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Personal Legal Services Market By Type (Legal Advisory and Advocate Services) and End User (Business and Individuals): Global Opportunity Analysis and Industry Forecast, 2020–2027
| A06720 | Pages: NA | Feb 2021 | 708 Views | | |
| Author(s) : NA | Tables: NA | Charts: NA | Formats*: | |
COVID-19
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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. Personal legal services are generally offered by personal attorneys or advocate companies to support people in legal processes. Personal legal services provide people with workplace rights, marital and family rights, lawsuits for personal injuries, cases regarding private properties, contracts, trusts and power of attorney, litigation, and conflicts.Â
The global personal legal services market is segmented on the basis of type, end user, and region. Based on type, the market is further bifurcated into legal advisory and advocate services. In terms of end user, the market is further sub-divided into business and individuals. Geographically, the global market is divided across North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa.
Key players of the personal legal services market analysed in the research include Latham & Watkins LLP, Baker McKenzie, DLA Piper, (Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates), Clifford Chance LLP, Dentons., Sidley Austin LLP, Hogan Lovells US LLP, and Allen & Overy LLP. They have adopted various strategies including new product launches, collaborations, partnerships, mergers & acquisitions, joint ventures, agreements, and others to gain a stronghold and international presence across the world.Â
Top Impacting Factors
Large number of complexities in legal action proceedings and rise in awareness among individuals regarding personal legal services drive the market growth. However, increase in individual law representatives and stringent government regulations hinder the personal legal services market growth. Moreover, rise in economic growth and growth in demand for legal services in developing countries provide great market opportunities.
Rise in Personal Legal Services Offerings
With an increase in awareness toward law services among individuals, rise in personal legal services have increased in the market. For instance, Waltz Palmer & Dawson, a law firm in Chicago, registered growth in number of requests involving aspects of estate planning such as wills, trusts, and power of attorneys. Furthermore, in the U.S, COVID-19 impact has caused a huge rise in employment claims through personal lawyers in the country.Â
New Improvements to Flourish the Market
Many key players are adopting new strategies to improve their work. For instance, Alternative Legal Service Provider (ALSP), one of the major players in the modern law world, provides services at a reduced cost or with other advantages, including improved customer experience and increased flexibility, in terms of services provided in the market. Globally, 57% of law firms are registered under ALSP. Lower fees and improved services are expected to boost market growth.
Key Benefits of the Report:
- This study presents analytical depiction of the global personal legal services market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global personal legal services market share.Â
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.Â
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.Â
- The report provides a detailed personal legal services market analysis based on the present and future competitive intensity of the market. Â
Market Scope and Structure Analysis:
                   Report Metric |                  Details |
 Market Size Available For Years |  2019-2027 |
 Base Year Considered |  2019 |
 Forecast Period |  2020-2027 |
 Forecast Units |  Value ($) |
 Segments Covered |  Type, End User, and Region |
 Regions Covered | North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East & Africa |
 Companies Covered | Major players analyzed in the report include Latham & Watkins LLP, Baker McKenzie, DLA Piper, (Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates), Clifford Chance LLP, Dentons., Sidley Austin LLP, Hogan Lovells US LLP, and Allen & Overy LLP |
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COVID-19 Scenario Analysis:
- COVID-19 outbreak has caused business interruptions to several legal advisors and law firms.Â
- Lawyers and consultants are still providing services and are working remotely, however, owing to the COVID-19 pandemic, their businesses have collapsed in the market.Â
- Moreover, courts are functional but only with few cases based on crucial concern.Â
- As there is no daily filing of cases and no listing of hearing cases, several attorney firms are left with huge business losses.Â
Key Segments:
                   Segments |               Sub-Segments |
 Type |
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 End User |
|
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Questions Answered in the Personal Legal Services Market Research Report:
- Who are the leading market players active in the global personal legal services market?
- What would be the detailed impact of COVID-19 on the global personal legal services market?
- What current personal legal services market trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the global personal legal services market?
- What are the projections for the future that would help in taking further strategic steps?
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