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PUBLISHER: Grand View Research | PRODUCT CODE: 1404965

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PUBLISHER: Grand View Research | PRODUCT CODE: 1404965

Legal Services Market Size, Share & Trends Analysis Report By Services (Taxation, Real Estate, Litigation, Bankruptcy, Labor/Employment, Corporate), By Firm Size (Large, Medium, Small), By Provider, And Segment Forecasts, 2023 - 2030

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Legal Services Market Growth & Trends:

The global legal services market size is anticipated to reach USD 1,362.81 billion by 2030, growing at a CAGR of 4.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rapid growth can be attributed to increasing globalization and the expansion of in-house legal departments in the corporate sector. The increasing prevalence of economic crimes, such as fraud and cybercrimes is fueling the demand for legal services around the globe. On the other hand, businesses are increasingly employing Alternate Legal Service Providers (ALSPs) for routine legal services, further creating growth opportunities for the market.

There is an increasing trend of building in-house legal departments across large enterprises, while small and medium-sized enterprises are turning towards consulting firms to reduce legal costs. This significant focus on legal services in the corporate sector has contributed to its substantial market share throughout the historic and forecast period. Rising demand for legal services associated with intellectual property in the corporate sector is projected to further boost demand for legal services in upcoming years.

Litigation funding or financing is one of the fastest-growing trends in the global legal services industry. A third party provides financial assistance to a litigant in this mechanism. It is the practice where a third party unrelated to the lawsuit offers capital to a litigant involved in litigation in return for a portion of financial recovery from the lawsuit. This type of funding helps enhance the winning chances for litigants who may not have the financial resources to pursue their claims against better-funded and larger defendants.

In recent years, litigation funding has grown rapidly and become more mainstream. HMR Servicing, Fair Rate Funding, Fast Funds, and USClaims are some of the litigation funding firms that specialize in providing capital to litigants and law firms involved in litigation. Further, large law firms collaborate with smaller firms to enhance their litigation service offerings. For instance, in July 2023, Womble Bond Dickinson partnered with Simmonds & Narita L.P., a boutique litigation firm, to enhance the dispute resolution and litigation practice rate of Womble Bond Dickinson.

Legal Services Market Report Highlights:

  • Corporate is projected to be the leading service segment over the forecast period, as arguments over harassment of employees, and organizational discrimination audits, and copyright violation & patent infringement continue to rise
  • The private practicing attorneys provider segment is predicted to grow significantly throughout the forecast period due to expanded opportunities for attorneys in both large and small and mid-sized businesses
  • Law firms are modifying their hiring practices to meet the changing needs of their customers. In addition, law firms are partnering with professional service providers to deliver unified, diverse services to their clients
  • Asia Pacific has experienced exponential growth fueled by the rise in demand for legal services due to the increase in cross-border transactions and the growing complexity of business transactions
Product Code: GVR-3-68038-818-3

Table of Contents

Chapter 1 Methodology and Scope

  • 1.1 Market Segmentation & Scope
  • 1.2 Market Definitions
  • 1.3 Information Procurement
    • 1.3.1 Information Analysis
    • 1.3.2 Market Formulation & Data Visualization
    • 1.3.3 Data Validation & Publishing
  • 1.4 Research Scope and Assumptions
    • 1.4.1 List Of Data Sources

Chapter 2 Executive Summary

  • 2.1 Legal Services Market Snapshot
  • 2.2 Legal Services - Segment Snapshot (1/2)
  • 2.3 Legal Services - Segment Snapshot (2/2)
  • 2.4 Legal Services - Competitive Landscape Snapshot

Chapter 3 Legal Services Market Overview

  • 3.1 Market Lineage Outlook
  • 3.2 Value Chain Analysis
  • 3.3 Market Dynamics
    • 3.3.1 Market Driver Analysis
    • 3.3.2 Market Restraint Analysis
    • 3.3.3 Market Opportunity Analysis
    • 3.3.4 Market Challenges Analysis
  • 3.4 Industry Analysis Tools
    • 3.4.1 Porter's Analysis
    • 3.4.2 Macroeconomic Analysis
  • 3.5 Legal Services Market - COVID-19 Impact Analysis

