Page 16 - Presentation - Amazonization of the Legal Profession (March 5, 2020)
P. 16
Appendix 3 – Law and Accounting Companies and Organizations
Global Legal Services
The $650 billion legal market is fragmented. The largest organizations are networks.
Law Practice bn= $ billion mn-$ million
50 Largest Networks $120 bn 50 Largest Law Firms $50 bn
Legal Products and Services
Wolters Kluwer $5.4 bn Thomson Reuters $5.5 bn
LexisNexis $2.8 bn Bloomberg BNA $472 mn
Law Companies – ALSPs – Total: $10.7 bn
Internet Companies
LegalZoom $200 mn Avvo No info
Global Accounting and Advisory Services
The accounting market is consolidated around the Big 4. Each has approximately 10%
of the $450 billion market.
Big 4 – Total: $146.4 bn
Deloitte $43.2 bn PWC $41.3 bn
EY $36.4 bn KPMG $29.0 bn
Networks and Associations – Total 25: $60 bn
GGI $5.3 bn BDO $8.3 bn
RSM $5.1 bn Grant Thornton $5.0 bn
Internet Companies - None
Online Companies
There are no large Ubers, Amazons or Googles in law or accounting. Amazon has just
founded a law firm IP network. Will the others follow?
Total Law Total Law
Amazon $252 bn New IBM 79.5 bn -
Microsoft 125 bn - Google 136 bn -
6
