Press release
Legal Services Market Expansion Continues, with Forecast Valuation of $996.4 Billion by 2029
Legal Services
What Is the Expected CAGR for the Legal Services Market Through 2025?
In past few years, the market size of legal services has seen a consistent increase. The market value is expected to rise from $790.14 billion in 2024 to $819.91 billion in 2025, showcasing a compound annual growth rate (CAGR) of 3.8%. The historical growth is attributed to factors such as enhanced government initiatives, rising divorce rates, escalating number of cybercrimes, and deregulation of the legal industry.
What's the Projected Size of the Global Legal Services Market by 2029?
The market size of legal services is predicted to enjoy consistent growth in the coming years, expanding to $996.4 billion in 2029 with a compound annual growth rate (CAGR) of 5.0%. Factors contributing to this anticipated growth in the forecast period involve governmental backing, escalating global drug issues and lawsuits, the flourishing legal tech sector, and the surging demand for transactional practice. Noteworthy trends throughout this forecast period encompass the integration of artificial intelligence, strategic collaborations and takeovers, the rise of alternative legal service providers (ALSPs), the initiation of educational initiatives and platforms for law by law firms, and investments by law firms in data security and technological progressions.
View the full report here:
https://www.thebusinessresearchcompany.com/report/legal-services-global-market-report
Top Growth Drivers in the Legal Services Industry: What's Accelerating the Market?
As the rate of cybercrime escalates, legal firms globally have begun providing their clients with specialised services in cybercrime legal consultation. Fundamentally, cybercrime is an unlawful act facilitated via the internet and a computer, encompassing actions such as cyber-stalking, counterfeiting, online money laundering, online-based embezzlement, internet fraud, and tax evasion through electronic means. Remarkably, in the UK, the annual cost of cybercrime is believed to be around $35 billion. These legal firms offer the service of cybercrime consulting utilizing a team comprised of experienced lawyers, consultants, and ethical hackers. They handle various areas including crisis management, online fiscal theft, data loss, data privacy, and violations regarding intellectual property. Prominent law firms in the area of data privacy and cybersecurity include names like Latham & Watkins, DLA Piper, and Skadden, Arps, Slate, Meagher & Flom. As organizations and individuals grow increasingly wary of cybercrime, the global demand for cybercrime legal consulting services is projected to increase.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3566&type=smp
What Are the Key Trends Driving Legal Services Market Growth?
Top-tier companies in the legal services sector are innovating new products such as generative AI legal platforms to attract a greater number of customers, enhance sales, and boost revenue. Generative AI legal platforms are software tools that utilize artificial intelligence (AI) to aid legal practitioners in their tasks. As an example, in May 2023, the US-based software firm LexisNexis introduced Lexis+ AI, a generative AI platform designed to modernize legal services. Lexis+ AI aims to provide consumers with dependable and comprehensive legal outcomes at an unprecedented speed and accuracy, underpinned by verifiable, citable authority. It leverages the biggest repository of precise and exclusive legal content during its development and training. The latest Lexis+ AI technology employs advanced security and privacy mechanisms to offer features such as conversational search, clever summarization, and intuitive legal writing. Conversational search presents a seamless search experience for various legal matters with citations, making the complex and lengthy task of performing legal research easier and more effective for attorneys.
What Are the Main Segments in the Legal Services Market?
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
Subsegments:
1) By B2B Legal Services: Corporate Law Services, Contract Law Services, Intellectual Property Law Services
2) By B2C Legal Services: Family Law Services, Personal Injury Law Services, Consumer Protection Law Services
3) By Hybrid Legal Services: Alternative Dispute Resolution (ADR), Online Legal Services Platforms, Subscription-Based Legal Services
4) By Criminal Law Practices: Defense Attorney Services, Prosecution Services, Legal Advisory Services For Criminal Cases
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=3566&type=smp
Which Top Companies are Driving Growth in the Legal Services Market?
