B2B Legal Services Market Analysis By Service Type(Civil or Criminal, Mergers and Acquisitions, Business Transactions), By Practice(Litigation, Corporate, Labour, Real Estate, Patent Litigation, Tax, Bankruptcy), By Mode(Online, Offline), By End-user(Listed Corporations, Government Institutions, Small and Medium-sized Enterprises, High Net Worth Individuals), By Applications(Individuals, Financial Services, Mining and Oil & Gas, Manufacturing, Construction, It Services) & Forecast 2024-2035
- PUBLISHED ON
- 9/1/2022
- NO OF PAGES
- 269
- CATEGORY
- Others
In 2021, the market for Global B2B Legal Services Market worldwide was worth $ 448.39 billion for the year 2021. AMR Group projects that the market will reach US$ 934.1 billion by 2031, growing at a CAGR of 6.9 % between 2022 and 2031. We are constantly tracking and evaluating the pandemic's direct and indirect effects, taking into account the uncertainties of COVID-19. The report includes these insights as a significant market contributor.
Industry Overview
The B2B legal services market expanded as a result of a rise in the number of mergers and acquisitions. Firms of lawyers must be consulted by businesses in order to close mergers and acquisitions transactions. The data from Refinitiv indicate that the total value of disclosed pending and completed deals in 2021 will surpass $3.6 trillion for the year to date, exceeding the $3.59 trillion for the entire year in 2020. The B2B legal services market was driven by a rise in mergers and acquisitions.
The B2B legal services market is likely to be constrained by the industry's lack of skilled workers. A high rate of employee turnover, ineffective staff management, increased business expenses, and the loss of customers are all consequences of a skilled workforce shortage. 58% of legal organizations are currently experiencing the strain of a lack of competent workers, according to a new study that was conducted by The Lawyer in 2021 to determine the extent of the skills shortage. The B2B legal services market suffers as a result of the firm's output being less effective due to a lack of qualified workers.
Market Dynamics
Companies that provide services like advising corporate clients on the body of law that governs disputes between businesses and representing corporate clients in civil cases, business transactions, and other matters in which corporate clients seek legal advice and other assistance make up the B2B legal services market. Disputes between private parties, such as defamation, professional negligence, inheritance, contract breach, and property disputes, are covered by civil law. Legal services provided in the event of disputes between individuals and businesses are not included in this category. Commercial law firms typically provide B2B legal services. Listed corporations, government agencies, small and medium-sized businesses, and wealthy individuals are among the commercial law firm's clients. The value of related goods sold by the service provider or included in the service offering is included in the market value. This list only includes goods and services that are traded between entities or sold to end users.
Blockchain is being used by legal service providers to provide a transparent and secure method for making and recording transactions. Blockchain is a distributed, open ledger that efficiently and permanently records transactions between two organizations or businesses. In 2020, 41% of law firms will use blockchain for transactional legal services, 21% for business support, and 31% for high-value legal services, according to a law firm research report. The blockchain is where smart contracts are created digitally and can be verified. Smart contracts enable lawyers to devote more time to legal advice rather than document drafting. Chainlink, for instance, is a startup that created technology that makes smart contracts more appealing by utilizing data from multiple sources. Blockchain and smart contracts offer a number of advantages, including transparent records, less paperwork, secure transactions, and more time for client advice.
COVID Impact
The COVID-19 pandemic has shocked every nation on the planet and is still driving the search for scientific and social solutions that will stop the spread of this highly contagious virus. The outbreak is triggering a variety of effects—social, political, environmental, and so on—in addition to causing an economic and humanitarian crisis. on a global level. The pandemic's effects are still unknown, but the global and local justice and legal aid systems have already been impacted, without a shadow of a doubt.
Regional Trend
North America held over 40% of the global market share in terms of geography. Due to the abundance of legal service providers, the United States has emerged as the leading nation in the North American market, with rising assignment volumes within corporate legal departments.
