FEATURED COMPANIES
- Baker & McKenzie
- DLA Piper
- Kirkland & Ellis LLP
- Latham & Watkins
Legal Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global legal services market as it emerges from the COVID-19 shut down.
Reasons to Purchase
Description:
Where is the largest and fastest growing market for legal services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Legal Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider legal services market, and compares it with other markets.
Scope
Markets Covered:
1) By Type: B2B Legal Services; B2C Legal Services; Hybrid Legal Services; Criminal Law Practices
2) By Size: Large Law Firms; SME Law Firms
3) By End-Users: Individuals; Financial Services; Mining and Oil & Gas; Manufacturing; Construction; IT Services; Others
4) By Type Of Practice: Litigation; Corporate; Labor/Employment; Real Estate; Patent Litigation; Tax; Bankruptcy; Others (Regulatory, M&A, Antitrust, Environmental)
5) By Mode: Online; Offline
Companies Mentioned: Latham & Watkins; Kirkland & Ellis LLP; Baker & McKenzie; Skadden, Arps, Slate, Meagher & Flom; DLA Piper
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, legal services indicators comparison.
Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:
Where is the largest and fastest growing market for legal services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Legal Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider legal services market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The legal services market section of the report gives context. It compares the legal services market with other segments of the professional services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, legal services indicators comparison.
Scope
Markets Covered:
1) By Type: B2B Legal Services; B2C Legal Services; Hybrid Legal Services; Criminal Law Practices
2) By Size: Large Law Firms; SME Law Firms
3) By End-Users: Individuals; Financial Services; Mining and Oil & Gas; Manufacturing; Construction; IT Services; Others
4) By Type Of Practice: Litigation; Corporate; Labor/Employment; Real Estate; Patent Litigation; Tax; Bankruptcy; Others (Regulatory, M&A, Antitrust, Environmental)
5) By Mode: Online; Offline
Companies Mentioned: Latham & Watkins; Kirkland & Ellis LLP; Baker & McKenzie; Skadden, Arps, Slate, Meagher & Flom; DLA Piper
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, legal services indicators comparison.
Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Frequently Asked Questions about the Global Legal Services Market
What is the estimated value of the Global Legal Services Market?
What is the growth rate of the Global Legal Services Market?
What is the forecasted size of the Global Legal Services Market?
Who are the key companies in the Global Legal Services Market?
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- Baker & McKenzie
- DLA Piper
- Kirkland & Ellis LLP
- Latham & Watkins
1. Executive Summary2. Report Structure7. Legal Services Market Trends And Strategies8. Impact Of COVID-19 On Legal Services22. Key Mergers And Acquisitions In The Legal Services Market26. Copyright And Disclaimer
3. Legal Services Market Characteristics
4. Legal Services Market Product Analysis
5. Legal Services Market Supply Chain
6. Legal Services Market Customer Information
9. Legal Services Market Size And Growth
10. Legal Services Market Regional Analysis
11. Legal Services Market Segmentation
12. Legal Services Market Segments
13. Legal Services Market Metrics
14. Asia-Pacific Legal Services Market
15. Western Europe Legal Services Market
16. Eastern Europe Legal Services Market
17. North America Legal Services Market
18. South America Legal Services Market
19. Middle East Legal Services Market
20. Africa Legal Services Market
21. Legal Services Market Competitive Landscape
23. Market Background: Professional Services Market
24. Recommendations
25. Appendix
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FEATURED COMPANIES
- Baker & McKenzie
- DLA Piper
- Kirkland & Ellis LLP
- Latham & Watkins
Major companies in the legal services market include Latham & Watkins; Kirkland & Ellis LLP; Baker & McKenzie; Skadden, Arps, Slate, Meagher & Flom and DLA Piper.
The global legal services market is expected to grow from $713. 66 billion in 2020 to $734. 56 billion in 2021 at a compound annual growth rate (CAGR) of 2. 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $908. 17 billion in 2025 at a CAGR of 5%.
The legal services market consists of the sales of law-related services and related goods by entities (organizations, sole traders and partnerships) that advise clients (individuals, businesses or other entities) about their legal rights and responsibilities, and represent clients in civil or criminal cases, business transactions and other matters, in which legal advice and other assistance are sought. Legal services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or a team is responsible for the delivery of services to the client. The legal services market is segmented into B2B legal services; B2C services; hybrid services and criminal services.
North America was the largest region in the global legal services market, accounting for 56% of the market in 2020. Western Europe was the second largest region accounting for 24% of the global legal services market. Africa was the smallest region in the global legal services market.
