Size of the global legal services market 2015-2023

In 2021, the global legal services market is projected to recover and reach 767.1 billion U.S dollars after the COVID-19 outbreak, which led to an economic slowdown all over the world and a decrease in the market size of legal services to 728.5 billion U.S. dollars in 2020.

Legal services

The legal services market includes both dedicated law firms and in-house legal teams. Developed countries dominate the industry; in 2018, the United States accounted for almost half of the global market and Europe for just over one quarter. However, growth in the Asian market is expected to outpace that of North America and Europe over coming years. Some analysts link this to growth in the Chinese market and the increasing outsourcing of legal services by North American and European companies to countries with lower costs (notably India).

Technology in legal services

Jobs in the legal services industry may be impacted by technological advancements. Around half of U.S. law firms reported using technology to replace human resources – a figure that has remained constant for the last three years. A similar story applies to in-house legal teams, with just over half of U.S. companies reporting in a 2018 survey that they use technology-assisted document reviews and around 30 percent reported automating legal processes. Moreover, industry responses to technology seem to be positive. In a 2018 survey of senior lawyers in Singapore, an overwhelming majority agreed that legal technology improves service delivery, reduces costs and is crucial to the future of the industry.

Size of the legal services market worldwide from 2015 to 2023

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Sources

Release date

2020

Region

Worldwide

Survey time period

2015 to 2019

Supplementary notes

Values are estimates.
* This Statista estimate is based on the 2019 values and the compound annual growth rate from 2015 to 2019 of 5%, which were provided by the source. An exponential development of the market was assumed.
** This Statista estimate is based on the 2023 values and the compound annual growth rate from 2021 to 2023 of 5%, which were provided by the source. An exponential development of the market was assumed.

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Statistics on "Legal services in the U.S."

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