Litigation Services Market - Key Trends & Industry Highlights

Deliverable Overview

The next generation technology team at Grand View Research has compiled a quantitative and qualitative analysis of key trends and industry highlights in the Litigation Services Market. The report offers a detailed analysis of the factors impacting the growth of the Litigation Services Market. The report provides insights on the market drivers and restraints, along with an analysis of various opportunities present in the market. Additionally, the report offers industry analysis in the form of Porter’s and PESTEL analysis to provide a holistic view of the market. The dataset is provided in PDF format.

Key Insights and Industry Overview for Litigation Services Market

The industry growth is driven by an upsurge in demand for legal services and growing technology applications, which provide efficient and secure enterprise software for facilitating document management and other legal processes. Macroeconomic factors such as growing competition, globalization, commoditization, varying economic growth trends, and FDI are boosting the overall growth of the litigation market. Legal organizations are looking for more talented and skilled employees. However, according to the 'Wolters Kluwer Future Ready Lawyer Survey 2022', talent and skill challenges are expected to impact the global litigation market to a great extent over the next few years. As per the survey findings, about 70% of law firm lawyers and 86% of corporate lawyers said that the resignation trend of employees had a significant impact on the growth of their organization. 

Technological innovations and advancements in the legal industry are expected to offer new growth opportunities in the litigation sector, enabling law firms to maintain a transparent relationship with their clients. AI and big data have already made inroads in law firms, but there is still a vast opportunity for data-based technologies with profound legal implications. For instance, cloud computing provides critical advantages where law firms witness the cloud as the scalable and efficient way to deploy advanced legal technology tools without requiring substantial upfront capital investment in software, hardware, or support services. 

The rise in the size of educated middle classes in Asian countries and increased economic growth are anticipated to give new opportunities for litigation service businesses in the region. Additionally, the Association of Southeast Asian Nations (ASEAN), a regional intergovernmental organization, offers vast opportunities for litigation service business investors across Indonesia, Thailand, Malaysia, Singapore, Philippines, Vietnam, Laos, Brunei, Myanmar, and Cambodia. Such initiatives are expected to drive the demand for litigation services market over the forecast period.