Report

2021 Australia:
State of the
Legal Market

Thomson Reuters presents  2021 Australia: State of the Legal Market, a data-led report for leaders at law firms and legal departments.

The report has revealed that despite remarkable recovery in the past year, firms must now make “big strategic decisions” on how to deploy technology to lock-in opportunities for future growth. 

Key features of report findings 

The 2021 Australia: State of the Legal Market report shows results for FY 2021, which ended June 30 – a period that covers both the downturn during the depths of the pandemic in 2020, and the emerging recovery in 2021. Access your copy for market insights covering: 

  • Law firm performance: Learn how the market is performing through a number of metrics tracked by Thomson Reuters Peer Monitor.  
  • Law firm profitability: Technology and remote working may explain some of the financial results we are seeing in the legal market. Thomson Reuters Peer Monitor takes a look at expenses and revenue growth, and growth in worked rates. 
  • Talent trends in the legal profession: The report delves into lateral movement seen among partner titles at Australian-based law firms. Rigorous data analysis by Alpha Creates offers which practice areas are “competitive hotspots” for partner talent. 
  • Client feedback: Firms who focus on key areas are likely to gain quick wins in client satisfaction. The report highlights the “stand out” advisory skills noted by corporate buyers of legal services.  
  • “Headwinds” and “tailwinds”: What are the major forces at play impacting the legal sector? From the “headwinds”, “tailwinds” to internal operations, the report addresses key areas of consideration. 

Discover why the region’s law firms are being called a “beacon of innovation” – download your complimentary copy of the 2021 Australia: State of the Legal Market today.  

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