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Law Firms (NAICS 54111) Industry Market Research Report

Law Firms - Market Size and Forecast

The Law Firms report contains both historical and forecasted statistics. Total market size figures from 2015 to 2025 reveal industry growth patterns and trends. Market size measurements include both public and private companies in the industry.

HistoricalForecasted
20152016201720182019202020212022202320242025
Market Size (Total Revenue)

Included in Report

% Growth Rate
Number of Companies
Total Employees
Average Revenue per Company
Average Employees per Company
Source: U.S. government financial data.

Industry Revenue ($ Billions)

Law Firms Industry Revenue
  • 2015
  • 2016
  • 2017
  • 2018
  • 2019
  • 2020
  • 2021


Advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size includes revenue generated from all products and services sold within the industry.

Law Firms - Geographic Breakdown by U.S. State

Market size by state reveals local opportunity through the number of companies located in the region. Each state's growth rate is affected by regional economic conditions. Data by state can be used to pinpoint profitable and nonprofitable locations for Law Firms companies in the United States.

Law Firms Revenue by State

US Market Size by State

Distribution by Company Size

Company SizeAll IndustriesLaw Firms
Small Business (< 5 Employees)

Included

Small Business (5 - 20)
Midsized Business (20 - 100)
Large Business (100 - 500)
Enterprise (> 500)

Law Firms - Income Statement (Average Financial Metrics)

Financial statement analysis determines averages for the following industry forces:
The report includes a traditional income statement from an "average" company (both public and private companies included).

Industry AveragePercent of Sales
Total Revenue

Included

Operating Revenue
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses
Operating Income
Non-Operating Income
Earnings Before Interest and Taxes (EBIT)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit


Average Income Statement

Average Income Statement

Cost of Goods Sold

Salaries, Wages, and Benefits

Rent

Advertising

Depreciation and Amortization

Officer Compensation

Net Income


Law Firms - Financial Ratio Analysis

Financial ratios allow a company's performance to be compared against that of its peers.

Financial RatioIndustry Average
Profitability Ratios

Included

Profit Margin
ROE
ROA
Liquidity Ratios
Current Ratio
Quick Ratio
Activity Ratios
Average Collection Period
Asset Turnover Ratio
Receivables Turnover Ratio
Inventory Conversion Ratio

Law Firms - Product Mix

Product DescriptionDescriptionRevenue
($ Millions)
Industry total

Included

Legal services, civil law
Business & commercial law
Other civil law
Civil negligence
Real estate law
Labor & employment law
Wills, estates, and trusts
Legal services, criminal law
Family law

Law Firms - Compensation and Salary Surveys

TitlePercent of WorkforceBottom QuartileAverage (Median) SalaryUpper Quartile
Management Occupations2%

Included

Chief Executives0%
General and Operations Managers1%
Legal Occupations57%
Lawyers, Judges, and Related Workers34%
Lawyers and Judicial Law Clerks34%
Lawyers34%
Legal Support Workers23%
Paralegals and Legal Assistants20%
Paralegals and Legal Assistants20%
Office and Administrative Support Occupations35%
Secretaries and Administrative Assistants19%
Secretaries and Administrative Assistants19%
Legal Secretaries14%
Other Office and Administrative Support Workers5%

Government Contracts

In 2008, the federal government spent a total of $59,445,139 on the law firms industry. It has awarded 5,438 contracts to 380 companies, with an average value of $156,435 per company.

Law Firms and Adjacent Industries - Top Companies

CompanyAddressRevenue
($ Millions)

Included





Law Firms Industry Report
GeographyUnited States  
Publication DateSeptember 2020
Report FormatPDF Download  
Price$499.00

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