LONDON, April 24, 2019 (GLOBE NEWSWIRE) -- A report from The Business Research Company shows that the global legal services market size is expected to grow from around $850 billion in 2017 to $1 trillion in 2021 at a growth rate of almost 5%.
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 offices of lawyers, title abstract and settlement offices and offices of notaries.
Rapid progress in technology is a significant trend in the legal services market. It has led to the development of new applications for the legal services industry. These applications help legal services firms enhance their productivity, provide innovative product offerings such as cyber-crime consulting services and improve their service quality. Smartphones, Software-as-a-service and secure, web-based technology allowing legal professionals to work from remote locations and, for instance, access law reports during visits to clients.
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The global legal services market is highly fragmented with many small as well as some larger firms. Latham & Watkins was the largest competitor in the legal services market in 2017, followed by Kirkland & Ellis, Baker & McKenzie, Skadden, Arps, Slate, Meagher & Flom and DLA Piper.
Legal services Global Market Opportunities And Strategies To 2022 is one of a series of new reports from The Business Research Company that provides legal services market overviews, analyzes and forecasts legal services market size and growth for the global legal services market, legal services market share, legal services market players, legal services market size, legal services market segments and geographies, legal services market trends, legal services market drivers and legal services market restraints, legal services market’s leading competitors’ revenues, profiles and market shares. The legal services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches. The Business Research Company has over 300 industry reports, covering over 2400 market segments and 56 geographies.
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