Legal Services Market By Types (B2B Legal Services, B2C Legal Services, Criminal Law Practices and Hybrid Commercial Legal Services), By Size, By Practice, By Key Players And By End Users - Global Forecast To 2021

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Legal Services Market Definition

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.

Offices of lawyers, title abstract and settlement offices, offices of notaries, solicitors, barristers, and lawyers are the establishments involved in providing legal services.

Legal Services Size

The global legal services market reached a value of nearly $849 billion in 2017, having grown at a compound annual growth rate (CAGR) of more than 4.07% since 2013.

Growth in the legal services market in the historic period resulted from the growth of emerging market and technological developments.

Going forward, faster economic growth and globalization will result into faster growth of the legal services market. Factors that could hinder the growth of this market in the future include rising costs and reduction in free trade.

Legal Services Drivers

The key drivers of the legal services market include:

Emerging Markets Growth – Economic growth and increase in the size of the educated middle classes gives new opportunities for legal services firms looking for growth. For example, Asia, where many emerging countries are located, had a GDP of $35.3 trillion in 2017and it grew at 5.7% from 2016-17.  In 2017, about 40% of companies in the Fortune 500 companies were Asian.  Most of these companies are automobile, technology, oil and gas and e-commerce companies which need services in corporate, patent, real estate and tax laws. These factors had a positive impact on the demand for legal services in emerging markets in the historic period.

Legal Services Restraints

The key restraints on the legal services market include:

Regulatory Challenges – The legal services industry is being extensively regulated by government and authorities which works as a restraint on the market.  According to a report by the OECD, accounting and legal services are the most heavily regulated professional services in OECD countries. This results in lower profits for law firms as they incur costs in complying with mandated government regulations.  

Legal Services Market Trends

Major trends influencing the legal services market include:

Rising Hashtag Trademark Registrations – Companies in the legal services market are witnessing rising demand for hashtag trademarking services from businesses that are looking to expanding their business through social media platforms. A hashtag refers to a hash sign (#) used before a word or a phrase to identify specific topics and themes, especially on social media platforms. According to a research carried out by CompuMark, a global trademark and brand research company, a total of 2,200 hashtag trademarks were registered in 2016, increasing by 64% from 2015. The USA has been the leading market for hashtags since 2010, but its   dropped from 35% to 28% from 2015-2016. In 2016, the USA registered 608 hashtag trademarks, followed by Brazil at 226, and India at 141. Notable registrations include #lovetravels by Marriott International Inc., #getthanked by T-Mobile, and #gofor2 by The Hershey Company. The increasing number of hashtag trademarks has increased the demand for legal services pertaining to infringement, copyright, and competition.

Legal Process Outsourcing To Cut Costs – Companies in the legal services industry are shifting towards outsourcing legal services to reduce costs and increase in-house efficiency. This 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 are transforming legal services as legal services companies are looking to minimize costs and increase their in-house capabilities. For instance, many companies in the US and the UK outsource legal services to countries such as India, the Philippines and South Korea where employees earn 30% to 70% lower wages.

Legal Services Market Segmentation

The Legal Services market is segmented by type of service, by end user and by practice
By Service Type - The legal services market is segmented by service type into
    • a) B2B Legal Services
    • b) B2C Legal Services
    • c) Criminal Law Practices
    • d) Hybrid Commercial Legal Services
Hybrid Commercial Legal Services had the highest growth rate of nearly 7.29% during the historic period.
By End User - The legal services market is segmented by end user into
    • a) Individuals
    • b) Financial Services
    • c) Mining and Oil & Gas
    • d) Manufacturing
    • e) Other Services
    • f) Construction
    • g) IT Services
    • h) Others
Individuals was the largest end user segment in the legal services market with 43.38% of the market
By Type Of Practice - The legal services market is segmented by type of practice into
    • a) Litigation
    • b) Corporate
    • c) Labor/Employment
    • d) Real Estate
    • e) Patent Litigation
    • f) Tax
    • g) Bankruptcy
    • h) Others
Litigation was the largest segment by type of practice in the legal services market with 31% of the
By Geography - The legal services market is segmented into
    • o North America
      • USA
    • o Western Europe
      • UK
      • Germany
      • France
      • Spain
      • Italy
    • o Asia Pacific
      • China
      • Japan
      • India
      • Australia
    • o Eastern Europe
      • Russia
    • o South America
      • Brazil
    • o Middle East
    • o Africa
North America is the largest market for legal services, accounting for almost 50%% of the global market. It was followed by Western Europe, Asia-Pacific and then the other regions.

