Legal services companies advise clients (individuals or corporations) 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.
The top five companies covered are Latham & Watkins LLP, Kirkland & Ellis LLP, Baker McKenzie, Skadden and DLA Piper. Latham & Watkins was the largest company in the legal services market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Legal Services Market Size
The global legal services market was valued at $848 billion in 2017. North America was the largest region in the legal services market in 2017, accounting for above 49% market share. The USA was the largest country in the market in 2017, accounting for above 40% market share.
Legal Services Market Trend
The legal services industry is experiencing a shift in the delivery model for legal services. It involves outsourcing the work of attorneys, paralegals and other legal professionals to companies located either domestically within the country or overseas. Both onshore and offshore outsourcing is transforming legal services as legal services companies are looking to minimize costs and increase their in-house capabilities.
Legal Services Market Segmentation
The legal services market in this report is segmented into Civil Law Practices, and Criminal Law Practices.
Criminal Law is a system of laws concerned with punishment of individuals who commit crime related to traffic, public order, property and people.
Civil Law is a system of laws to resolve issues that occur between individuals and groups related to contract, employment and family.