$730 billion, and it is expected to decline at approx. The legal system generates a huge and ever-increasing amount of data. Legal Forces at Play. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. • Still key constraints and market practices limiting revenues and profits. Market Size & Industry Statistics. • U.S. legal services industry has grown to an estimated $150B annually • Doubling every twenty years over the last century. The legal services industry in the United States generated 256.66 billion U.S. dollars in revenue in 2013. This article represents a collaboration from authors across McKinsey’s Financial Services Practice, including Todd Babbitz, Albert Bollard, Alex D’Amico, Gabriella Garbasz, Suhrid Gajendragadkar, Aisling O’Rourke, and Chandni Sachdeva. This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. Industry Outlook & Drivers Legal Services Global Industry Outlook. 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 report analyzes the top players in the world market, and divides the content type solution market by product type and application / end industry. In 2019, the global legal industry was valued approx. Each new case brought to court (and there are 350,000 in the US alone each year) increases the body of knowledge that a … -0.8 percentto reach $724–725 billion in 2020. The COVID-19 challenge is unprecedented, both for the economy and for aspects of the legal system. Personal Legal Services Market Outlook – 2027 The personal legal services market has experienced substantial growth in past few years, and is expected to grow at a significant rate during the forecast period. Get up to speed on any industry with comprehensive intelligence that is easy to read. The total U.S. industry market size for Legal Services: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size. Before we dive into the Five Forces analysis for the legal industry, we’d like to provide some context. Personal legal services are generally offered by personal attorneys or advocate companies to support people in legal processes. The global Legal Services Market share is segmented into several classifications including revenue, application and region. For the purpose of this study, Grand View Research has segmented the global legal process outsourcing market report on the basis of location, service, and region: Find industry analysis, statistics, trends, data and forecasts on Online Legal Services in the US from IBISWorld. By 2018, this revenue is expected to increase to approximately 288 billion. Consider the following quotes that all more or less focus on the demand for legal services: — “One of the biggest challenges stems from the aftermath of the ‘big recession’ of 2007-2008. BREXIT Impact on Sourcing Legal Services