Legal Services Competitive Landscape

Major Competitors are:
    • • Latham & Watkins LLP
    • • Kirkland & Ellis LLP
    • • Baker & McKenzie
    • • Skadden, Arps, Slate, Meagher & Flom LLP
    • • DLA Piper
Other Competitors Include:
    • • Clifford Chance
    • • Allen & Overy
    • • Jones Day
    • • Linklaters
    • • Sidley Austin
    • • Morgan, Lewis & Bockius
    • • White & Case
    • • Gibson Dunn
    • • Greenberg Traurig
    • • Sullivan & Cromwell

  1. 1.Introduction
  2. 2.Executive Summary
  3. 3.Legal Services Market Characteristics
  4. 4.Global Legal Services Market Size and Growth
    • 4.1 Global Legal Services Market Size
    • 4.2 Global Legal Services Market Historic Growth
      • 4.2.1 Drivers of the Market
      • 4.2.2 Restraints on the Market
    • 4.3 Global Legal Services Market Forecast Growth
      • 4.3.1 Drivers of the Market
      • 4.3.2 Restraints on the Market
  5. 5.Porter`s Five Forces Model
    • 5.1 Bargaining Power of Buyer
    • 5.2 Bargaining Power of Suppliers
    • 5.3 Threat Of New Entrants
    • 5.4 Threat of Substitutes
    • 5.5 Industry Competition
  6. 6.PESTEL Analysis
    • 6.1 Political
    • 6.2 Economic
    • 6.3 Social
    • 6.4 Technological
    • 6.5 Environmental
    • 6.6 Legal
  7. 7.Legal Services Market Segmentation
    • 7.1 Global Legal Services Market Segmentation, By Type of Service
    • 7.2 Global Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 7.3 Global Legal Services Market Segmentation, By Type of Service Provider
    • 7.4 Global Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 7.5 Global Legal Services Market Segmentation, By End User
    • 7.6 Global Legal Services Market Segmentation, By Type of Practice
  8. 8.Legal Services Market Regional And Country Analysis
    • 8.1 Global Legal Services Market, 2017, By Region
    • 8.2 Global Legal Services Market, 2013 - 2021, Historic and Forecast, By Region
    • 8.3 Global Legal Services Market, 2017, By Country
    • 8.4 Global Legal Services Market, 2013 - 2021, Historic and Forecast, By Country
  9. 9.North America Legal Services Market
    • 9.1 North America Legal Services Market Overview
    • 9.2 North America Legal Services Market Information
    • 9.3 North America Legal Services Historic Market, 2013 - 2017
    • 9.4 North America Legal Services Forecast Market, 2017 - 2021
    • 9.5 North America Services Market Segmentation, By Type of Service
    • 9.6 North America Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 9.7 North America Services Market Segmentation, By Type of Service Provider
    • 9.8 North America Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 9.9 North America Legal Services Market Segmentation, By End User
    • 9.10 North America Legal Services Market Segmentation, By Type of Practice
    • 9.11 USA Legal Services Market
      • 9.11.1 USA Legal Services Market Overview
      • 9.11.2 USA Legal Services Market Information
      • 9.11.3 USA Legal Services Historic Market, 2013 - 2017
      • 9.11.4 USA Legal Services Forecast Market, 2017 - 2021
      • 9.11.5 USA Services Market Segmentation, By Type of Service
      • 9.11.6 USA Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 9.11.7 USA Services Market Segmentation, By Type of Service Provider
      • 9.11.8 USA Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 9.11.9 USA Legal Services Market Segmentation by End User
      • 9.11.10 USA Legal Services Market Segmentation, By Type of Practice
  10. 10.Western Europe Legal Services Market
    • 10.1 Western Europe Legal Services Market Overview
    • 10.2 Western Europe Legal Services Market Information
    • 10.3 Western Europe Legal Services Historic Market, 2013 - 2017
    • 10.4 Western Europe Legal Services Forecast Market, 2017 - 2021
    • 10.5 Western Europe Services Market Segmentation, By Type of Service
    • 10.6 Western Europe Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 10.7 Western Europe Services Market Segmentation, By Type of Service Provider
    • 10.8 Western Europe Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 10.9 Western Europe Legal Services Market Segmentation, By End User
    • 10.10 Western Europe Legal Services Market Segmentation, By Type of Practice
    • 10.11 UK Legal Services Market
      • 10.11.1 UK Legal Services Market Overview
