In the complex realm of the legal industry, wrongful death lawyers represent a unique and critical service to society. These legal professionals, known for their expertise in civil litigation, concentrate on cases where a person's death is alleged to be the result of another's negligence or misconduct. In this industry report, we delve deeper into the significant findings and crucial insights that define the wrongful death lawyers' industry.

Let's begin by understanding the term 'wrongful death'. Rooted in the concept of 'tort law', wrongful death refers to a situation wherein an individual's demise results from the negligent or intentional act of another. The relevancy of this term is explicit as it forms the cornerstone of the legal actions undertaken by wrongful death lawyers.

With a comprehensive understanding of the term, let's move on to the essential market trends shaping the wrongful death lawyers' arena. The wrongful death law landscape has been witnessing substantial evolution over the years. One notable trend is the increasing use of technology for case management, document storage, legal research, and communication. This shift could potentially revolutionize the industry, enabling more efficient case handling and improving client-lawyer interactions.

However, the digitization paradigm does not come without its trade-offs. While it presents a potential for efficiency-maximization, it also poses challenges concerning data security and privacy. As legal professionals deal with sensitive information, the need for a robust cybersecurity framework is paramount, making this a critical area of focus.

From a temporal perspective, the rise in wrongful death lawsuits has been observed over the past decades. This isn't an arbitrary occurrence but stems from the societal shift towards increased accountability and the heightened awareness of individuals' rights. It is an interesting manifestation of the societal evolution of justice perceptions.

Geographically, the industry’s landscape varies significantly. With varying state laws and regulations governing wrongful death cases, lawyers must possess a deep understanding of their jurisdiction's legal nuances. This point brings us to the 'how' of the industry – the process adopted by wrongful death lawyers to carry out their professional duties.

The process begins with an initial investigation to determine the viability of a case. This involves liaising with medical experts, accident reconstruction experts, and forensic experts, establishing the negligence or misconduct that led to the death. After the case's establishment, lawyers navigate the labyrinth of legal procedures, arguing in court, if necessary, to procure justice for their clients.

Economic theories, in particular, the Coase Theorem, provide an interesting lens to look at the wrongful death lawyers' industry. The Coase Theorem posits that in a world with no transaction costs, the allocation of resources will be efficient, irrespective of property rights. However, in the real world, transaction costs exist, and lawyers help in reducing these costs, thereby facilitating an efficient allocation of resources.

The importance of wrongful death lawyers cannot be overstated. Their role extends beyond their individual cases; they help shape societal norms around negligence and responsibility. They contribute to the development of a society that values life and holds individuals accountable for their actions.

To conclude, the wrongful death lawyers’ industry, rooted in the critical social need for justice and accountability, is a dynamic and evolving arena. Enhanced by technology and shaped by societal and legal shifts, the industry presents an intriguing mix of challenges and opportunities. As the industry moves ahead, wrongful death lawyers will continue to be pivotal in upholding justice and societal values.