What are the recent trends in market size and growth for the b2b legal services market?
The B2B legal services market size has grown steadily in recent years. It will grow from $431.43 billion in 2024 to $445.18 billion in 2025 at a compound annual growth rate (CAGR) of 3.2%. The growth in the historic period can be attributed to contract management, dispute resolution, regulatory compliance, globalization and cross-border transactions, risk management.
The B2B legal services market size is expected to see steady growth in the next few years. It will grow to $531.7 billion in 2029 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to legal tech and automation, evolving regulatory landscape, focus on ESG (environmental, social, governance), increased M&A activities, international trade challenges. Major trends in the forecast period include data privacy and cybersecurity, technological integration, virtual law firms and remote services, specialization in niche industries, alternative fee arrangements.
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What are the key forces behind the b2b legal services market’s growth in recent years?
The increase in cybercrime cases is anticipated to drive the growth of the business-to-business (B2B) legal services market going forward. Cybercrime refers to criminal activities that are carried out using computers, computer networks, and the internet and have serious consequences, including financial losses, damage to reputations, and legal penalties for criminals. Business-to-business (B2B) legal services store and share vast amounts of private data, financial information, and personal information, such as credit card numbers, which become prime targets for cyber-attacks. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, cybercrime reports received in 2022 were 76,000, up from 13% in 2020. Therefore, the increase in the number of cybercrime cases is driving the growth of the business-to-business (B2B) legal services market.
What are the major segments of the b2b legal services market?
The B2B legal services market covered in this report is segmented –
1) By Service Type: Civil Or Criminal, Mergers And Acquisitions, Business Transactions, Other Services
2) By Size Of Law Firm: Large law firms, SME law firms
3) By End-User: Listed Corporations, Government Institutions, Small And Medium-Sized Enterprises, High Net worth Individuals, Other End-Users
Subsegments:
1) By Civil Or Criminal: Civil Litigation Services, Criminal Defense Services, Employment Law Services
2) By Mergers And Acquisitions: Due Diligence Services, Transaction Structuring, Regulatory Compliance Advisory
3) By Business Transactions: Contract Drafting and Review, Intellectual Property Transactions, Real Estate Transactions
4) By Other Services: Regulatory And Compliance Advisory, Dispute Resolution And Mediation, Risk Management Consulting
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Which companies dominate the b2b legal services market?
Major companies operating in the B2B legal services market include Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, KPMG International Cooperative, Kirkland & Ellis LLP, Latham & Watkins LLP, Dentons Corporation, DLA Piper, Baker McKenzie, Skadden Arps Slate Meagher & Flom LLP, Sidley Austin LLP, White & Case LLP, Morgan Lewis & Bockius LLP, Jones Day, Linklaters LLP, Hogan Lovells International LLP, Clifford Chance LLP, Freshfields Bruckhaus Deringer LLP, Norton Rose Fulbright, Mayer Brown, Sullivan & Cromwell LLP, Covington & Burling LLP, Reed Smith LLP, Cleary Gottlieb Steen & Hamilton LLP, Wilmer Cutler Pickering Hale and Dorr LLP, Shearman & Sterling LLP, Allen & Overy LLP, Debevoise & Plimpton LLP, LegalZoom.com Inc., Clasen Law, Belenky Law Firm PLLC, Paul Weiss Rifkind Wharton & Garrison LLP, Gibson Dunn & Crutcher LLP, Fried Frank Harris Shriver & Jacobson LLP, Simpson Thacher & Bartlett LLP, Davis Polk & Wardwell LLP
What major trends will shape the b2b legal services market during the forecast period?
Legal service firms are using blockchain to provide a secure way to make transactions and record that transparently. Blockchain is an open, distributed ledger that records transactions between the two association or companies efficiently and permanent way. According to a WebFX Inc.,a UK based web development agency, 41% of law firms will employ blockchain in transactional legal services. Smart contracts are created digitally and verifiable since they are on the blockchain. Smart contracts help lawyers spend more time on legal advising instead of drafting legal documents. For instance, Chainlink is a start-up that developed technology that relies on data from multiple sources and makes smart contracts more attractive. Blockchain and smart contracts offer several advantages such as secure transactions, transparent records, less paperwork, and more time for advising clients.
What are the key regional dynamics of the b2b legal services market, and which region leads in market share?
The countries covered in the B2B legal services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
What Does The B2B Legal Services Market Report 2025 Offer?
The b2b legal services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Business-to-Business (B2B) Legal Services are legal services provided by law firms or legal practitioners specifically to businesses, addressing a wide range of corporate legal matters such as civil and criminal law, mergers and acquisitions, and business transactions, which are essential for ensuring companies navigate complex legal frameworks effectively and maintain compliance with applicable laws and regulations.
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