      • 10.11.2 UK Legal Serviced Market Information
      • 10.11.3 UK Legal Services Historic Market, 2013 - 2017
      • 10.11.4 UK Legal Services Forecast Market, 2017 - 2021
      • 10.11.5 UK Services Market Segmentation, By Type of Service
      • 10.11.6 UK Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 10.11.7 UK Services Market Segmentation, By Type of Service Provider
      • 10.11.8 UK Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 10.11.9 UK Legal Services Market Segmentation, By End User
      • 10.11.10 UK Legal Services Market Segmentation, By Type of Practice
    • 10.12 Germany Legal Services Market
      • 10.12.1 Germany Legal Services Market Overview
      • 10.12.2 Germany Legal Services Market Information
      • 10.12.3 Germany Legal Services Historic Market, 2013 - 2017
      • 10.12.4 Germany Legal Services Forecast Market, 2017 - 2021
      • 10.12.5 Germany Services Market Segmentation, By Type of Service
      • 10.12.6 Germany Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 10.12.7 Germany Services Market Segmentation, By Type of Service Provider
      • 10.12.8 Germany Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 10.12.9 Germany Legal Services Market Segmentation, By End User
      • 10.12.10 Germany Legal Services Market Segmentation, By Type of Practice
    • 10.13 France Legal Services Market
      • 10.13.1 France Legal Services Market Overview
      • 10.13.2 France Legal Services Market Information
      • 10.13.3 France Legal Services Historic Market, 2013 - 2017
      • 10.13.4 France Legal Services Forecast Market, 2017 - 2021
      • 10.13.5 France Services Market Segmentation, By Type of Service
      • 10.13.6 France Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 10.13.7 France Services Market Segmentation, By Type of Service Provider
      • 10.13.8 France Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 10.13.9 France Legal Services Market Segmentation, By End User
      • 10.13.10 France Legal Services Market Segmentation, By Type of Practice
    • 10.14 Italy Legal Services Market
      • 10.14.1 Italy Legal Services Market Overview
      • 10.14.2 Italy Legal Services Market Information
      • 10.14.3 Italy Legal Services Historic Market, 2013 - 2017
      • 10.14.4 Italy Legal Services Forecast Market, 2017 - 2021
      • 10.14.5 Italy Services Market Segmentation, By Type of Service
      • 10.14.6 Italy Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 10.14.7 Italy Services Market Segmentation, By Type of Service Provider
      • 10.14.8 Italy Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 10.14.9 Italy Legal Services Market Segmentation, By End User
      • 10.14.10 Italy Legal Services Market Segmentation, By Type of Practice
    • 10.15 Spain Legal Services Market
      • 10.15.1 Spain Legal Services Market Overview
      • 10.15.2 Spain Legal Services Market Information
      • 10.15.3 Spain Legal Services Historic Market, 2013 - 2017
      • 10.15.4 Spain Legal Services Forecast Market, 2017 - 2021
      • 10.15.5 Spain Services Market Segmentation, By Type of Service
      • 10.15.6 Spain Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 10.15.7 Spain Services Market Segmentation, By Type of Service Provider
      • 10.15.8 Spain Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 10.15.9 Spain Legal Services Market Segmentation, By End User
      • 10.15.10 Spain Legal Services Market Segmentation, By Type of Practice
  11. 11.Asia Pacific Legal Services Market
    • 11.1 Asia Pacific Legal Services Market Overview
    • 11.2 Asia Pacific Legal Services Market Information
    • 11.3 Asia Pacific Legal Services Historic Market, 2013 - 2017
    • 11.4 Asia Pacific Legal Services Forecast Market, 2017 - 2021
    • 11.5 Asia Pacific Services Market Segmentation, By Type of Service
    • 11.6 Asia Pacific Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 11.7 Asia Pacific Services Market Segmentation, By Type of Service Provider
    • 11.8 Asia Pacific Legal Services Market, 2013 - 2021, Historic and Forecast, By Type ofService Provider
    • 11.9 Asia Pacific Services Market Segmentation, By End User
    • 11.10 Asia-Pacific Legal Services Market Segmentation, By Type of Practice
    • 11.11 China Legal Services Market
      • 11.11.1 China Legal Services Market Overview