Legal services are also in high demand as a result of the region's rising number of mergers and acquisitions. Due to the prompt implementation of regulatory and legal requirements, particularly in China and India, the Asia-Pacific region held a significant share of the market in 2020. For instance, legal service providers in India have begun providing their corporate clients with sophisticated cross-border judiciary services, presenting the nation with enormous growth opportunities. In addition, service providers such as Baker & McKenzie, Allen & Overy LLP, and Venable LLP have entered the Indian market, which is anticipated to accelerate market expansion in the upcoming years.
Competitive Landscape
The report includes competitive landscape based on the extensive assessment of the product portfolio offering, geographic presence, and key strategic developments adopted by the leading market players in the industry over the past 5 years. The key players profiled are Latham & Watkins LLP, Kirkland & Ellis LLP, DLA Piper, Baker & McKenzie, Skadden, Arps, Deloitte, PWC, KPMG, Slate, Meagher & Flom LLP and Affiliates, Sidley Austin LLP, Morgan, Lewis & Bockius LLP, Linklaters LLP, Venable LLP, Jones Day and Allen & Overy LLP. These players have adopted various growth strategies, such as partnerships and new service launches, to expand their presence further in the different regions and broaden their customer base.
By Service Type
· Civil or Criminal
· Mergers and Acquisitions
· Business Transactions
· Others
By Practice
· Litigation
· Corporate
· Labour
· Real Estate
· Patent Litigation
· Tax
· Bankruptcy
· Other
By Mode
· Online
· Offline
By End-user
· Listed Corporations
· Government Institutions
· Small and Medium-sized Enterprises
· High Net Worth Individuals
· Others
By Applications
· Individuals
· Financial Services
· Mining and Oil & Gas
· Manufacturing
· Construction
· It Services
· Other
By Geography
· North America
· Europe
· Asia-Pacific
· South America
· Middle East and Africa
Key Points:Define, describe and forecast B2B Legal Services product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Historic Year: 2016-2022
Forecast: 2024-2035
1 B2B Legal Services Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of B2B Legal Services
1.3 B2B Legal Services Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of B2B Legal Services
1.4.2 Applications of B2B Legal Services
1.5 Market Exchange Rate
2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source
3 Market Competition Analysis
3.1 Freshfields Bruckhaus Deringer Market Performance Analysis
3.1.1 Freshfields Bruckhaus Deringer Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Freshfields Bruckhaus Deringer Sales, Value, Price, Gross Margin 2016-2021
3.2 Clifford Chance Market Performance Analysis
3.2.1 Clifford Chance Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Clifford Chance Sales, Value, Price, Gross Margin 2016-2021
3.3 Skadden Market Performance Analysis
3.3.1 Skadden Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Skadden Sales, Value, Price, Gross Margin 2016-2021
3.4 Linklaters Market Performance Analysis
3.4.1 Linklaters Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 Linklaters Sales, Value, Price, Gross Margin 2016-2021
3.5 Arps Market Performance Analysis
3.5.1 Arps Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Arps Sales, Value, Price, Gross Margin 2016-2021
3.6 Meagher & Flom LLP Market Performance Analysis
3.6.1 Meagher & Flom LLP Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 Meagher & Flom LLP Sales, Value, Price, Gross Margin 2016-2021
3.7 Slate Market Performance Analysis
3.7.1 Slate Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 Slate Sales, Value, Price, Gross Margin 2016-2021
3.8 Allen & Overy Market Performance Analysis
3.8.1 Allen & Overy Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Allen & Overy Sales, Value, Price, Gross Margin 2016-2021
4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global B2B Legal Services Production and Value by Type
4.1.1 Global B2B Legal Services Production by Type 2016-2021
4.1.2 Global B2B Legal Services Market Value by Type 2016-2021
