Global Legal Services Market Report 2022, with Latham & Watkins, Kirkland & Ellis, DLA Piper, Baker & McKenzie and Morgan –

DUBLIN–(BUSINESS WIRE)–The report “Legal Services Global Market Report 2022” has been added to from offer.

The global legal services market is expected to grow from $713.12 billion in 2021 to $788.94 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The market is expected to reach $1112.75 billion in 2026 at a CAGR of 9.0%.

North America was the largest region in the legal services market in 2021. Western Europe was the second largest region in the legal services market. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Globally, changes in political structure, legal reforms and trade agreements are creating opportunities for law firms. International companies and organizations are required to comply with the various laws and regulations of different countries and specific trade agreements. Changes in the legal structure of intrastate agreements increase the demand for legal services.

Law firms around the world are offering cybercrime legal advisory services to their clients, due to the growing incidence of this type of crime. Cybercrime refers to a crime committed using an Internet connection and a computer. This includes cyber-harassment, 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 experienced in crisis management, online financial theft, data loss, data privacy and trespass intellectual. Major law firms practicing in the area of ​​data privacy and cybersecurity include Latham & Watkins, DLA Piper and Skadden, Arps, Slate, Meagher & Flom. The growing concern of organizations and individuals regarding cybercrimes is expected to increase the global market for cybercrime legal advisory services.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces historical and forecast market growth by geography. It places the market in the context of the broader legal services market and compares it to other markets.

  • The market characteristics section of the report defines and explains the market.

  • The market size section gives the market size (in billions of dollars) covering both the historical market growth, the impact of the COVID-19 virus and the forecast of its recovery.

  • Market segmentations break down the market into sub-markets.

  • The regional and country breakdowns section gives an analysis of the market in each geography and the market size by geography and compares their historical and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, major developed countries and major emerging markets.

  • The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the major companies. The main financial transactions that have shaped the market in recent years are identified.

  • The trends and strategies section analyzes the shape of the market coming out of the crisis and suggests how companies can grow as the market recovers.

  • The legal services market section of the report provides context. It compares the legal services market with other segments of the professional services market by size and growth, historical and forecast. It analyzes the proportion of GDP, expenditure per capita, comparison of indicators of legal services.

Report scope

Covered markets:

  • By type: B2B legal services; B2C legal services; Hybrid legal services; Criminal law practices

  • By size: large law firms; SME law firms

  • By end users: individuals; Financial services; Mining and Oil & Gas; Manufacturing; Construction; IT services; Others

  • By type of practice: Litigation; Business ; Labour/Employment; Real estate; Patent litigation; Tax; Bankruptcy; Others (Regulatory, M&A, Antitrust, Environment)

  • By mode: online; Offline

Metrics Covered: number of companies; number of employees

Regions: Asia Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five-year history and ten-year forecast.

Data: Ratios of market size and growth to related markets, proportions of GDP, expenditure per capita, comparison of legal services indicators.

Data segmentation: historical and forecast national and regional data, competitor market share, market segments.

Companies cited

  • Latham & Watkins LLP

  • Kirkland & Ellis LLP

  • Piper DLA

  • Baker & McKenzie

  • Denton

  • Skadden

  • Arpes

  • Slate

  • Meagher & Flom LLP and Affiliates

  • Sidley Austin LLP

  • Morgan

  • Lewis & Bockius LLP

  • Linklaters LLP and Jones Day

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