Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- The report titled "Legal Services Market" has recently added by MarketInsightsReports to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.
The global legal services market is expected to decline from $734.1 billion in 2019 to $728.5 billion in 2020 at a compound annual growth rate (CAGR) of -0.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $845.7 billion in 2023.
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Top Companies in the Global Legal Services Market: Latham & Watkins; Kirkland & Ellis LLP; Baker & McKenzie; Skadden, Arps, Slate, Meagher & Flom; DLA Piper and Other
1) By Type: B2B Legal Services; B2C Legal Services; Hybrid Legal Services; Criminal Law Practices
2) By Size: Large Law Firms; SME Law Firms
3) By End-Users: Individuals; Financial Services; Mining And Oil & Gas; Manufacturing; Construction; IT Services; Others
4) By Type Of Practice: Litigation; Corporate; Labor/Employment; Real Estate; Patent Litigation; Tax; Bankruptcy; Others (Regulatory, M&A, Antitrust, Environmental)
5) By Mode: Online; Offline
North America was the largest region in the global legal services market, accounting for 56% of the market in 2019. Western Europe was the second largest region accounting for 24% of the global legal services market. Africa was the smallest region in the global legal services market.
The legal services market consists of sales of law-related services and related goods by entities (organizations, sole traders and partnerships) that advise clients (individuals, businesses or other entities) 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. Legal services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Legal Services Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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