4.2 Global B2B Legal Services Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Litigation Market Production, Value and Growth Rate
4.2.2 Corporate Market Production, Value and Growth Rate
4.2.3 Labour Market Production, Value and Growth Rate
4.2.4 Real Estate Market Production, Value and Growth Rate
4.2.5 Patent Litigation Market Production, Value and Growth Rate
4.2.6 Tax Market Production, Value and Growth Rate
4.2.7 Bankruptcy Market Production, Value and Growth Rate
4.2.8 Other Market Production, Value and Growth Rate
4.3 Global B2B Legal Services Production and Value Forecast by Type
4.3.1 Global B2B Legal Services Production Forecast by Type 2021-2026
4.3.2 Global B2B Legal Services Market Value Forecast by Type 2021-2026
4.4 Global B2B Legal Services Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Litigation Market Production, Value and Growth Rate Forecast
4.4.2 Corporate Market Production, Value and Growth Rate Forecast
4.4.3 Labour Market Production, Value and Growth Rate Forecast
4.4.4 Real Estate Market Production, Value and Growth Rate Forecast
4.4.5 Patent Litigation Market Production, Value and Growth Rate Forecast
4.4.6 Tax Market Production, Value and Growth Rate Forecast
4.4.7 Bankruptcy Market Production, Value and Growth Rate Forecast
4.4.8 Other Market Production, Value and Growth Rate Forecast
5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global B2B Legal Services Consumption and Value by Application
5.1.1 Global B2B Legal Services Consumption by Application 2016-2021
5.1.2 Global B2B Legal Services Market Value by Application 2016-2021
5.2 Global B2B Legal Services Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Individuals Market Consumption, Value and Growth Rate
5.2.2 Financial Services Market Consumption, Value and Growth Rate
5.2.3 Mining and Oil & Gas Market Consumption, Value and Growth Rate
5.2.4 Manufacturing Market Consumption, Value and Growth Rate
5.2.5 Construction Market Consumption, Value and Growth Rate
5.2.6 IT Services Market Consumption, Value and Growth Rate
5.2.7 Other Market Consumption, Value and Growth Rate
5.3 Global B2B Legal Services Consumption and Value Forecast by Application
5.3.1 Global B2B Legal Services Consumption Forecast by Application 2021-2026
5.3.2 Global B2B Legal Services Market Value Forecast by Application 2021-2026
5.4 Global B2B Legal Services Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Individuals Market Consumption, Value and Growth Rate Forecast
5.4.2 Financial Services Market Consumption, Value and Growth Rate Forecast
5.4.3 Mining and Oil & Gas Market Consumption, Value and Growth Rate Forecast
5.4.4 Manufacturing Market Consumption, Value and Growth Rate Forecast
5.4.5 Construction Market Consumption, Value and Growth Rate Forecast
5.4.6 IT Services Market Consumption, Value and Growth Rate Forecast
5.4.7 Other Market Consumption, Value and Growth Rate Forecast
6 Global B2B Legal Services by Region, Historical Data and Market Forecasts
6.1 Global B2B Legal Services Sales by Region 2016-2021
6.2 Global B2B Legal Services Market Value by Region 2016-2021
6.3 Global B2B Legal Services Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global B2B Legal Services Sales Forecast by Region 2021-2026
6.5 Global B2B Legal Services Market Value Forecast by Region 2021-2026
6.6 Global B2B Legal Services Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa
7 United State Market Size Analysis 2016-2026
7.1 United State B2B Legal Services Value and Market Growth 2016-2021
7.2 United State B2B Legal Services Sales and Market Growth 2016-2021
7.3 United State B2B Legal Services Market Value Forecast 2021-2026
8 Canada Market Size Analysis 2016-2026
8.1 Canada B2B Legal Services Value and Market Growth 2016-2021
8.2 Canada B2B Legal Services Sales and Market Growth 2016-2021
8.3 Canada B2B Legal Services Market Value Forecast 2021-2026
9 Germany Market Size Analysis 2016-2026
9.1 Germany B2B Legal Services Value and Market Growth 2016-2021
9.2 Germany B2B Legal Services Sales and Market Growth 2016-2021
9.3 Germany B2B Legal Services Market Value Forecast 2021-2026
