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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

Starting Price : $ 6000.00 $ 4020.00 | Pages : 300 | Published : July 2018 | SKU CODE : o&s007 | Format :

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Legal Services Market Characteristics

Legal services companies advise clients (either individuals or corporations) about their legal rights and responsibilities, and further represent clients in civil or criminal cases, business transactions, and other matters. Establishments providing legal services include offices of lawyers, title abstract and settlement offices and offices of notaries.

Historically, law firms used traditional by-the-hour billing models, but the downward pressure on pricing has forced law firms to move to alternative billing models. The new alternative billing models include fixed, flat blended and capped fees. Many law firms are switching to alternative billing models to build long term relationships with clients and to maximize the value they are offering to clients.

Legal Services Market Competitive Landscape

The legal services market is fragmented, with limited number of global players. Major companies in the legal services market include Latham & Watkins LLP, Kirkland & Ellis LLP, Baker & McKenzie, Skadden, Arps, Slate, Meagher & Flom LLP and DLA Piper.

The legal services market is fragmented, with limited number of truly global players. The partnership model, the major differences between different legal systems in different countries and the difficulty of commoditizing high end legal services are amongst the reasons why there are no globally dominant law firms. The top five competitors in the market hardly made up about 1% of the total market in 2017. Latham & Watkins was the largest competitor.

Legal Services Market Size

The legal services market is expected to reach around $1 billion by 2021, growing at a CAGR of less than 5% in the forecast period. The growth in the legal services market is mainly due to- economic growth, the global economy is expected to go through a continued period of steady growth during 2016-20. The US economy was already showing strong growth in 2015, and this is likely to continue during the forecast period. The European market is expected to see growth return later in the period – between 2016 and 2019. This continued economic growth is expected to be a driver of the market for legal services. For instance, the volume of non-residential property transactions in the UK rose significantly to 68,000 in 2014, resulting in increased demand for legal services.

Globalization – Many domestic law firms are entering into new markets, collaborating with foreign counsels to offer wide range of services, thereby eliminating boundaries on the geographic scope of law practice. Globalization is gaining momentum due to rapid growth in internet, automation of legal processes and developments in data security. Also, in many parts of the world there was limited demand for more sophisticated services. Now many clients have globalized and thus require more sophisticated and internationally-oriented legal service providers with global reach

However, the legal services market is further expected to face restraints from several factors such as skill shortages, regulatory challenges and In-House Legal Teams Increasing Pressure On Traditional Law Firms – Globally, increasing number of companies appointing in-house legal teams is resulting in decreasing demand for traditional law agencies. Employing an in-house legal team not only reduces in outsourcing costs, but also helps companies safeguard company information, and increase operational flexibility. The legal services market is has experienced a significant competition from the growing employment of an in-house legal team.  For instance, in-house legal solicitors account for about 25% of the total in England and Wales, and is forecasted to cross about 35% by 2020. According to the Malhab report 2016, changes in the legal environment, increasing legal reforms, and growing number of regulations, are compelling in-house legal teams to increasingly recruit their own in-house litigation specialists. According to the report, the proportion of in-house lawyers in Australia grew about 20% YOY and are now accounting for approximately 30% of the total lawyer population. Going forward, rising pressure from in-house legal teams is expected to hinder the growth of traditional law firms in the forecast period.

Legal Services Market Segmentation

The legal services market is segmented on the basis of type of law firm, type of service provider, end user and geography.
By Type of Law Firm- The legal services market is segmented into B2B legal services, B2C legal services, criminal law practices and hybrid commercial legal services. B2B legal services were the largest type of service segment of the legal services market in 2018, accounting for about 48% of the global total but hybrid legal services are the fastest-growing segment. Large law firms provided about three-fifths of all traded legal services
By Size Of The Law Firm- The legal services market is segmented into large law firms and SME law firms.
By Type Of Practice- The legal services market is segmented into litigation, corporate, labor, real estate, patent litigation, tax, bankruptcy and others. By type of practice, litigation was the largest segment, accounting for about 31% of the global market.
By End Users- The legal services market is segmented into individuals, financial services, mining and oil & gas, manufacturing, construction, IT services and other services.
By Geography- The global legal services market is segmented into North America, South America, Asia Pacific, Western Europe, Eastern Europe, Middle East and Africa. North America`s legal services market is the largest in the world in 2018 accounting for about 47% of the global market. North America`s market is dominated by the USA, where merger and acquisition activity has driven the market. Western Europe’s legal services market is the world`s second largest, supported by its tradition of rigorous implementation of legal and regulatory requirements.
Legal Services Market Trends
Several trends are witnessed in the legal services market which include alternative billing models, digitalization and increasing consolidation of legal service companies in the market.
Potential Opportunities In The Legal Services Market
With growing technology advancements, emerging market growth and expansion of international legal services, the potential and scope for legal services market is expected to increase significantly in the forecast period.

    1.Introduction

    2.Executive Summary

    3.Legal Services Market Characteristics

    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.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.PESTEL Analysis

    6.1 Political

    6.2 Economic

    6.3 Social

    6.4 Technological

    6.5 Environmental

    6.6 Legal

    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.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.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.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.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.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.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.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.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.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.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.Legal Services Customer and Operational Insights

    18.1 Customer Information

    18.2 Operational Information

    19.Key Mergers And Acquisitions In The Legal Services Market

    20.Legal Services Market Trends And Strategies

    21.Appendix

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