GITNUX MARKETDATA REPORT 2024

Must-Know Law Industry Statistics [Recent Analysis]

Statistic 1

"Minority lawyers make up about 16.4% of the U.S. legal profession."

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Statistic 2

"The U.S. legal services market is expected to grow 2.5% annually through 2025."

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Statistic 3

"Female lawyers accounted for 37.4% of the legal industry workforce in 2020."

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Statistic 4

"Approximately 1 out of 3 U.S. lawyers work in private practice."

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Statistic 5

"eDiscovery spending in the legal market was estimated to be $11.2 billion in 2020."

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Statistic 6

"A mere 15.2% of equity partners in law firms are women."

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Statistic 7

"Corporate clients spend an average of $18 billion annually on legal services."

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Statistic 8

"Alternative Legal Service Providers (ALSPs) hold a market share of 5.6% in the legal industry as of 2021."

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Statistic 9

"Document review can constitute up to 45% of the total cost of litigation."

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Statistic 10

"About 23% of attorneys now use outsourced legal services."

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Statistic 11

"Over 1.3 million lawyers are currently licensed to practice in the United States."

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Statistic 12

"Around 70% of law firms see technology adoption as an essential aspect of their growth strategy."

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Statistic 13

"The employment of lawyers is projected to grow 4% from 2019 to 2029, about as fast as the average for all occupations."

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Statistic 14

"Nearly 64% of consumers use online platforms to find a lawyer."

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Statistic 15

"Revenue of top 100 U.S. law firms reached $111 billion in 2019."

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Statistic 16

"By 2020, there were more than 47,000 law firms in the U.S."

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Statistic 17

"Over the past decade, legal tech investments have grown by over 713%."

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Statistic 18

"The global legal services market is projected to reach $1,011 billion by 2021 from $849 billion in 2016, at a compound annual growth rate (CAGR) of 3.7%."

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Statistic 19

"About 23% of law firm revenue comes from corporate law."

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Statistic 20

"The legal industry is one of the top 5 industries targeted by cyberattacks."

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