10 UK Market Size Analysis 2016-2026
10.1 UK B2B Legal Services Value and Market Growth 2016-2021
10.2 UK B2B Legal Services Sales and Market Growth 2016-2021
10.3 UK B2B Legal Services Market Value Forecast 2021-2026
11 France Market Size Analysis 2016-2026
11.1 France B2B Legal Services Value and Market Growth 2016-2021
11.2 France B2B Legal Services Sales and Market Growth 2016-2021
11.3 France B2B Legal Services Market Value Forecast 2021-2026
12 Italy Market Size Analysis 2016-2026
12.1 Italy B2B Legal Services Value and Market Growth 2016-2021
12.2 Italy B2B Legal Services Sales and Market Growth 2016-2021
12.3 Italy B2B Legal Services Market Value Forecast 2021-2026
13 Spain Market Size Analysis 2016-2026
13.1 Spain B2B Legal Services Value and Market Growth 2016-2021
13.2 Spain B2B Legal Services Sales and Market Growth 2016-2021
13.3 Spain B2B Legal Services Market Value Forecast 2021-2026
14 Russia Market Size Analysis 2016-2026
14.1 Russia B2B Legal Services Value and Market Growth 2016-2021
14.2 Russia B2B Legal Services Sales and Market Growth 2016-2021
14.3 Russia B2B Legal Services Market Value Forecast 2021-2026
15 China Market Size Analysis 2016-2026
15.1 China B2B Legal Services Value and Market Growth 2016-2021
15.2 China B2B Legal Services Sales and Market Growth 2016-2021
15.3 China B2B Legal Services Market Value Forecast 2021-2026
16 Japan Market Size Analysis 2016-2026
16.1 Japan B2B Legal Services Value and Market Growth 2016-2021
16.2 Japan B2B Legal Services Sales and Market Growth 2016-2021
16.3 Japan B2B Legal Services Market Value Forecast 2021-2026
17 South Korea Market Size Analysis 2016-2026
17.1 South Korea B2B Legal Services Value and Market Growth 2016-2021
17.2 South Korea B2B Legal Services Sales and Market Growth 2016-2021
17.3 South Korea B2B Legal Services Market Value Forecast 2021-2026
18 Australia Market Size Analysis 2016-2026
18.1 Australia B2B Legal Services Value and Market Growth 2016-2021
18.2 Australia B2B Legal Services Sales and Market Growth 2016-2021
18.3 Australia B2B Legal Services Market Value Forecast 2021-2026
19 Thailand Market Size Analysis 2016-2026
19.1 Thailand B2B Legal Services Value and Market Growth 2016-2021
19.2 Thailand B2B Legal Services Sales and Market Growth 2016-2021
19.3 Thailand B2B Legal Services Market Value Forecast 2021-2026
20 Brazil Market Size Analysis 2016-2026
20.1 Brazil B2B Legal Services Value and Market Growth 2016-2021
20.2 Brazil B2B Legal Services Sales and Market Growth 2016-2021
20.3 Brazil B2B Legal Services Market Value Forecast 2021-2026
21 Argentina Market Size Analysis 2016-2026
21.1 Argentina B2B Legal Services Value and Market Growth 2016-2021
21.2 Argentina B2B Legal Services Sales and Market Growth 2016-2021
21.3 Argentina B2B Legal Services Market Value Forecast 2021-2026
22 Chile Market Size Analysis 2016-2026
22.1 Chile B2B Legal Services Value and Market Growth 2016-2021
22.2 Chile B2B Legal Services Sales and Market Growth 2016-2021
22.3 Chile B2B Legal Services Market Value Forecast 2021-2026
23 South Africa Market Size Analysis 2016-2026
23.1 South Africa B2B Legal Services Value and Market Growth 2016-2021
23.2 South Africa B2B Legal Services Sales and Market Growth 2016-2021
23.3 South Africa B2B Legal Services Market Value Forecast 2021-2026
24 Egypt Market Size Analysis 2016-2026
24.1 Egypt B2B Legal Services Value and Market Growth 2016-2021
24.2 Egypt B2B Legal Services Sales and Market Growth 2016-2021
24.3 Egypt B2B Legal Services Market Value Forecast 2021-2026
25 UAE Market Size Analysis 2016-2026
25.1 UAE B2B Legal Services Value and Market Growth 2016-2021
25.2 UAE B2B Legal Services Sales and Market Growth 2016-2021
25.3 UAE B2B Legal Services Market Value Forecast 2021-2026
26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia B2B Legal Services Value and Market Growth 2016-2021
26.2 Saudi Arabia B2B Legal Services Sales and Market Growth 2016-2021
26.3 Saudi Arabia B2B Legal Services Market Value Forecast 2021-2026
27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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