Press release
Legal Services Market 2024 - Size, Demand, Trends, Top Companies, Growth Drivers, and Forecast for 2033
Legal Services Market
The Business Research Company presents an extensive market research report on the Legal Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The legal services market size has grown steadily in recent years. It will grow from $796.76 billion in 2023 to $829.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to an increase in government initiatives, growth in divorce rates, the increasing number of cybercrimes and the deregulation of the legal industry..
The legal services market size is expected to see steady growth in the next few years. It will grow to $1006.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to government support, the increasing global drug crises and lawsuits, the growing legal tech industry, and the increasing demand for transactional practice. Major trends in the forecast period include adoption of artificial intelligence, strategic partnerships and acquisitions, the emergence of alternative legal service providers (alsps), launch of legal learning programs and platforms by law firms, law firms investing in data security, technology advancements..
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Key Market Players:
Major companies operating in the legal services market report are Johnson Matthey PLC, BASF SE, Heraeus Holding, Evonik Industries AG, Umicore SA, DSK Legal, Baker McKenzie, Uría Menéndez, Latham & Watkins, Szuchy Ügyvédi Iroda, J Sagar And Associates (JSA), Amarchand and Mangaldas and Suresh A. Shroff and Co, Norton Rose Fulbright, ZICO Law, Allen and Gledhill LLP, Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates, Kim and Lee LLC, King and Wood Mallesons, Dudkowiak and Kopec Business Layers, Jones Day, Nishimura and Asahi, Heskia-Hacmun Law Firm, Beijing Yingke Law Firm, Kirkland & Ellis LLP, Dacheng Law Offices, Kim and Chang, Gleiss Lutz, Luther, Cuatrecasas Gonçalves Pereira, Flick Gocke Schaumburg, BonelliErede, Han Kun Law Offices, Meagher & Flom, Arendt and Medernach, Garlicke and Bousfield, Hogan Lovells, Nagashima Ohno and Tsunematsu, Liouta and Partners Law Firm, Osler, Slate, DLA Piper, Lobo de Rizzo Advogados, Fidal, Elham Ali Hassan & Associates, CGO Finance sp. z o.o., Andrékó Ferenczi Kinstellar Ügyvédi Iroda, Webber Wentzel, Linklaters, SEgorov Puginsky Afanasiev and Partners, India Law Offices LLP, Cravath Swaine & Moore, Tilleke and Gibbins, Arps, VJT and Partners Law Firm, Menwer & Associates, Pinheiro Guimarães, Hoskin & Harcourt, Jun He Law Offices, KPMG, Demarest Advogados, Loyens and Loeff, Sidley Austin LLP, Carpena Advogados Associados, Al Sulaiti law firm, Al Tamami & Co., Heuking Kühn Lüer Wojtek, Alya Al Zeera, ASAR Al Ruwayeh and Partners, Mischcon de Reya, Erward Nathan Sonnenbergs, Afridi & Angell, Garrigues, Cliffe Dekker Hofmeyr, Eversheds Sutherland, Rajah and Tann, B M Musau and Company, Dentons and Pepeliaev Group, Bitala and Co Advocates, Bowmans
Market Drivers:
Due to the increasing incidence of cybercrime, law firms around the world are offering cybercrime legal consulting services to their clients. Cybercrime refers to a crime that is committed using an internet connection and a computer. This includes cyber-stalking, counterfeiting, money laundering, embezzlement, fraud, and tax evasion using the internet and electronic devices. In the UK alone, around $35 billion is the estimated annual cost of cybercrime. Law firms offering cybercrime consulting services employ lawyers, consultants, and ethical hackers who are experienced in handling crisis management, online financial theft, loss of data, data privacy, and intellectual property infringement. Large law firms practicing in the field of data privacy and cybersecurity include Latham & Watkins, DLA Piper, and Skadden, Arps, Slate, Meagher & Flom. Global demand for cybercrime legal consulting services is expected to rise as organizations and individuals become more concerned about cybercrime.
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https://www.thebusinessresearchcompany.com/report/legal-services-global-market-report
The legal services market covered in this report is segmented -
1) By Type: B2B Legal Services, B2C Legal Services, Hybrid Legal Services, Criminal Law Practices
2) By Type Of Practice: Litigation, Corporate, Labor or Employment, Real Estate, Patent Litigation, Tax, Bankruptcy, Others (Regulatory, M And A, Antitrust, Environmental)
3) BY Size: Large Law Firms, SME Law Firms
4) By Mode: Online Legal Services, Offline Legal Services
5) By End User: Individuals, Financial Services, Mining and Oil & Gas, Manufacturing, Construction, IT Services, Others
Sub segments: B2B Legal Services - Large Law Firms, B2B Legal Services - SME Law Firms, B2C Legal Services - Large Law Firms, B2C Legal Services - SME Law Firms, Criminal Law Practices - Large Law Firms, Criminal Law Practices - SME Law Firms, Hybrid Legal Services - Large Law Firms, Hybrid Legal Services - SME Law Firms.
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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