Press release
Global B2B Legal Services Market: Steady Growth and Notable Trends for 2024-2029
B2B Legal Services Market Size
• The B2B legal services market will grow from $431.43 billion in 2024 to $445.18 billion in 2025 at a CAGR of 3.2%. The growth stems from contract management, dispute resolution, risk management, regulatory compliance, and globalization.
• By 2029, the market is expected to reach $531.7 billion with a CAGR of 4.5%. The growth during this period will be driven by legal tech and automation, evolving regulatory landscape, ESG focus, increased M&A activities, and international trade challenges.
What Is Driving the Growth in the B2B Legal Services Market?
A significant factor driving the growth of the B2B legal services market is the surge in cybercrime cases. Cybercrimes target businesses focusing on their vast databases of private data, financial information, and personal information, making them prime targets. For example, according to the Australian Cyber Security Centre, the cybercrime reports received in 2022 were 76,000, marking an increase of 13% from 2020. Therefore, this rise in cybercrime cases is pushing the demand for B2B legal services.
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Who Are the Key Players Driving B2B Legal Services Market Growth?
• Deloitte Touche Tohmatsu Limited
• PricewaterhouseCoopers International Limited
• KPMG International Cooperative
• Kirkland & Ellis LLP
• Latham & Watkins LLP
• Dentons Corporation
• DLA Piper
• Baker McKenzie
• Skadden Arps Slate Meagher & Flom LLP
• Sidley Austin LLP, White & Case LLP
• Morgan Lewis & Bockius LLP
• Jones Day
• Linklaters LLP, Hogan Lovells International LLP
• Clifford Chance LLP
• Freshfields Bruckhaus Deringer LLP
• Norton Rose Fulbright
• Mayer Brown
What Are The Key Trends In The B2B Legal Services Market?
Key trends in the B2B legal services market include:
• Data privacy and cybersecurity
• Technological integration
• Virtual law firms and remote services
• Specialization in niche industries
• Alternative fee arrangements
What Are The Segments Of The Global B2B Legal Services Market?
• By Service Type: Civil Or Criminal, Mergers And Acquisitions, Business Transactions, Other Services
• By Size Of Law Firm: Large law firms, SME law firms
• By End-User: Listed Corporations, Government Institutions, Small And Medium-Sized Enterprises, High Net worth Individuals, Other End-Users
Which Region leads the global B2B Legal Services Market?
North America was the largest region in the B2B legal services market in 2024, followed by Western Europe. These two regions dominate the global B2B legal services market due to their robust legal infrastructure and high level of commercial activities.
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What Is Covered In The B2B Legal Services Market Global Market Report?
Market Size Analysis: Analyze the B2B Legal Services Market size by key regions, countries, product types, and applications.
Market Segmentation Analysis: Identify various subsegments within the B2B Legal Services Market for effective categorization.
Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
Market Contribution: Evaluate contributions of different segments to the overall B2B Legal Services Market growth.
Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
Industry Challenges: Analyze challenges and risks affecting the B2B Legal Services Market.
Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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