Chapter 4 Legal Services Market: Service Type Estimates & Trend Analysis

  • 4.1 Service Type Movement Analysis & Market Share, 2022 & 2030
  • 4.2 Legal Services Market Estimates & Forecast, By Service Type (USD Billion)
    • 4.2.1 Taxation
    • 4.2.2 Real Estate
    • 4.2.3 Litigation
    • 4.2.4 Bankruptcy
    • 4.2.5 Labor/Employment
    • 4.2.6 Corporate

Chapter 5 Legal Services Market: Firm Size Estimates & Trend Analysis

  • 5.1 Firm Size Movement Analysis & Market Share, 2022 & 2030
  • 5.2 Legal Services Market Estimates & Forecast, By Firm Size (USD Billion)
    • 5.2.1 Large Firms
    • 5.2.2 Medium Firms
    • 5.2.3 Small Firms

Chapter 6 Legal Services Market: Provider Estimates & Trend Analysis

  • 6.1 Provider Movement Analysis & Market Share, 2022 & 2030
  • 6.2 Legal Services Market Estimates & Forecast, By Provider (USD Billion)
    • 6.2.1 Private Practicing Attorneys
    • 6.2.2 Legal Business Firms
    • 6.2.3 Government Departments
    • 6.2.4 Others

Chapter 7 Regional Estimates & Trend Analysis

  • 7.1 Legal Services Market: Regional Outlook
  • 7.2 North America
    • 7.2.1 North America Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.2.2 U.S.
      • 7.2.2.1 U.S. Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.2.3 Canada
      • 7.2.3.1 Canada Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  • 7.3 Europe
    • 7.3.1 Europe Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.3.2 UK
      • 7.3.2.1 UK Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.3.3 Germany
      • 7.3.3.1 Germany Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.3.4 France
      • 7.3.4.1 France Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.3.5 Italy
      • 7.3.5.1 Italy Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.3.6 Spain
      • 7.3.6.1 Spain Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  • 7.4 Asia Pacific
    • 7.4.1 Asia Pacific Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.4.2 China
      • 7.4.2.1 China Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.4.3 Japan
      • 7.4.3.1 Japan Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.4.4 India
      • 7.4.4.1 India Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.4.5 South Korea
      • 7.4.5.1 South Korea Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  • 7.5 Latin America
    • 7.5.1 Latin America Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.5.2 Brazil
      • 7.5.2.1 Brazil Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.5.3 Argentina
      • 7.5.3.1 Argentina Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.5.3 Chile
      • 7.5.3.1 Chile Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
  • 7.6 Middle East and Africa
    • 7.6.1 Middle East And Africa Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
    • 7.6.2 South Africa
      • 7.6.2.1 South Africa Legal Services Market Estimates & Forecasts, 2018 - 2030 (USD Billion)

Chapter 8 Legal Services Market - Competitive Landscape

  • 8.1 Recent Developments & Impact Analysis, By Key Market Participants
    • 8.1.1 Baker McKenzie LLP
    • 8.1.2 Clifford Chance
    • 8.1.3 Deloitte
    • 8.1.4 DLA Piper LLP
    • 8.1.5 Ernst & Young Global Limited
    • 8.1.6 Kirkland & Ellis LLP
    • 8.1.7 KPMG
    • 8.1.8 Latham & Watkins
    • 8.1.9 PwC
    • 8.1.10 Skadden, Arps, Slate, Meagher & Flom LLP
  • 8.2 Company Categorization
  • 8.3 Participant's Overview
  • 8.4 Financial Performance
  • 8.5 Product Benchmarking
  • 8.6 Company Market Positioning
  • 8.7 Company Market Share Analysis, 2022
  • 8.8 Company Heat Map Analysis
  • 8.9 Strategy Mapping
    • 8.9.1 Expansion/Divestiture
    • 8.9.2 Mergers & Acquisition
    • 8.9.3 Collaborations/Partnerships
    • 8.9.4 New Product Launches
    • 8.9.5 Investments
Product Code: GVR-3-68038-818-3

