Know Why Online Legal Services Market Developing Rapidly by Deloitte, Latham & Watkins, Baker & McKenzie, DLA Piper USA, Skadden, Arps, Slate, Kirkland & Ellis, Allen & Overy, and Jones Daymarket for legal services. This market consists largely of moderate and middle income individuals and families who cannot afford the existing high cost of legal fees. As law firms learn how to automate legal services and reduce the level of legal fees the possibility for serving this market becomes realistic and can be a driver of growth for solos and small law firms.
The online legal services market had total revenues of US$668.7 bn in 2018, representing a compound annual growth rate (CAGR) of +3.4% between 2017 and 2019.
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Top Key Players of Online Legal Services Market:
• Latham & Watkins
• Baker & McKenzie
• DLA Piper USA
• Meagher & Flom
• Kirkland & Ellis
• Allen & Overy
• Jones Day
• Sidley Austin
• Lewis & Bockius
North America was the largest region in the Online Legal Services Market in 2018, accounting for around 49% market share. This was due to rise in number of mergers and acquisitions and increased demand for legal services in areas of litigation, tax and finance. Western Europe was the second largest region accounting for around 22% market share. Africa was the smallest region accounting for around 4% market share.
Online Legal Services Market segment by Type: B2B Online Legal Services, B2C Online Legal Services, Criminal law practices, and Hybrid commercial Online Legal Services
Online Legal Services Market segment by Application: Services Industry, Finance Industry, Manufacturing Industry, Energy and utilities Industry, and IT Industry
To provide a stronger and stable business outlook, the Online Legal Services Market regional outlook has been presented by inspecting several industries across different global regions. Those global regions include North America, Latin America, Asia-pacific, Africa and Europe. Some of the prominent players operating in the different countries are holding the highest share of the global Online Legal Services Market. Competitive landscape have been offered by analyzing the competition at the domestic and global level.
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The report also presents the evaluation of the competitive landscape of the market. The leading strategies, collaborations, innovations, and market revenue of the major players has been elaborated in this report. The approvals and insights on the top companies prevalent in the market will enable the reader to get accustomed with the market opportunities that they can tackle with informed and favorable business strategies. A complete study of the competitive landscape of the global Online Legal Services Market have been given, presenting insights into the company profiles, product portfolio, financial status, recent developments, mergers and acquisitions, and the SWOT analysis.
The Threats and Opportunities of Online Legal Services Market:
An increase in the rate of reported violent and nonviolent crimes generally leads to higher demand for legal advice. While the industry specializes in unbundled services, those in trouble with the law may seek online legal services as a first resort. The crime rate is expected to decline in 2019, posing a potential threat to the industry.
The percentage of services conducted online represents the use of the internet for services that consumers and businesses pay for in a physical form. Demand for Online Legal Services Market, including legal services, has increased as internet usage has become more pervasive over the past five years. The percentage of services conducted online is projected to increase in 2019, representing an opportunity for the industry.
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Table of Content:
Chapter 1. Overview of Online Legal Services Market
Chapter 2. Cost Structure Analysis
Chapter 3. Technical Data Analysis
Chapter 4. Overall Market Overview
Chapter 5. Regional Market Analysis
Chapter 6. Global Online Legal Services Market Analysis by Type
Chapter 7. Market Analysis by Application
Chapter 8. Major Vendors Analysis
Chapter 9. Development Trend Analysis of Online Legal Services Market
Chapter 10. Marketing Type Analysis
Chapter 11. Consumer Analysis
Chapter 12. Conclusion
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