GITNUX MARKETDATA REPORT 2024

Must-Know Legal Industry Statistics [Latest Report]

Statistic 1

"The global legal tech market generated 27.6 billion U.S. dollars in 2021, indicating its importance in the legal industry."

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Statistic 2

"Employment of lawyers is expected to grow 10% from 2021 to 2031, with an average of 48,700 openings per year."

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Statistic 3

"The median salary of a lawyer in the US in 2019 was $126,930, demonstrating the high-paying nature of the legal profession."

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Statistic 4

"The proportion of BAME lawyers working in law firms has increased from 14% in 2014 to 21% in 2017."

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Statistic 5

"The number of lawyers in the UK has increased by 47,200 from 2010 to 2022."

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Statistic 6

"The global legal tech market generated 27.6 billion U.S. dollars in 2021, indicating its importance in the legal industry."

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Statistic 7

"Most personal injury cases are settled outside of court, with only 5% going to trial"

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Statistic 8

"The legal services market is expected to grow at a compound annual growth rate (CAGR) of 6.52% from 2021 to 2028."

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Statistic 9

"86% of low-income Americans experiencing legal issues do not get adequate legal assistance due to unaffordability."

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Statistic 10

"The U.S. legal industry employs around 1.34 million people."

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Statistic 11

"Women make up approximately 37% of lawyers in the United States."

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Statistic 12

"Minority representation in the legal industry has increased from 5% in 1993 to around 14% in 2021."

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Statistic 13

"57% of legal departments cite cost reduction as a top priority."

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Statistic 14

"There are over 1.3 million licensed lawyers in the United States."

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Statistic 15

"According to the Bureau of Labor Statistics, the median annual wage for lawyers in the U.S was $126,930 in 2020."

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Statistic 16

"The average law firm overhead ratio is around 60%."

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Statistic 17

"The global legal process outsourcing market is expected to reach USD 27.19 billion by 2024."

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Statistic 18

"About 85% of law firms are using cloud technology."

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Statistic 19

"The global LegalTech market is predicted to be worth over $15.9 billion by 2023."

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Statistic 20

"Approximately 40% of legal professionals are using software for document automation."

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