Global B2B Legal Services Market Overview And Prospects
Learn about the global B2B legal services market through The Business Research Company, which provides information on B2B legal services market size, B2B legal services market drivers and restraints, B2B legal services market players, the COVID-19 impact on the B2B legal services market, and more.
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The global B2B legal services market is expected to grow from $390.92 billion in 2021 to $432.67 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The growth in the B2B legal services market 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. The B2B legal services market is expected to reach $610.02 billion in 2026 at a CAGR of 9.0%.
An Increase in the number of mergers and acquisitions are expected to drive innovation in B2B legal services manufacturing, thus driving the market during the forecast period.
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The B2B legal services market consists of the sales of law-related services by entities (organizations, sole traders, and partnerships) that advise corporate clients on the body of law that governs disputes between businesses and represent corporate clients in civil or criminal cases, business transactions and other matters in which legal advice and other assistance are sought. This segment excludes legal services offered during disputes between businesses and individuals. B2B legal services are usually provided by commercial law firms. Clients of commercial law firms include listed corporations, government institutions, small and medium-sized enterprises, and high net worth individuals. Only goods and services traded between entities or sold to end consumers are included.
Global B2B Legal Services Market Segments Include:
By Service Type: Civil or Criminal, Mergers and Acquisitions, Business Transactions, Others
By End-user: Listed Corporations, Government Institutions, Small and Medium-sized Enterprises, High Net worth Individuals, Others
By Size of Law Firm: Large law firms, SME law firms
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the B2B legal services market in 2021.
Legal service firms are using blockchain to provide a secure way to make transactions and record that transparently. Blockchain is open, distributed ledger that record transactions between the two association or companies efficiently and permanent way.
TBRC’s B2B legal services market report covers:
Major Market Players: Latham & Watkins LLP, Kirkland & Ellis LLP, DLA Piper, Baker & McKenzie, Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates, Sidley Austin LLP, Morgan, Lewis & Bockius LLP, Linklaters LLP, Jones Day and Allen & Overy LLP.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The B2B Legal Services Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides B2B legal services market overviews, analyses and forecasts market size, share, B2B legal services market players, B2B legal services market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s B2B legal services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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