The Business Research Company’s Legal Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, February 10, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
TBRC’s legal services market report shows that North America is the largest region in the global legal services market, accounting for 56% of the market in 2020. Western Europe was the second largest region, accounting for 24% of the global market. Africa was the smallest region in the global legal services market.
The legal services market consists of the 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 a team is responsible for the delivery of services to the client. The legal services market is segmented into B2B legal services, B2C services, hybrid services, and criminal services.
The global legal services market is expected to grow from $713.6 billion in 2020 to $734.6 billion in 2021 at a compound annual growth rate (CAGR) of about 2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. According to law firm industry analysis, the offline and online legal services market size is expected to reach $908.7 billion in 2025 at a CAGR of 5%.
Here Is A List Of Similar Reports By The Business Research Company:
Professional Services Market – By Type (Legal Services, Accounting Services And Others), By Region, Opportunities And Strategies – Global Forecast To 2022
B2B Legal Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030
HR Advisory Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.