Legal Services Market Trend, Share, Growth, Size, and Forecast 2030

Global Legal Services Market: Size

The global Legal Services market, which accrued revenue worth 795 (USD Billion) in 2018 and anticipated to garner earnings about 997(USD Billion) by 2025, is set to grow at a CAGR of nearly 4.2% during the period from 2019 to 2025. The report offers valuation and analysis of the Legal Services market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).

Legal Services Market: Overview

Legal services are provided to the clients by law firms and it includes services to both the big or small organizations and individuals. These law firms provide advice to the clients about their legal rights. They also represent clients in criminal cases as well as in civil law suits and business deals. They guide the clients in the matters that require legal support and expert advice. Many of the legal services offered by law firms are contract drafting, legal transcription, legal publishing services, litigation review, and intellectual property support solutions.

Legal Services Market: Growth Drivers

With new fiscal transaction modes resulting into financial law suits on firms & individuals are likely to steer the expansion of legal services industry in the ensuing years. Apart from this, legal service providers are involved in third party law suit financing activities and legal financing, thereby creating new growth avenues for legal services industry across the globe. Apparently, favorable government laws and liberalization of laws and less number of procedures to acquire license for carrying out legal services will pave a way for the growth of legal services industry in the forthcoming years. Outsourcing of legal services is gaining prominence to save the costs and this will boost the market trends. Rapid urbanization and globalizations is likely to play a key role in shaping the growth of the legal services market in the near future.

Furthermore, launching of new technologies and emergence of expert lawyers are anticipated to push the growth graph of legal services market in the upward direction. Nonetheless, humungous pressure on accepting alternate fee arrangement and transparency in methods of billing the legal services can impede the growth of legal services market in the years ahead. Apparently, a large difference witnessed in the legal methods of different countries can create obstacles in the expansion of the business in the forthcoming years.

Request Free Sample

European Legal Services Market To Attain Peak Level By 2025

The expansion of the legal services industry in European continent over 2019-2025 can be credited to large number of law professional providing legal services to clients in the countries such as Spain. Apart from this, large number of law firms in the countries such as the UK and Germany are outsourcing their legal services to countries such as India and Philippines to  avoid incurrence of huge costs on legal services, legal process outsourcing and this will further drive the market growth in the continent over the coming decade.

Key players profiled in the study include Clifford Chance LLP, LexisNexis, Baker & McKenzie, KPMG, and E&Y.

The global legal services market is segmented as follows:

By End User:

• Charities
• Legal Aid Consumers
• Private Consumers
• SMEs
• Large Businesses
• Government

By Application:

• Commercial and Residential Property
• Wills, Trusts, and Probate
• Corporate, Financial, and Commercial Law
• Personal Injury
• Family Law
• Employment Law
• Criminal Law
• Other Applications

By Service:

• Notarial Activities
• Representation
• Advice
• Research

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa