• Home »
  • Big stories »
  • Global legal services market valued at nearly $600 billion

22 May 2017 at 08:59 BST

Global legal services market valued at nearly $600 billion

The global legal services market had total revenues of $584.4bn in 2016 and over six million practitioners.

Jakub Jirsak

The trend for large scale mergers in the global market shows little sign of slowing down. Large legal firms are competing to become international and strengthen themselves across multiple markets rather than just their domestic market. Also,  market consumption volume increased by 3.4 per cent between 2012 and 2016, to reach a total of 6.3 million legal professionals in 2016. The findings came from Legal Services Global Industry Guide 2017.

Legal services marketplace

The legal services market includes practitioners  operating in every sector of the legal spectrum. The market's value is calculated as the total revenues received by law companies for services rendered. The global legal services market had total revenues of $584.4bn in 2016, representing a compound annual growth rate (CAGR) of 2.6 per cent  between 2012 and 2016.

 
   
 
 
 

Also read...

European legal ops on the rise

Wolters Kluwer's ELM Solutions General Counsel Barometer reveals major expansion of legal operations in Europe.