Global Legal Services Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Legal Services Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Legal services are the services involving legal or law related matters like issue of legal opinion, filing, pleading and defending of law suits etc by a lawyer or attorney practicing law related services.

Market Overview:

The latest research study on the global Legal Services market finds that the global Legal Services market reached a value of USD 802663.2 million in 2023. It’s expected that the market will achieve USD 1093299.67 million by 2029, exhibiting a CAGR of 5.29% during the forecast period.

The COVID-19 epidemic has had a huge impact on the legal services industry. The epidemic has dealt a severe blow to all walks of life, forcing many companies and businesses to close down, and many people to face unemployment. This leaves many people unable to afford legal services. On the other hand, this has also led to an increase in cases in areas such as unemployment, business insurance claims and construction disputes related to the coronavirus shutdown. In addition, epidemic prevention blockades and restrictions on the movement of people have led to the closure of many local courts or the slowdown in accepting cases. The biggest impact of the coronavirus on the legal industry is social distancing. Legal practitioners cannot meet face to face with clients and other parties. This means legal procedures that require face-to-face meetings, such as signing contracts, have had to be postponed. In the short term, this will affect the normal operations of companies in the legal services industry.

The COVID-19 outbreak has brought about huge changes in the working patterns of the legal services industry. The adoption of remote working, legal back-office services and other technologies is now becoming increasingly common in the legal field. Anti-epidemic lockdowns in many areas have spurred the mass adoption of remote working and digital technologies. New work trends and practices that would normally take years to implement are being rolled out in just a few months. Negative attitudes toward remote work have also irreversibly changed. The pandemic has shown that remote working is not only possible, but that companies can thrive by adopting smart technology and efficient work practices to maintain and even increase productivity.

Increasing demand for intellectual property protection

The increasing demand for intellectual property (IP) protection is bolstering the market. In today's knowledge-based economy, intellectual property, including patents, trademarks, copyrights, and trade secrets, holds immense value for businesses across industries. The need to safeguard these assets from infringement and unauthorized use has led to a rise in demand for legal services specializing in IP protection. Rapid technological advancements and the digital age have amplified the risks associated with IP infringement, counterfeiting, and piracy. As a result, businesses require legal expertise to navigate complex IP laws, enforce their rights, and defend against infringement. Intellectual property lawyers are crucial in conducting IP searches, filing and prosecuting applications, drafting licensing agreements, and representing clients in IP disputes. Moreover, rapid globalization and the expansion of international markets have increased the need for legal services that can handle IP protection on a global scale. Businesses operating across borders must navigate varying legal frameworks and enforce their IP rights in multiple jurisdictions, necessitating the expertise of legal professionals with international IP knowledge.

Region Overview:

In 2022, the share of the Legal Services market in North America stood at 51.85%.

Company Overview:

Kirkland & Ellis LLP is one of the major players operating in the Legal Services market, holding a share of 0.86% in 2023.

Segmentation Overview:

As for product types, the Others segment held the largest market share in 2022.

Application Overview:

By application, the SMEs segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Legal Services market covered in Chapter 3:

Gibson Dunn
Latham & Watkins LLP
Clifford Chance LLP
Allen & Gledhill LLP
White & Case
Nishimura & Asahi
Beijing Yingke Law Firm
Dacheng Law Offices
Tilleke & Gibbins
Amarchand & Mangaldas & Suresh A. Shroff & Co
Morgan, Lewis & Bockius LLP
Sidley Austin LLP
DLA Piper
Rajah & Tann
Skadden, Arps, Slate, Meagher &Flom LLP and Affiliates
Baker & McKenzie
Borenius
Linklaters LLP
Allen & Overy LLP
Kim & Chang
Kirkland & Ellis LLP
KPMG
Advokatfirman Vinge KB

In Chapter 4 and Chapter 14.2, on the basis of types, the Legal Services market from 2019 to 2030 is primarily split into:

Mergers and Acquisitions Legal Services
Immigration & Mobility Legal Services
Intellectual Property Legal Services
Taxation
Labor/Employment
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Legal Services market from 2019 to 2030 covers:

Large Enterprises
SMEs
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)