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Legal Services
Market, Supplier, Risk and
Competitive Intelligence

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Manage Legal Services Category with Ai powered
Procurement Productivity Suite

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Abi will answer all Legal Services related
procurement queries with relevant data points

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Get up-to-date market and supplier info on Legal Services to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Manage Risk

Assess Supplier Risk based on key risk and compliance parameters

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

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Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

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Assess Category Performance

Benchmark your category performance against peers and the market

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Source Market Indices

Get information on key factors affecting your supply

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

Meet Abi

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Discover Market Info

manage-risk

Manage Risk

performance

Find Suppliers

suppliers

Assess Category Performance

indices

Source Market Indices

Abi will answer all Legal Services related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

Get up-to-date market and supplier info on Legal Services to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

Assess Supplier Risk based on key risk and compliance parameters

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

Benchmark your category performance against peers and the market

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

Get information on key factors affecting your supply

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Legal Services Category Intelligence

Report Coverage

Market Trends
Technology & Innovation Trends
Global Supplier List and Capabilities
Mergers and Acquisitions

Market Size

Market Size North America

$310 Bn

Market Size Europe

$232 Bn

Market Size Asia Pacific

$130 Bn

Market Size LATAM

$58 Bn

Legal Services Market Overview

The maturity of legal service providers in North America and Europe is high as they command the highest market share. More than 60 percent of the legal services spend is concentrated in the developed legal markets of North America and Europe. The APAC has the highest growth potential, with many legal service providers in the fray. Increasing demand for transactional practice areas such as corporate work, real estate, and tax work is driving demand for legal services. There is also a trend to adopt AFAs to introduce billing models.

The report also discusses various industry trends in regions such as North America, Europe, and the APAC, followed by an overview of various drivers and constraints impacting the industry. It also provides a regional market outlook in areas such as North America, Europe, and the APAC, followed by a discussion of various factors affecting legal services. The report also provides Porter's five forces analysis on factors such as supplier power, buyer power, barriers to new entrants, the intensity of rivalry, and the threat of substitutes.

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Legal Services Market Trends

Category Intelligence on Legal Services covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

Table of Contents

Legal Services Executive Summary
Global Legal Service Market
Corona Virus – Impact on Legal Services

Legal Services Market Analysis
Market Maturity and Trends
Drivers and Constraints
Regional Market Outlook
Porter's Five Forces Analysis

Legal Services Cost and Pricing Analysis
Cost Structure
Pricing Analysis

Legal Services Procurement Best Practices
Sourcing Models
Engagement Models
PSL Strategy
Pricing Models
Best Practices for Outside Counsel Management
KPIs

Billing Rate Benchmarking
Average Indicative Billing Rates: U.S. and UK
Key Factors Impacting Rates for Legal Services
Billing Rates: Methodology

Negotiation Support Inputs
Negotiation Levers
Cost-saving Opportunities

RFP Support Inputs
Purchasing Processes: Invitation to RFP/RFI and Criteria
RFP Requirements/Evaluation criteria

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Industry Outlook & Drivers

Legal Services Global Industry Outlook

In 2019, the global legal industry was valued approx. $730 billion, and it is expected to decline at approx. -0.8 percentto reach $724–725 billion in 2020.

BREXIT Impact on Sourcing Legal Services

Impact Area: Law Firms Providing Employment as a Practice Area and Legal Service Buyers Operating in the U.K.

The UK's decision to leave the EU is likely to have a significant impact on employment law practice. If the U.K. agrees to negotiate a bespoke relationship, the government would be at liberty to depart from EU employment law by repealing and amending legislation and the decisions of the European Court of Justice (ECJ) will not be binding in U.K. courts.
This change will result in a lot of legal and commercial activity and a surge in demand for employment lawyers in light of expected renegotiations of contracts. One of the main tasks for lawyers in this transitional phase will be to examine current employment contracts and terminate those that are no longer valid

Legal Services Global Market Maturity

The maturity of legal service providers in North America and Europe is high, as they command the highest market share. More than 60 percent of the legal spend is concentrated in the developed legal markets of North America and Europe. The APAC region has the highest potential for growth, with many global legal service providers entering the fray.

Legal Services Global Drivers and Constraints

Increasing demand for transactional practice areas, like corporate work, real estate and tax work, is driving the demand for legal services. There is a mounting pressure to adopt AFAs and usher in transparency to billing models. These are some major challenges hampering the industry.

Law firms (outside counsel)
Sufficient recovery from the recession and Eurozone crisis has acted as a catalyst in improving the demand scenario for legal services.
Increasing demand for transactional practice areas, like corporate work, real estate, and tax work, is driving the demand for legal services.
Increasing demand from the emerging markets, like the APAC region and the Middle East, has also been driving the demand for legal services. LPO
Cost reduction and the need for better utilization of internal legal staff for strategic services have led to more work being outsourced to LPO units in low-cost destinations.
Favourable government policies, measures taken to liberalize and deregulate policies, reduced licensing requirements and the prospective removal of restrictions on Foreign Direct Investments (FDIs) are driving the need for work to be outsourced to low-cost offshore destinations.

Law firms (outside counsel)
Mounting pressure to adopt alternative fees to bring transparency to billing models is acting as a constraint in the legal service industry.
Increased budgetary pressure to reduce outside counsel spending acts as a deterrent.

Why You Should Buy This Report

It provides information about the global legal market size, market maturity, industry trends, regional and global market outlook, etc.
It lists out the industry drivers and constraints and provides the Porter’s five force analysis of the legal market.
It provides insight into supply trends, supply landscape, tiering of law firms, etc. and does a SWOT analysis of key players like Latham & Watkins, DLA Piper, Baker & McKenzie, etc.
The report provides the pricing structure, pricing analysis and legal spend benchmarking in the global legal services market.
The report shows the best legal market engagement, pricing and sourcing models, PSL strategy, KPIs, etc.

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