NEW YORK, March 20, 2018 /PRNewswire/ -- Legal services companies advise clients (individuals or corporations) about their legal rights and responsibilities and represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought. Establishments providing legal services include office of lawyers, title abstract and settlement offices and offices of notaries.
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North Americas' legal services market is the largest in the world. It currently accounts for 49.4% of the global legal services market. North America legal services market is dominated by the US. The increased number of mergers and acquisitions activity has driven the legal services market in North America. Western Europe's legal services market is the second largest in the world. It currently accounts for about 21.6% share of the global legal services market. The size of Western Europe's legal system is supported by its tradition of rigorous implementation of legal and regulatory requirements.
By type of service, B2B legal services was the largest segment in 2017, which accounted for about 47.8% of the legal services market. Segmentation by type of service providers includes large law firms and SME law firms. Large law firms hold about 60.8% of the legal services market. Financial services industry was the largest end user of legal services, which accounted for about 40.8% of the global legal services market. By type of practice, litigation was the largest segment, accounted for 31% of the global legal services market.
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Description
Where is the largest and fastest growing market for legal services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The legal services global market report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, porters five force model, pestle analysis, segmentation, regional and country breakdowns, competitive landscape, market shares, customer information, key mergers and acqisitions, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints cover the external factors supporting and controlling the growth of the market.
• Porters five force model covers the threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers and industry competition for the legal services market.
• PESTLE Analysis covers the political, economic, social, technological, legal and environmental factors affecting the legal services market.
• Market segmentation by service breaks down the market into sub markets, including B2B legal services, B2C legal services, criminal law practices and hybrid commercial legal services. Market segmentation is also done by type of service provider, which includes large law firms and SME law firms. The historic and forecast growth rates for these segments are also covered in this report. Base year market segmentation is done for the end-user industry (including services, finance, manufacturing, energy and utilities and IT) and by type of practice (including corporate, tax, real estate, labor, patent litigation and bankruptcy)
• The regional and country breakdown section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets.
• The competitive landscape section gives a description of the competitive nature of the market, market shares, and a description of the leading companies in terms of their offerings, growth strategy and financial performance.
• The customer information and operational insights section covers major surveys conducted on the global legal services market and their implications. It also contains insights from the law firm's point of view
• The report also covers key mergers and acquisitions in the legal services market. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
Scope
Markets covered: 1) By Type of Services - B2B Legal Services, B2C Legal Services, Criminal Law Practices and Hybrid Commercial Legal Services 2) By Type of Service Provider - Large Law firms and SME Law Firms 3) By End- User Industry - Services, Finance, Manufacturing, Energy & Utilities, IT and Others 4)By Type of Practice - Corporate, Tax, Real Estate, Labor/ Employment, Litigation, Patent Litigation and Bankruptcy.
Companies mentioned: Deloitte, Latham & Watkins, Baker & McKenzie, Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom
Countries: USA, UK, Germany, France, Italy, Spain, Russia, Brazil, Australia, China, India, Japan
Regions: Asia-Pacific, North America, South America, Western Europe, Eastern Europe, Middle East & Africa.
Time series: Five years historic and forecast.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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