Legal Services Market Estimated to Cross US$ 2.02 Tn by 2030
The worldwide Legal Services market measurement is anticipated to achieve USD 2.02 Tillion by 2030 and is anticipated to increase at a CAGR of 10.4% from 2021 to 2030.
Download Exclusive Sample of Report@ https://www.visionresearchreports.com/report/sample/38480
Growth Factors
The growing use of latest technologies in offering legal services is expected to drive the market growth. A strong emphasis on ensuring transparency in the relationship with clients is also expected to drive the growth of the market. Automation software enables more efficient document production and proofreading. Team collaboration software helps to further streamline the execution of documentation processes. These developments and technologies offer greater value to lawyers by helping them decrease their expenses and increase convenience.
Law firms are increasingly adopting to aid in optimizing the work process and save time and costs for themselves as well as their clients. Chatbots can help law firms in digitizing the information and searching for lawyer-specific documents, among other tasks. Chatbots can also help in following up with non-responsive clients and seeking the required information through automated conversations.
Report Highlights
The corporate segment led the legal services market in 2020, accounting for a 39.2% share of the global revenue. This high share can be attributed to the advent of new modes of financial transactions on corporate fronts. In addition, the corporate segment is expected to be the dominant service segment over the forecast period, as disputes over organizational discrimination and harassment of employees, audits, and patent infringement & copyright violation continue to rise.
The legal business firms segment led the market in 2020, accounting for a 56.2% share of the global revenue. This high share can be attributed to the strategic investments made by legal service firms. They are investing in business development strategies, such as pipeline management, client education, public relations, and local community activities.
The large firms segment led the market in 2020, accounting for a 48.9% share of the global revenue. This high share can be attributed to the diverse range of services provided by large firms. For instance, large firms account for most of the judicial work, such as criminal defense matters, large-scale litigations, and major business transactions for enterprises across a variety of industries. The increasing stipulation for corporate judicial services from large organizations is anticipated to fuel the growth of the large firms segment over the forecast period.
North America led the market in 2020, accounting for a 52.5% share of the global revenue. This high share can be attributed to the increasing assignment volumes within the legal departments of the corporate industry in the U.S. The U.S. has particularly emerged as the leading country in the North American market due to the wide presence of legal service providers. Moreover, the increasing mergers and acquisitions in the region are also contributing to the demand for these services.
Key Players
- Baker & McKenzie
- Clifford Chance LLP
- Deloitte
- DLA Piper
- Ernst & Young (E&Y)
- Kirkland & Ellis LLP
- KPMG
- LATHAM & WATKINS LLP
- PwC
- Skadden, Arps, Slate, Meagher & Flom LLP
| Report Coverage | Details |
| Market Size | USD 2.02 Trillion by 2030 |
| Growth Rate | CAGR of 10.4% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Services, Firm size, Provider |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Baker & McKenzie; Clifford Chance LLP; Deloitte; DLA Piper; Ernst & Young (E&Y); Kirkland & Ellis LLP; KPMG; LATHAM & WATKINS LLP; PwC; and Skadden, Arps, Slate, Meagher & Flom LLP |
Market Segmentation
- Services
- Taxation
- Real Estate
- Litigation
- Bankruptcy
- Labor/Employment
- Corporate
- Firm Size
- Large Firms
- Medium Firms
- Small Firms
- Provider
- Private Practicing Attorneys
- Legal Business Firms
- Government Departments
- Others
- Regional
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Argentina
- Chile
- Middle East and Africa
- North America
Buy this Research Report study@ https://www.visionresearchreports.com/report/cart/38480
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Legal Services Market, By Services
7.1. Legal Services Market, by Services, 2021-2030
7.1.1. Taxation
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Real Estate
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Litigation
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Bankruptcy
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Labor/Employment
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. Corporate
7.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Legal Services Market, By Firm Size
8.1. Legal Services Market, by Firm Size, 2021-2030
8.1.1. Large Firms
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Medium Firms
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Small Firms
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Legal Services Market, By Provider
9.1. Legal Services Market, by Provider, 2021-2030
9.1.1. Private Practicing Attorneys
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Legal Business Firms
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Government Departments
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Legal Services Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Services (2017-2030)
10.1.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.1.3. Market Revenue and Forecast, by Provider (2017-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Services (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.1.4.3. Market Revenue and Forecast, by Provider (2017-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Services (2017-2030)
10.1.5.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.1.5.3. Market Revenue and Forecast, by Provider (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Services (2017-2030)
10.2.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.2.3. Market Revenue and Forecast, by Provider (2017-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Services (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.2.4.3. Market Revenue and Forecast, by Provider (2017-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Services (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.2.5.3. Market Revenue and Forecast, by Provider (2017-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Services (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.2.6.3. Market Revenue and Forecast, by Provider (2017-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Services (2017-2030)
10.2.7.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.2.7.3. Market Revenue and Forecast, by Provider (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Services (2017-2030)
10.3.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.3.3. Market Revenue and Forecast, by Provider (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Services (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.3.4.3. Market Revenue and Forecast, by Provider (2017-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Services (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.3.5.3. Market Revenue and Forecast, by Provider (2017-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Services (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.3.6.3. Market Revenue and Forecast, by Provider (2017-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Services (2017-2030)
10.3.7.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.3.7.3. Market Revenue and Forecast, by Provider (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Services (2017-2030)
10.4.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.4.3. Market Revenue and Forecast, by Provider (2017-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Services (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.4.4.3. Market Revenue and Forecast, by Provider (2017-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Services (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.4.5.3. Market Revenue and Forecast, by Provider (2017-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Services (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.4.6.3. Market Revenue and Forecast, by Provider (2017-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Services (2017-2030)
10.4.7.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.4.7.3. Market Revenue and Forecast, by Provider (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Services (2017-2030)
10.5.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.5.3. Market Revenue and Forecast, by Provider (2017-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Services (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.5.4.3. Market Revenue and Forecast, by Provider (2017-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Services (2017-2030)
10.5.5.2. Market Revenue and Forecast, by Firm Size (2017-2030)
10.5.5.3. Market Revenue and Forecast, by Provider (2017-2030)
Chapter 11. Company Profiles
11.1. Baker & McKenzie
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Clifford Chance LLP
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Deloitte
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. DLA Piper
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Ernst & Young (E&Y)
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Kirkland & Ellis LLP
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. KPMG
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. LATHAM & WATKINS LLP
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. PwC
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Skadden, Arps, Slate, Meagher & Flom LLP
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Buy this Research Report study@ https://www.visionresearchreports.com/report/cart/38480
Contact Us:
Vision Research Reports
Call: +1 9197 992 333