The U.S. Alternative Legal Service Providers Market Worth $23.04 Billion by 2028 - Exclusive Market Research Report by Arizton

CHICAGO, Feb. 22, 2023 /PRNewswire/ -- According to the latest research report, the US alternative legal service providers market will grow at a CAGR of 20.91% during 2022-2028. Focus shift to delivery, injection of investments, a rise of self-service functions, blurring lines between traditional and alternative, and adoption of artificial intelligence and cloud technology are trends in the U.S. alternative legal service provider's market.

Alternative legal service providers leverage low overheads and technology to offer their services with added advantages, i.e., efficiency at a low cost, simplicity, speed, flexibility, and a strong client focus. These businesses typically pick up and enhance legal processes to improve performance, leading to new service categories emerging over the years. Alternative legal service providers do not operate as law firms but as legal services firms. Apart from performing high-volume tasks, the U.S. alternative legal service providers market provides key functions like financial management, client engagement, strategic planning, knowledge management, and leveraging technology and data.

The U.S. Alternative Legal Service Providers Market Report Scope

Click Here to Download the Free Sample Report

The US alternative legal service providers market remains fragmented as vendors expand their business units due to the high demand for ALSP services. Mergers and acquisitions have emerged as a prominent growth strategy in the market. The market continues to experience investment activities in mergers and acquisitions as service providers seek new opportunities, new client engagement, and new capabilities to build a reputation and position themselves in the market.

Trends & Opportunities

Adoption of AI & Cloud Technologies: AI and cloud technology will enable alternative legal service providers (ALSPs) to work remotely and make legal processes easy and smooth. Law firms benefit from adopting AI and robotic process automation to produce highly standardized documents and confidential agreements. The advent of cloud technology allows applications to run smoothly on third-party servers without extensive in-house storage. ALSPs invest in cloud technologies, AI, and cybersecurity solutions to make their work easy. However, consumers across the globe are now spending more time on digital services, such as taking legal advice online. Modern-day customers are tech-savvy. With significant technological developments, customers seek convenient ways to procure legal services in less time. Therefore, ALSPs must focus on cloud-based technologies and AI-based automation solutions to enhance their services across the US.

Blurring Lines Between Traditional and Alternative Law Firms: The alternative legal service providers (ALSP) space is expected to mirror this as clients increasingly look to new players offering services once sought by these law firms. These services can be integrated with the client's existing infrastructure and are powered by innovative technologies. This reflects a shift in the overall buy/sell dynamic of legal services, which is expected to come to a point where ALSPs will be tagged as standard and not a substitute or alternative option in the coming years.

Why Should You Buy the Report? 

• To enhance the credibility of your strategies.
• Refine your business plan & growth.
• Analysis of competitor's performance.

Competitive Landscape

With the phasing out of the concept of a full-service law firm, several privately-owned non-legal companies have increased the US legal services market, which conventional legal service providers once dominated. Such developments have had significant consequences on the legal field regarding socio-political dynamics and power relations, including cultural, organizational, and societal implications for law practice. Consequently, most US legal firms focus on reshaping their organizational structure and business models to ensure a sustainable presence and gain a competitive edge.

Click Here to Download the Free Sample Report

Key Company Profiles

• Allen & Overy
• Axiom Law
• Elevate Services
• UnitedLex
• Clifford Chance
• Consilio
• Epiq Systems
• Everlaw
• Exigent
• Greenberg Traurig
• Integreon
• KLDiscovery
• LegalZoom
• Lawyers On Demand
• Mindcrest
• Reed Smith
• Lumen Technologies
• Morae
• Orrick Herrington & Sutcliffe
• QuisLex
• Thomson Reuters

Market Segmentation

Service

• Investigation and Litigation Support
• eDiscovery
• Contract Management
• Document Review and Coding
• Legal Research
• Regulatory Risk and Compliance
• Others

Provider

• New Law Companies
• Staffing/Recruiting and Contract Lawyer Companies
• Captive LPOs
• Other Providers

End-User

• Law Firms
• Large Firms
• Mid-Sized Firms
• Small Firms
• Corporations

To find out more, visit www.arizton.com or follow us on Twitter, LinkedIn , and Facebook 

Check Out Some of the Top-Selling Related Research Reports:

U.S. Corporate Wellness Market -  The corporate wellness market will reach USD 22.65 billion by 2027. The US is the leading country in the North American corporate wellness market. Due to increasing industry competition, employees are working under high pressure to address business challenges. Therefore, stress has an adverse impact that disrupts the work-life balance for the employees. Increasing awareness of mental and physical health management due to the initiatives taken up by employers will positively impact the U.S. corporate wellness market.

U.S. Employee Assistance Program Services Market - The U.S. employee assistance program services market is expected to reach $3 billion by 2027 from $1 billion in 2021. Employee Assistance Program (EAP) is a confidential program that assists employees in overcoming various life difficulties that may negatively impact job performance, health, or personal well-being to maximize an organization's success. Employees with personal and work-related concerns include stress, financial, legal, family, and workplace conflicts, and alcohol and substance use disorders. EAP services majorly include assessments, counseling, and referrals. EAPs also frequently collaborate with upper management and supervisors to provide prior planning for organizational changes, legal issues, emergency preparedness, and traumatic event reaction.

