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North America Dominates The Legal Services Market By vamshi krishna

  in Marketing | Published 2019-01-02 12:42:46 | 33 Reads | Unrated


The legal services market is expected to reach around $1 billion by 2021, growing at a CAGR of less than 5% in the forecast period.

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Legal services companies advise clients 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.

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The Legal services industry can be segmented into the following segments, according to the types of service:

B2B Legal Services Practices deal with the body of law that governs the disputes between businesses.

B2C Legal Services Practices deal with the body of law that governs disputes between individuals.

Hybrid (B2B B&C) legal practices deal with the body of law that governs the disputes between businesses and individuals.

The Criminal Law Practices market is also covered under market segments.

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B2B Legal Services was the largest segment in the law firm industry with nearly 48% of the market.

North Americas was the largest region in the legal services market in 2017, accounting for about $420 billion of the total. This was due to a rise in number of mergers and acquisitions and increased demand for legal services in areas of litigation, tax and finance.

TBRC’s report also lists the latest law firm trends in the market.

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