      • 11.11.2 China Legal Services Market Information
      • 11.11.3 China Legal Services Historic Market, 2013 - 2017
      • 11.11.4 China Legal Services Forecast Market, 2017 - 2021
      • 11.11.5 China Services Market Segmentation, By Type of Service
      • 11.11.6 China Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 11.11.7 China Services Market Segmentation, By Type of Service Provider
      • 11.11.8 China Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 11.11.9 China Legal Services Market Segmentation, By End User
      • 11.11.10 China Legal Services Market Segmentation, By Type of Practice
    • 11.12 India Legal Services Market
      • 11.12.1 India Legal Services Market Overview
      • 11.12.2 India Legal Services Market Information
      • 11.12.3 India Legal Services Historic Market, 2013 - 2017
      • 11.12.4 India Legal Services Forecast Market, 2017 - 2021
      • 11.12.5 India Services Market Segmentation, By Type of Service
      • 11.12.6 India Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 11.12.7 India Services Market Segmentation, By Type of Service Provider
      • 11.12.8 India Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 11.12.9 India Services Market Segmentation, By End User
      • 11.12.10 India Legal Services Market Segmentation, By Type of Practice
    • 11.13 Japan Legal Services Market
      • 11.13.1 Japan Legal Services Market Overview
      • 11.13.2 Japan Legal Services Market Information
      • 11.13.3 Japan Legal Services Historic Market, 2013 - 2017
      • 11.13.4 Japan Legal Services Forecast Market, 2017 - 2021
      • 11.13.5 Japan Services Market Segmentation, By Type of Service
      • 11.13.6 Japan Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 11.13.7 Japan Services Market Segmentation, By Type of Service Provider
      • 11.13.8 Japan Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 11.13.9 Japan Services Market Segmentation, By End User
      • 11.13.10 Japan Legal Services Market Segmentation, By Type of Practice
    • 11.14 Australia Legal Services Market
      • 11.14.1 Australia Legal Services Market Overview
      • 11.14.2 Australia Legal Services Market Information
      • 11.14.3 Australia Legal Services Historic Market, 2013 - 2017
      • 11.14.4 Australia Legal Services Forecast Market, 2017 - 2021
      • 11.14.5 Australia Services Market Segmentation, By Type of Service
      • 11.14.6 Australia Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 11.14.7 Australia Services Market Segmentation, By Type of Service Provider
      • 11.14.8 Australia Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 11.14.9 Australia Legal Services Market Segmentation, By End User
      • 11.14.10 Australia Legal Services Market Segmentation, By Type of Practice
  12. 12.South America Legal Services Market
    • 12.1 South America Legal Services Market Overview
    • 12.2 South America Legal Services Market Information
    • 12.3 South America Legal Services Historic Market, 2013 - 2017
    • 12.4 South America Legal Services Forecast Market, 2017 - 2021
    • 12.5 South America Legal Services Market Segmentation, By Type of Service
    • 12.6 South America Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 12.7 South America Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 12.8 South America Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 12.9 South America Legal Services Market Segmentation, By End User
    • 12.10 South America Legal Services Market Segmentation, By Type of Practice
    • 12.11 Brazil Legal Services Market
      • 12.11.1 Brazil Legal Services Market Overview
      • 12.11.2 Brazil Legal Services Market Information
      • 12.11.3 Brazil Legal Services Historic Market, 2013 - 2017
      • 12.11.4 Brazil Legal Services Forecast Market, 2017 - 2021
      • 12.11.5 Brazil Legal Services Market Segmentation, By Type of Service
      • 12.11.6 Brazil Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 12.11.7 Brazil Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 12.11.8 Brazil Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 12.11.9 Brazil Legal Services Market Segmentation, By End User
      • 12.11.10 Brazil Legal Services Market Segmentation, By Type of Practice
  13. 13.Eastern Europe Legal Services Market
    • 13.1 Eastern Europe Legal Services Market Overview
