BTI Consulting (Consultant to Fortune 1000 Companies): The U.S. legal market is valued at more than $100 billion according to BTI Consulting, which specializes in research and consulting for Fortune 1000 companies.
Richard Granat (ABA Legal Rebel, CEO of SmartLegalForms.com): Richard Granat estimates the U.S. legal market to be around $145 billion, highlighting the significant latent market for legal services that remains untapped.
Joshua Kubicki (Chief Strategy Officer, Legal Transformation Institute): Joshua Kubicki valued the U.S. legal marketplace at $400 billion in an article on his Legal Transformation Institute website in early 2014, indicating a broad and encompassing valuation of the market.
Industry Revenue (2013-2018): In 2013, the entire U.S. legal services industry generated $256.66 billion. This figure was projected to increase to $288 billion by 2018, showcasing steady growth within the sector.
U.S. Labor Department: The legal services sector employs approximately 1,139,900 people, reflecting a large and dynamic workforce. This growth has led to more firms hiring technology professionals to enhance their online marketing strategies.
American Bar Association (ABA):There are more than 76,000 personal injury lawyers in the United States, most of whom are part of law firms with 50 or fewer lawyers, underscoring the fragmented and diverse nature of the legal market.
Market Growth and Trends: The U.S. legal market has experienced continuous growth, driven by increasing demand for legal services, technological advancements, and the expanding role of in-house legal departments within corporations.
Tech Adoption in Legal Services: With the rise of legal tech, law firms are increasingly investing in digital solutions to improve efficiency, client service, and marketing reach. This trend is expected to further drive the growth and transformation of the legal market.
Global Comparison: The U.S. legal market is one of the largest in the world, often compared to significant legal markets in countries like the United Kingdom, which also has a substantial legal services industry.
These statistics provide a comprehensive overview of the size and scope of the U.S. legal market, reflecting its importance and ongoing evolution in the face of new challenges and opportunities.
The Size of the U.S. Legal Market: Key Statistics
BTI Consulting (Consultant to Fortune 1000 Companies): The U.S. legal market is valued at more than $100 billion according to BTI Consulting, which specializes in research and consulting for Fortune 1000 companies. Source: BTI Consulting
Richard Granat (ABA Legal Rebel, CEO of SmartLegalForms.com): Richard Granat estimates the U.S. legal market to be around $145 billion, highlighting the significant latent market for legal services that remains untapped. Source: Richard Granat Presentation
Joshua Kubicki (Chief Strategy Officer, Legal Transformation Institute): Joshua Kubicki valued the U.S. legal marketplace at $400 billion in an article on his Legal Transformation Institute website in early 2014, indicating a broad and encompassing valuation of the market. Source: Legal Transformation Institute
Industry Revenue (2013-2018): In 2013, the entire U.S. legal services industry generated $256.66 billion. This figure was projected to increase to $288 billion by 2018, showcasing steady growth within the sector. Source: Statista
U.S. Labor Department: The legal services sector employs approximately 1,139,900 people, reflecting a large and dynamic workforce. This growth has led to more firms hiring technology professionals to enhance their online marketing strategies. Source: U.S. Bureau of Labor Statistics
American Bar Association (ABA): There are more than 76,000 personal injury lawyers in the United States, most of whom are part of law firms with 50 or fewer lawyers, underscoring the fragmented and diverse nature of the legal market. Source: American Bar Association
Market Growth and Trends: The U.S. legal market has experienced continuous growth, driven by increasing demand for legal services, technological advancements, and the expanding role of in-house legal departments within corporations. Source: Law.com
Tech Adoption in Legal Services: With the rise of legal tech, law firms are increasingly investing in digital solutions to improve efficiency, client service, and marketing reach. This trend is expected to further drive the growth and transformation of the legal market. Source: ABA Journal
Global Comparison: The U.S. legal market is one of the largest in the world, often compared to significant legal markets in countries like the United Kingdom, which also has a substantial legal services industry. Source: LegalWeek
These statistics provide a comprehensive overview of the size and scope of the U.S. legal market, reflecting its importance and ongoing evolution in the face of new challenges and opportunities.