Major companies operating in the legal services market include 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
Which Regions Will Dominate the Legal Services Market Through 2029?
North America was the largest region in the legal services market in 2024. Western Europe was the second largest region in the legal services market. The regions covered in the legal services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3566
This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Legal Services Market Expansion Continues, with Forecast Valuation of $996.4 Billion by 2029 here
News-ID: 4178501 • Views: …
More Releases from The Business Research Company
Increasing Emphasis On Value-Based Care Fueling The Growth Of The Market Due To …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Healthcare Price Transparency Systems Industry Market Size Be by 2025?
In the past few years, the healthcare price transparency systems market has experienced rapid growth. It is projected to rise from $1.70 billion in 2024 to $2.00 billion in 2025, with a compound annual growth rate…
2025-2034 Genomic Data Clean-Room Platforms Market Outlook: Key Drivers, Emergin …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Genomic Data Clean-Room Platforms Industry Market Size Be by 2025?
In the past few years, the market size for genomic data clean-room platforms has experienced exponential growth. The market is projected to increase from $1.54 billion in 2024 to $1.89 billion in 2025, with a compound…
Global Gene Therapy For Parkinson's Disease Market Projected to Grow at 26.1% CA …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Gene Therapy For Parkinson's Disease Industry Market Size Be by 2025?
The market size for the gene therapy for Parkinson's disease has seen exponential growth lately. The market which stood at $0.51 billion in 2024 is expected to balloon to $0.64 billion in 2025, exhibiting a…
What Is The Leading Driver Behind Rising Demand For Minimally Invasive Cosmetic …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Fractional Radio Frequency (RF) Microneedle Device Industry Market Size Be by 2025?
There has been a swift expansion in the market for fractional radio frequency (RF) microneedle devices in recent times. The market which was valued at $0.91 billion in 2024, is projected to appreciate to…
More Releases for Services
Managed Services by Ensure Services
Ensure Services is a leading managed services provider offering comprehensive IT support and solutions designed to streamline operations, improve efficiency, and reduce operational costs for businesses of all sizes. Our managed services are tailored to meet the unique needs of your organization, ensuring you can focus on your core business while we handle your IT infrastructure.
With years of experience and a team of certified professionals, we deliver proactive monitoring, ongoing…
Electrical Services Market Next Big Thing | Major Giants SSI Electrical Services …
A new business intelligence report released by AMA with title "Electrical Services Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Electrical Services Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and…
North & South America Commercial Services Market 2022 (Employment Services, Offi …
The Business Research Company’s Commercial Services Global Market Report 2019 covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. Ratios of market size and growth to related markets, GDP proportions, and expenditure per capita for the market is detailed in the report. Data and analysis throughout the…
AC Services & Repair, Refrigerator Services & Repair, Washing Machine Services & …
Kunal Repair & Services is growing on-demand home services platform in India and we are currently operating in Gurgaon. We offer an array of services which include AC Services & Repair, Refrigerator Services & Repair, Washing Machine Services & Repair, R.O Services & Repair, Microwave Services & Repair, Geyser Services & Repair. Our operating philosophy for solving this massive problem is - Right price.
To know why we do what we…
Electrical Services Market Technology and Outlook 2023 Top Companies are Allianc …
A report added to the rich database of Qurate Business Intelligence, titled “Global Electrical Services Market Size, Status and Forecast 2023”, provides a 360-degree overview of the worldwide market. Approximations associated with the market values over the forecast period are based on empirical research and data collected through both primary and secondary sources. The authentic processes followed to exhibit various aspects of the market makes the data reliable in context…
Electrical Services Market Size 2018: Alliance Electrical Services, Housejoy, Te …
In 2017, the global Electrical Services market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2018-2025.
This report focuses on the global Electrical Services status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Electrical Services development in United States, Europe and China.
Get Sample Copy of this report @ http://www.orbisresearch.com/contacts/request-sample/2311492…
