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B2B Legal Services Market Report 2023-2032: Market Size, Analysis, Trends And Outlook
B2B Legal Services Market
The Business Research Company's B2B Legal Services Global Market Report 2023 identifies shortage of skilled workforce in the industry as the major driver for the B2B Legal Services market's growth in the forecast period. For completing mergers and acquisitions transactions, the companies require to consult legal firms for finalizing the deal. According to Refinitiv data, the total value of disclosed pending and completed deals in 2021 has already surpassed $3.6 trillion year to date, surpassing the full-year total of $3.59 trillion in 2020.
The global b2b legal services market size will grow from $431.6 billion in 2022 to $459.59 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of b2b legal services is expected to grow from $563.45 billion in 2027 at a compound annual growth rate (CAGR) of 5.2%.
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Major competitors in the B2B Legal Services market are Latham & Watkins LLP, Kirkland & Ellis LLP, DLA Piper, Baker & McKenzie, Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates.
A key trend in the B2B Legal Services market includes legal service firms. Blockchain is open, distributed ledger that record transactions between the two association or companies efficiently and permanent way. According to a law firm research report in 2020, 41% of law firms will employ blockchain in transactional legal services, 21% for business assistance, and the remaining 31% for high-value legal services. Smart contracts are created digitally and verifiable since they are on the blockchain. Smart contracts help lawyers spend more time on legal advising instead of drafting legal documents. For instance, Chainlink is a start-up that developed technology that relies on data from multiple sources and makes smart contracts more attractive.
Read More On The Global B2B Legal Services Market Report Here:
https://www.thebusinessresearchcompany.com/report/b2b-legal-services-global-market-report
The B2B Legal Services market is segmented -
• By Service Type: Civil or Criminal, Mergers and Acquisitions, Business Transactions, Other Services
• By End-user: Listed Corporations, Government Institutions, Small and Medium-sized Enterprises, High Net worth Individuals, Other End-Users
• By Size of Law Firm: Large law firms, SME law firms
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the B2B Legal Services market.
The Business Research Company's "Global B2B Legal Services Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The B2B Legal Services Market Include:
1. Executive Summary
2. B2B Legal Services Market Characteristics
3. B2B Legal Services Market Trends And Strategies
4. Impact Of COVID-19 On B2B Legal Services
5. B2B Legal Services Market Size And Growth
…………………………………………………….
26. Africa B2B Legal Services Market
27. B2B Legal Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The B2B Legal Services Market
29. B2B Legal Services Market Future Outlook and Potential Analysis
30. Appendix
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