in ,

Global Legal Services Market Report 2022: Technological Disruptions in the Legal Industry Drive Growth – ResearchAndMarkets.com

Advertisements

DUBLIN–()–The “Global Legal Services Market Size, Trend and Share Analysis Report by Services (Tax, Real Estate, Litigation, Bankruptcy, Labor/Employment, Companies), by Company Size, by Vendors and Segment Forecasts, 2022-2030″ report has been added to ResearchAndMarkets.com offer.

The global legal services market size is projected to reach USD 1.36 trillion by 2030, growing at a CAGR of over 5.3% during the forecast period. The growing use of the latest technologies in the provision of legal services is expected to drive the growth of the market. A strong value of transparency in the relationship with customers is also projected to guide the development of the market.

Chatbots are increasingly being adopted by law firms to help them streamline their work processes and save time and money for themselves and their clients. Chatbots can assist law firms with a variety of tasks, including digitizing data and searching for lawyer-specific documents and other tasks. Chatbots can also assist in following up on unresponsive customers and gathering essential information through automated conversations.

Law firms are looking for different ways to assist their clients in minimizing compliance risk and costs, assisting them in better information management, paving the way for the adoption of document automation software in legal services. End users are guided through a questionnaire to gather the necessary data and route them through the entire document formation process via document automation software. End users are relieved of the time-consuming task of deciphering document terminology with this method.

Social networking has the potential to completely change the way legal services are delivered. As a result, legal professionals use a variety of social media tools to perform a myriad of legal tasks even as they pursue their career aspirations. Social networking platforms, including Facebook, Twitter and LinkedIn, primarily help legal professionals connect with a wider audience.

Legal Services Market Report Highlights

  • The business segment is expected to be the largest service segment during the forecast period, as discussions about employee harassment, organizational discrimination audits, and copyright infringement and patent infringement continue to mount.

  • Due to the increased opportunities for lawyers in both large and small and medium-sized businesses, the segment of private practice lawyers is expected to grow significantly during the forecast period.

  • Law firms are changing their hiring practices to meet the changing needs of their clients.

  • Law firms are partnering with professional service providers to provide unified and diverse services to their clients.

Market dynamics

Market drivers

  • Technology disruptions in the legal sector

  • Growth of alternative legal service providers

Market restrictions

  • Regulatory challenges in the legal sector

Main topics covered:

Chapter 1 Methodology

Chapter 2 Executive Summary

Chapter 3 Legal Services Market Industry Outlook

Chapter 4 Legal Services Market Type of Service Outlook

Chapter 5 Legal Services Market Company Size Outlook

Chapter 6 Legal Services Market Vendor Perspectives

Chapter 7 Legal Services Market Regional Perspectives

Chapter 8 Competitive landscape

Companies mentioned

  • Baker & McKenzie

  • Clifford Chance LLP

  • Deloitte

  • DLA Piper

  • Ernst & Young (EY)

  • Kirkland & Ellis LLP

  • KPM extension

  • Latham & Watkins LLP

  • PWC extension

  • Skadden, Arps, Slate, Meagher & Flom LLP and affiliates

For more information on this report visit https://www.researchandmarkets.com/r/jua9wy

Advertisements
Advertisements

What do you think?

Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

Leave a Reply

Stay active this winter for a healthier you

Tech M&A Outlook: What Types of Deals are Getting Done? | Chicago Popular