    • 13.2 Eastern Europe Legal Services Market Information
    • 13.3 Eastern Europe Legal Services Historic Market, 2013 - 2017
    • 13.4 Eastern Europe Legal Services Forecast Market, 2013 - 2017
    • 13.5 Eastern Europe Services Market Segmentation, By Type of Service
    • 13.6 Eastern Europe Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 13.7 Eastern Europe Services Market Segmentation, By Type of Service Provider
    • 13.8 Eastern Europe Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 13.9 Eastern Europe Legal Services Market Segmentation, By End User
    • 13.10 Eastern Europe Legal Services Market Segmentation, By Type of Practice
    • 13.11 Russia Legal Services Market
      • 13.11.1 Russia Legal Services Market Overview
      • 13.11.2 Russia Legal Services Market Information
      • 13.11.3 Russia Legal Services Historic Market, 2013 - 2017
      • 13.11.4 Russia Legal Services Forecast Market, 2017 - 2021
      • 13.11.5 Russia Services Market Segmentation, By Type of Service
      • 13.11.6 Russia Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
      • 13.11.7 Russia Services Market Segmentation, By Type of Service Provider
      • 13.11.8 Russia Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
      • 13.11.9 Russia Legal Services Market Segmentation, By End User
      • 13.11.10 Russia Legal Services Market Segmentation, By Type of Practice
  14. 14.Middle East Legal Services Market
    • 14.1 Middle East Legal Services Market Overview
    • 14.2 Middle East Legal Services Market Information
    • 14.3 Middle East Legal Services Historic Market, 2013 - 2017
    • 14.4 Middle East Legal Services Forecast Market, 2017 -2021
    • 14.5 Middle East Legal Services Market Segmentation, By Type of Service
    • 14.6 Middle East Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 14.7 Middle East Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 14.8 Middle East Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 14.9 Middle East Legal Services Market Segmentation, By End User
    • 14.10 Middle East Legal Services Market Segmentation, By Type of Practice
  15. 15.Africa Legal Services Market
    • 15.1 Africa Legal Services Market Overview
    • 15.2 Africa Legal Services Market Information
    • 15.3 Africa Legal Services Historic Market, 2013 - 2017
    • 15.4 Africa Legal Services Forecast Market, 2017 -2021
    • 15.5 Africa Legal Services Market Segmentation, By Type of Service
    • 15.6 Africa Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service
    • 15.7 Africa Legal Services Market Segmentation, By Type of Service Provider
    • 15.8 Africa Legal Services Market, 2013 - 2021, Historic and Forecast, By Type of Service Provider
    • 15.9 Africa Legal Services Market Segmentation, By End User
    • 15.10 Africa Legal Services Market Segmentation, By Type of Practice
  16. 16.Legal Services Market Competitive Landscape
    • 16.1 Latham & Watkins LLP
      • 16.1.1 Overview
      • 16.1.2 Products And Services
      • 16.1.3 Strategy
      • 16.1.4 Financial Performance
    • 16.2 Kirkland & Ellis LLP
      • 16.2.1 Overview
      • 16.2.2 Products And Services
      • 16.2.3 Strategy
      • 16.2.4 Financial Performance
    • 16.3 Baker & McKenzie
      • 16.3.1 Overview
      • 16.3.2 Products And Services
      • 16.3.3 Strategy
      • 16.3.4 Financial Performance
    • 16.4 Skadden, Arps, Slate, Meagher & Flom LLP
      • 16.4.1 Overview
      • 16.4.2 Products And Services
      • 16.4.3 Strategy
      • 16.4.4 Financial Performance
    • 16.5 DLA Piper
      • 16.5.1 Overview
      • 16.5.2 Products And Services
      • 16.5.3 Strategy
      • 16.5.4 Financial Performance
  17. 17.Global Legal Services Market Comparison with Macro Economic Factors
    • 17.1 Legal Services Market Size, Percentage Of GDP, Global
    • 17.2 Legal Services Market Size, Percentage of GDP, By Country
    • 17.3 Per Capita Average Legal Services Expenditure, Global
    • 17.4 Per Capita Average Legal Services Expenditure, By Country
  18. 18.Legal Services Customer and Operational Insights
    • 18.1 Customer Information
    • 18.2 Operational Information
  19. 19.Key Mergers And Acquisitions In The Legal Services Market
  20. 20.Legal Services Market Trends And Strategies
  21. 21.Appendix
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