Law firms around the world are offering cybercrime legal consulting services to their clients, owing to the increasing incidence of this type of crime. Cybercrime refers to a crime that is committed using an internet connection and a computer. This includes cyber-stalking, counterfeiting, money laundering, embezzlement, fraud, and tax evasion using internet and electronic devices. in the UK alone, around $35 billion is the estimated annual cost of cybercrimes. Law firms offering cybercrime consulting services employ lawyers, consultants, and ethical hackers who are experienced in handling crisis management, online financial theft, loss of data, data privacy, and intellectual property infringement. Large law firms practicing in the field of data privacy and cybersecurity include Latham & Watkins, DLA Piper, and Skadden, Arps, Slate, Meagher & Flom. The growing concern of organizations and individuals about cybercrimes is expected to increase the cybercrime legal consulting services market globally.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the legal services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the legal services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. ?
Political Trade Agreements Reforms - Globally, changes in political structure, legal reforms, and trade agreements are creating opportunities for law firms. International companies and organizations are bound to comply with various laws and regulations of different countries and specific trade agreements. Changes in the legal structure of intrastate agreements increases the demand for legal services. For instance, the UK's exit from the European Union is expected to increase the demand for law services due to the complexity of the regulatory and legislative changes pertaining to jurisdiction, judicial structure and trade. Law firms such as Dechert, Simmons & Simmons, Clifford Chance, and DLA Piper have set up specialized BREXIT teams and hotlines staffed with lawyers to help clients with a smooth transition. Going forward, the USA's withdrawal from the Trans-Pacific Partnership, Paris Agreement, and South Korea trade deal is expected to further drive the demand for legal services in the future.
The global legal services market is expected to grow from $713. 66 billion in 2020 to $734. 56 billion in 2021 at a compound annual growth rate (CAGR) of 2. 9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $908. 17 billion in 2025 at a CAGR of 5%.
The legal services market consists of the sales of law-related services and related goods by entities (organizations, sole traders and partnerships) that advise clients (individuals, businesses or other entities) about their legal rights and responsibilities, and represent clients in civil or criminal cases, business transactions and other matters, in which legal advice and other assistance are sought. Legal services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or a team is responsible for the delivery of services to the client. The legal services market is segmented into B2B legal services; B2C services; hybrid services and criminal services.
North America was the largest region in the global legal services market, accounting for 56% of the market in 2020. Western Europe was the second largest region accounting for 24% of the global legal services market. Africa was the smallest region in the global legal services market.
Law firms around the world are offering cybercrime legal consulting services to their clients, owing to the increasing incidence of this type of crime. Cybercrime refers to a crime that is committed using an internet connection and a computer. This includes cyber-stalking, counterfeiting, money laundering, embezzlement, fraud, and tax evasion using internet and electronic devices. in the UK alone, around $35 billion is the estimated annual cost of cybercrimes. Law firms offering cybercrime consulting services employ lawyers, consultants, and ethical hackers who are experienced in handling crisis management, online financial theft, loss of data, data privacy, and intellectual property infringement. Large law firms practicing in the field of data privacy and cybersecurity include Latham & Watkins, DLA Piper, and Skadden, Arps, Slate, Meagher & Flom. The growing concern of organizations and individuals about cybercrimes is expected to increase the cybercrime legal consulting services market globally.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the legal services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the legal services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. ?
Political Trade Agreements Reforms - Globally, changes in political structure, legal reforms, and trade agreements are creating opportunities for law firms. International companies and organizations are bound to comply with various laws and regulations of different countries and specific trade agreements. Changes in the legal structure of intrastate agreements increases the demand for legal services. For instance, the UK's exit from the European Union is expected to increase the demand for law services due to the complexity of the regulatory and legislative changes pertaining to jurisdiction, judicial structure and trade. Law firms such as Dechert, Simmons & Simmons, Clifford Chance, and DLA Piper have set up specialized BREXIT teams and hotlines staffed with lawyers to help clients with a smooth transition. Going forward, the USA's withdrawal from the Trans-Pacific Partnership, Paris Agreement, and South Korea trade deal is expected to further drive the demand for legal services in the future.
Note: Product cover images may vary from those shown
A selection of companies mentioned in this report includes:
- Latham & Watkins
- Kirkland & Ellis LLP
- Baker & McKenzie
- Skadden, Arps, Slate, Meagher & Flom
- DLA Piper
Note: Product cover images may vary from those shown
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