US Legal Services Market Size (2024 - 2029)

The market size of the US Legal Services is expected to grow in the coming years, thanks to the increasing use of cutting-edge technology such as AI in legal services. The COVID-19 pandemic has forced the legal industry to go digital, making law firms more productive and efficient. Despite the pandemic acting as a restraint initially due to lockdowns and trade restrictions, it led to an increased demand for civil legal services. The US is the largest distributor of legal services globally, with its market size contributing to over half of the total region market size. The industry's growth will also be fueled by a significant emphasis on maintaining transparency in client relationships.

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Market Size of US Legal Services Industry

US Legal Services Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 375.66 Billion
Market Size (2029) USD 427.90 Billion
CAGR (2024 - 2029) 2.64 %
Market Concentration Low

Major Players

US Legal Services Market Major Players

*Disclaimer: Major Players sorted in no particular order
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US Legal Services Market Analysis

The US Legal Services Market size is estimated at USD 375.66 billion in 2024, and is expected to reach USD 427.90 billion by 2029, growing at a CAGR of 2.64% during the forecast period (2024-2029).

The outbreak of COVID-19 acted as a restraint on the US legal services market in 2020 as governments imposed lockdowns and restricted trade, thereby limiting the need for professional services. The COVID-19 pandemic led to an increased demand for civil legal services. The pandemic has forced the legal industry to change court practices and run fully digital, and AI has helped lawyers perform their jobs remotely. Today, the professionals in a law firm can access documents from their homes and arrange a video meeting to analyze and decide on a case. According to the Legal Industry Report 2021, law firms have become more productive and efficient using new technology. According to the survey, 82% of law firms reported that their businesses had fully reopened, and 77% of firms had no plans to reopen.

Many of a law firm's top clients are cutting their legal costs to improve efficiency and profitability. The United States is the largest distributor of legal services globally, with some estimates pegging the US total market size at USD 43 billion, over half of the total region market size. In the coming years, the industry's growth will be fueled by the increasing use of cutting-edge technology in legal services. Artificial intelligence (AI) enables businesses to review contracts in bulk and analyze data to better forecast the results of legal procedures than people. A significant emphasis on maintaining transparency in client relationships is also predicted to result in market development.

US Legal Services Industry Segmentation

Legal Services means services consisting of the provision of legal advice, assistance, or representation, notarial activities, and research-related services. Law firms are operating as legal cells for big corporate firms and offering services to individuals. A complete background analysis of the legal services market in the United States, including the assessment of the economy and contribution of the sectors in the economy, market overview, market size estimation for key segments and emerging trends in the market segments, market dynamics, and insights, along with key statistics, is covered in the report. The legal services market is Segmented by end users (legal aid consumers, private consumers, SMEs, charities, large businesses, and government), by application ( corporate, financial and commercial law, personal injury, commercial and residential property, wills, trusts and probate, family law, employment law, criminal law, and other applications), by services (representation, advice, notarial activities, and research). The report offers Market size and forecasts for US Legal Services Market in value (USD Billion) for all the above segments.

By End User
Legal Aid Consumers
Private Consumers
SMEs
Charities
Large Businesses
Government
By Application
Corporate, Financial, and Commercial Law
Personal Injury
Commercial and Residential Property
Wills, Trusts, and Probate
Family Law
Employment Law
Criminal Law
Other Applications
By Service
Representation
Advice
Notarial Activities
Research

US Legal Services Market Size Summary

The US Legal Services Market is projected to witness significant growth in the coming years. The market expansion is primarily attributed to the increasing adoption of advanced technologies in legal services, including Artificial Intelligence (AI). AI has revolutionized the sector by enabling bulk contract reviews and data analysis to forecast legal procedure outcomes more effectively than humans. The focus on maintaining transparency in client relationships is also expected to contribute to market growth. However, the COVID-19 pandemic has posed challenges to the market, with lockdowns and trade restrictions limiting the need for professional services. Despite this, the pandemic has also led to increased demand for civil legal services and forced the industry to adapt to digital operations. In addition to this, the market is also influenced by the rising instances of security breaches in law firms. These breaches, often in the form of ransomware attacks, pose a significant threat to the sector due to the sensitive client information handled by law firms. This has made legal service companies attractive targets for hackers. To counter this, many law firms are increasingly leveraging AI to assist with tasks such as document review, contract analysis, legal research, and case outcome prediction. This not only enhances efficiency but also allows legal professionals to focus more on the strategic needs of a case. Despite the challenges, the US continues to be a major player in the global legal services market.

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US Legal Services Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain/Supply Chain Analysis

    5. 1.5 Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insight on Various Government Regulation Shaping the Market

    7. 1.7 Insight on Technological Innovation in the Market

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End User

      1. 2.1.1 Legal Aid Consumers

      2. 2.1.2 Private Consumers

      3. 2.1.3 SMEs

      4. 2.1.4 Charities

      5. 2.1.5 Large Businesses

      6. 2.1.6 Government

    2. 2.2 By Application

      1. 2.2.1 Corporate, Financial, and Commercial Law

      2. 2.2.2 Personal Injury

      3. 2.2.3 Commercial and Residential Property

      4. 2.2.4 Wills, Trusts, and Probate

      5. 2.2.5 Family Law

      6. 2.2.6 Employment Law

      7. 2.2.7 Criminal Law

      8. 2.2.8 Other Applications

    3. 2.3 By Service

      1. 2.3.1 Representation

      2. 2.3.2 Advice

      3. 2.3.3 Notarial Activities

      4. 2.3.4 Research

US Legal Services Market Size FAQs

The US Legal Services Market size is expected to reach USD 375.66 billion in 2024 and grow at a CAGR of 2.64% to reach USD 427.90 billion by 2029.

In 2024, the US Legal Services Market size is expected to reach USD 375.66 billion.

US Legal Services Market Report Snapshots

US Legal Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)