List of Tables

  • Table 1 Legal services market - key market driver impact
  • Table 2 Legal services market - key market restraint impact
  • Table 3 Legal services market - key market opportunity impact
  • Table 4 Legal Services Market Revenue Estimates and Forecast, By Service Type, 2018 - 2030 (USD Billion)
  • Table 5 Legal Services Market Revenue Estimates and Forecast, By Firm Size, 2018 - 2030 (USD Billion)
  • Table 6 Legal Services Market Revenue Estimates and Forecast, By Provider, 2018 - 2030 (USD Billion) 

List of Figures

  • Fig. 1 Legal Services Market Segmentation
  • Fig. 2 Information Procurement
  • Fig. 3 Data Analysis Models
  • Fig. 4 Market Formulation and Validation
  • Fig. 5 Data Validating & Publishing
  • Fig. 6 Market Snapshot
  • Fig. 7 Segment Snapshot (1/2)
  • Fig. 8 Segment Snapshot (2/2)
  • Fig. 9 Competitive Landscape Snapshot
  • Fig. 10 Legal Services Market- Industry Value Chain Analysis
  • Fig. 11 Market Dynamics
  • Fig. 12 U.S. corporate legal spending on class actions, 2015 to 2023 (USD Bn)
  • Fig. 13 Class actions and annual spending breakdown by type, 2023
  • Fig. 14 Corporate use of ALSPs, (% of corporations using ALSPs for use cases)
  • Fig. 15 Number of cyber-security breaches in law firms, (% of total number of law firms worldwide)
  • Fig. 16 Top 5 sectors by data breach notifications, (% share during July to December 2022)
  • Fig. 17 Motivation for seeking litigation finance in the U.S., 2022
  • Fig. 18 Dedicated litigation funding companies, Funds Under Management (USD million)
  • Fig. 19 Legal services market: PORTER's Analysis
  • Fig. 20 Legal services market: PESTEL Analysis
  • Fig. 21 Legal Services Market, by Service Type: Key Takeaways
  • Fig. 22 Legal Services Market, by Service Type: Market Share, 2022 & 2030
  • Fig. 23 Taxation service type market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 24 Real estate service type market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 25 Litigation service type market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 26 Bankruptcy service type market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 27 Labor/Employment service type market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 28 Corporate service type market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 29 Legal Services Market, by Firm Size: Key Takeaways
  • Fig. 30 Legal Services Market, by Firm Size: Market Share, 2022 & 2030
  • Fig. 31 Large firms market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 32 Medium firms market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 33 Small firms market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 34 Legal Services Market, by Provider: Key Takeaways
  • Fig. 35 Legal Services Market, by Provider: Market Share, 2022 & 2030
  • Fig. 36 Private practicing attorneys market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 37 Legal business firms market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 38 Government departments market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 39 Others market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 40 Legal Services Market Revenue by Region, 2022 & 2030 (USD Billion)
  • Fig. 41 Regional marketplace: Key takeaways
  • Fig. 42 North America legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 43 U.S. legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 44 Canada legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 45 Europe legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 46 UK legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 47 Germany legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 48 France legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 49 Italy legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 50 Spain legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 51 Asia Pacific legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 52 China legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 53 Japan legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 54 India legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 55 South Korea legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 56 Latin America legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 57 Brazil legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 58 Argentina legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 59 Chile legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 60 Middle East and Africa legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 61 South Africa legal services market estimates & forecasts, 2018 - 2030 (USD Billion)
  • Fig. 62 Key company categorization
  • Fig. 63 Company Market Positioning
  • Fig. 64 Strategic framework
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