offices, Family law offices, Real estate law offices, Law offices, Estate law offices, Solicitors' private practices, Counselors' at law private practices, Criminal law offices, Counselors' at law offices, Legal aid services, Lawyers' private practices, Attorneys' private practices, Solicitors' offices, private, Barristers' private practices, Tax law attorneys' private practices, Law practices, Lawyers' offices, Patent attorneys' private practices, Attorneys' offices, etc.

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