Dublin, June 27, 2024 (GLOBE NEWSWIRE) -- The "Europe Legal Services - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020-2029" report has been added to ResearchAndMarkets.com's offering.
The European Legal Services Market is estimated at USD 190.42 billion in 2024, and is expected to reach USD 234.69 billion by 2029, growing at a CAGR of 4.27% during the forecast period (2024-2029).
The report covers market insights, including growth drivers like technology adoption and mergers, and restraints such as regulatory challenges and data security. It explores opportunities in virtual services and AI, with value chain analysis and Porter’s Five Forces. The market is segmented by firm size, sector, and services, profiling key companies, and highlighting future trends and developments.
Technology Adoption in the Legal Services Market
The impact of technology on legal work procedures is a reality that has been apparent for some time. The technology used in legal services includes eSignature, contract and document management, IP management, and analysis. Technologies are being deployed to provide legal services at a cheaper, more efficient, and improved standard. Artificial intelligence (AI), natural language processing (NLP), and robotic process automation (RPA) are just some of the tools used to facilitate this, both in business-to-business (B2B) and business-to-consumer (B2C) settings. Furthermore, chatbots are increasingly being used by law firms to assist in the optimization of work processes, saving time and money for both themselves and their clients.
Merger and Acquisitions Expected to Drive the Market
The legal firms in the region practice in different areas such as mergers and acquisitions, corporate, tax, real estate, and litigation and dispute resolution. These areas in various regions vary according to the need for practice. In the European region, the practice of mergers and acquisitions is growing. For instance, the average transaction size across all industries for M&A activities increased to USD 65 million compared to the average of USD 46 million in the same quarter the previous year. This increased demand for legal services is expected to drive the market.
European Legal Services Industry Overview
The competitive landscape analysis provides a detailed strategic analysis of the company's business and performance, such as financial information, revenue breakup by segment, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news. The major companies in Europe's legal services market include Freshfields Bruckhaus Deringer LLP, Baker & McKenzie LLP, Clifford Chance LLP, Allen & Overy LLP, and Mannheimer Swartling Advokatbyra AB.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Technology Adoption in Legal Service Market
4.2.2 Merger and Acquisitions is Driving the Market
4.3 Market Restraints
4.3.1 Regulatory Challenges in the Legal Industry Acts as a Restraints
4.3.2 Increasing Threats of Data Security will Restraint the Market
4.4 Market Opportunity
4.4.1 Adoption of Virtual Services to Interact with the Clients
4.4.2 The Adoption of AI and Data Analytics will Transform the Market to Create Opportunities for the Key Players
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Bargaining Power of Buyers/Consumers
4.6.2 Bargaining Power of Suppliers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Latest Trends and Technological Innovations in the Industry
4.8 Impact of COVID-19 on market
5 MARKET SEGMENTATION
5.1 By Size
5.1.1 Large Law Firms
5.1.2 SME Law Firms
5.2 By Sector
5.2.1 Criminal
5.2.2 Labor/Industrial
5.2.3 Family
5.2.4 Taxation Law
5.2.5 Commercial
5.2.6 Other Sectors
5.3 By Services
5.3.1 Representation
5.3.2 Advice
5.3.3 Notarial Activities
5.3.4 Research
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Freshfields Bruckhaus Deringer LLP
6.1.2 Baker & McKenzie LLP
6.1.3 Clifford Chance LLP
6.1.4 Allen & Overy LLP
6.1.5 Mannheimer Swartling Advokatbyra AB
6.1.6 Deloitte
6.1.7 Kinstellar
6.1.8 Garrigues
6.1.9 Hogan Lovells
6.1.10 DLA Piper*
7 MARKET FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/fztym8
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
