Will AI, Automation, and Data Analytics Open New Doors in the Alternative Legal Service Providers Market in US? - Arizton

The US alternative legal service providers market is expected to grow at a CAGR of over 23% during the period 2019-2025.

Smart resourcing is beginning to trend as the resourcing model is acclimatizing to changing market conditions and evolving to offer an array of options, ranging from elastic and dynamic resources that are used for their proficiency instead of economic benefits to an end-to-end solution that takes over the complete legal functions in a corporate legal department.

Arizton's recent market research report considers the present scenario of the US alternative legal service providers market and dynamics for the period 2019-2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the market.

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Alternative Legal Service Providers Market in US - Dynamics

Here is the list of trends and drivers that are impacting the revenues and profitability in the US alternative legal service providers market:

o Legal Departments in Overdrive
o Expanding Legal Spends
o Prevalence of Dissatisfaction with Law Firms
o Intense Focus on Technology Adoption
o Focus Shifts to Delivery
o Injection of Investments
o The Rise of Self-service Functions
o Blurring Lines between Traditional and Alternative

Alternative Legal Service Providers Market in US - Segmentation

The market research report includes detailed segmentation by products, services, end-user, and geography.
o New Law firms have been the most disruptive players in the market, accounting for major work carried out in the document review and litigation spheres. There is a growing trend of building strong SLAs and utilization of performance metrics.
o Business relationships have become more intricate in recent years. Organizations are looking to improve operational efficiency and reduce the risk of bringing contract management from an admin arena to the front.
o A shift in focus from brand status and services to efficacy, providing high viability on investments. The demand for document review and legal research continues to grow significantly. In an age where customer-centricity and differentiation are vital, several players are increasingly examining cost-benefit trade-offs.

Market Segmentation by Providers
o New Law Companies
o Captive LPOs
o Staffing/Recruiting and Contract Lawyer Companies
o Others
Market Segmentation by Services
o eDiscovery
o Investigation and Litigation Support
o Contract Management
o Document Review and Coding
o Legal Research
o Regulatory Risk and Compliance
o Others
o Urban
Market Segmentation by End-users
o Law Firms
o Corporations
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Alternative Legal Service Providers Market in US - Vendor Landscape

Alternative legal service providers have essentially entered the landscape around 2000, evolving with spurts across two time periods: from 1999-2007 wherein outsourcers such as Axiom, Integreon, and Exigent made their way into the market. The market is witnessing a growing number of global law firms, which are imparting credibility to the concept of legal service delivery. With clients increasingly moving further afield in the Rogers Diffusion Curve, lawyers and law firms will account for a less dominant share.

Prominent Vendors
o Allen & Overy
o Axiom
o Elevate
o UnitedLex
Other Prominent Vendors - BlackStone Discovery, Clifford Chance, Consilio, Driven, Epiq, Everlaw, Exigent, Greenberg Traurig, Integreon, KLDiscovery, LegalZoom, Lawyers on Demand (LoD), Mindcrest, Reed Smith, Legility, Lumen Legal, Morae Global, Orrick, QuisLex, and Thomson Reuters.

Alternative Legal Service Providers Market in US - Table of Contents

1 Research Methodology
2 Research Objectives
3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments
4.4.1 Market Segmentation by Service
4.4.2 Market Segmentation by End-user
4.4.3 Market Segmentation by Provider

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance
7 Introduction
7.1 State of the US Economy
7.2 success Factors
7.3 Trends in the Overall Legal Industry

8 Market Growth Enablers
8.1 Legal Departments in Overdrive
8.2 Expanding Legal Spends
8.3 Prevalence of Dissatisfaction with Law Firms
8.4 Intense Focus on Technology Adoption

9 Market Restraints
9.1 High Data Security and Privacy Concerns
9.2 Lack of Proper Articulation of Client Challenges
9.3 Misplaced Perceptions About Customer Value
9.4 Resistance and Lack of Reconfiguration to Alternative Legal Service Providers

10 Growth Opportunities & Trends
10.1 Focus Shifts to Delivery
10.2 Injection of Investments
10.3 The Rise of Self-service Functions
10.4 Blurring Lines between Traditional and Alternative

11 Market Landscape
11.1 Market Size & Forecast
11.2 Five Forces Analysis
11.2.1 Threat of New Entrants
11.2.2 Bargaining Power of Suppliers
11.2.3 Bargaining Power of Buyers
11.2.4 Threat of Substitutes
11.2.5 Competitive Rivalry

12 US Alternative Legal Service Providers Market by Service
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 e-Discovery
12.3.1 Market Size & Forecast
12.4 Investigation and Litigation Support
12.4.1 Market Size & Forecast
12.5 Contract Management
12.5.1 Market Size & Forecast
12.6 Document Review and Coding
12.6.1 Market Size & Forecast
12.7 Legal Research
12.7.1 Market Size & Forecast
12.8 Regulatory Risk and Compliance
12.8.1 Market Size & Forecast
12.9 Others

13 US Alternative Legal Service Providers Market by Provider
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 New Law Companies
13.3.1 Market Size & Forecast
13.4 Staffing and Contract Lawyer Companies
13.4.1 Market Size & Forecast
13.5 Captive LPOs
13.5.1 Market Size & Forecast
13.6 Others
13.6.1 Market Size & Forecast

14 US Alternative Legal Service Providers Market by End-User
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Law Firms
14.3.1 Market Size & Forecast
14.3.1 Large Firms - Market Size & Forecast
14.3.2 Mid-sized Firms - Market Size & Forecast
14.3.3 Small Firms Market Size & Forecast
14.4 Corporations
14.4.1 Market Size & Forecast

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About Arizton Advisory & Intelligence

Arizton - Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including -Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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