U.S. IT Staffing Market - The U.S. IT staffing market is expected to reach USD 43.68 billion by 2027. The trend of a rising contingent workforce driven by the need for scalability, flexibility, and minimized risk is fueling the US IT staffing market's growth. The IT staffing industry continues to be an integral part of the overall staffing industry in the US. The US temporary staffing market remains positive due to consistent IT sector investments, economic stability, and technological advancements. Further, high billing rates and increasing use of social media recruitment platforms drive millennials towards top-notch IT jobs.

U.S. Workplace Stress Management Market - The U.S. workplace stress management market is projected to reach USD 3.7 billion by 2027. The pandemic aggravated stress, driving demand for therapeutic intervention and demonstrating the need for equitable and accessible mental health benefits. The disaster distress helpline, a federal crisis hotline operated by the substance Abuse and Mental Health Services Administration, has increased by over 300% in calls since February 2020. The U.S. workplace stress management market is particularly growing, with vendors such as ComPsysch, LabCorp, ActiveHealth, CuraLinc Healthcare, and Marino Wellness offering services at workplaces.

Table of Content

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.3.1 MARKET SEGMENTATION BY SERVICE

4.3.2 MARKET SEGMENTATION BY END-USER

4.3.3 MARKET SEGMENTATION BY PROVIDER

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

6.1 MARKET DEFINITION

6.2 REPORT OVERVIEW

6.3 STATE OF THE US ECONOMY

6.3.1 IMPACT OF COVID-19

6.3.2 IMPACT OF RECESSION

6.4 SUCCESS FACTORS

6.5 OPPORTUNITIES & CHALLENGE ANALYSIS

6.6 SEGMENT ANALYSIS

6.7 COMPETITIVE LANDSCAPE

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 OVERVIEW

8.2 STATE OF THE US ECONOMY

8.2.1 IMPACT OF COVID-19

8.2.2 IMPACT OF RECESSION

8.3 SUCCESS FACTORS

8.4 TRENDS IN US LEGAL INDUSTRY

9 MARKET OPPORTUNITIES & TRENDS

9.1 SHIFT OF FOCUS TO DELIVERY

9.2 INJECTION OF INVESTMENTS

9.3 RISE OF SELF-SERVICE FUNCTIONS

9.4 BLURRING LINES BETWEEN TRADITIONAL AND ALTERNATIVE LAW FIRMS

9.5 ADOPTION OF AI & CLOUD TECHNOLOGIES

10 MARKET GROWTH ENABLERS

10.1 LEGAL DEPARTMENTS IN OVERDRIVE

10.2 SURGE IN LEGAL SPENDING

10.3 HIGH DISSATISFACTION WITH LAW FIRMS

10.4 INTENSIFYING FOCUS ON TECHNOLOGY ADOPTION

11 MARKET RESTRAINTS

11.1 DATA SECURITY AND PRIVACY CONCERNS

11.2 LACK OF PROPER ARTICULATION OF CLIENT CHALLENGES

11.3 MISPLACED PERCEPTIONS ABOUT CUSTOMER VALUE

11.4 RESISTANCE AND LACK OF RECONFIGURATION TO ALSPS

11.5 GREAT RESIGNATION IN THE LEGAL INDUSTRY

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.2 MARKET SIZE & FORECAST

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

13 SERVICE

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.3 EDISCOVERY

13.3.1 MARKET OVERVIEW

13.4 INVESTIGATION AND LITIGATION SUPPORT

13.4.1 MARKET SIZE & FORECAST

13.5 CONTRACT MANAGEMENT

13.5.1 MARKET SIZE & FORECAST

13.6 DOCUMENT REVIEW AND CODING

13.6.1 MARKET SIZE & FORECAST

13.7 LEGAL RESEARCH

13.7.1 MARKET SIZE & FORECAST

13.8 REGULATORY RISK AND COMPLIANCE

13.8.1 MARKET SIZE & FORECAST

13.9 OTHER SERVICES

13.9.1 MARKET SIZE & FORECAST

14 PROVIDER

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 NEW LAW COMPANIES

14.3.1 MARKET SIZE & FORECAST

14.4 STAFFING AND CONTRACT LAWYER COMPANIES

14.4.1 MARKET SIZE & FORECAST

14.5 CAPTIVE LPOS

14.5.1 MARKET SIZE & FORECAST

14.6 OTHER PROVIDERS

14.6.1 MARKET SIZE & FORECAST

15 END USER

15.1 MARKET SNAPSHOT & GROWTH ENGINE

15.2 MARKET OVERVIEW

15.3 LAW FIRMS

15.3.1 MARKET SIZE & FORECAST

15.3.2 LARGE FIRMS: MARKET SIZE & FORECAST

15.3.3 MID-SIZED FIRMS: MARKET SIZE & FORECAST

15.3.4 SMALL FIRMS: MARKET SIZE & FORECAST

15.4 CORPORATIONS

15.4.1 MARKET SIZE & FORECAST

16 COMPETITIVE LANDSCAPE

16.1 COMPETITION OVERVIEW

17 KEY COMPANY PROFILES

17.1 ALLEN & OVERY

17.1.1 BUSINESS OVERVIEW

17.1.2 SERVICE OFFERINGS

17.1.3 KEY STRATEGIES

17.1.4 KEY STRENGTHS

17.1.5 KEY OPPORTUNITIES

17.2 AXIOM LAW

17.3 ELEVATE SERVICES

17.4 UNITEDLEX

18 OTHER PROMINENT VENDORS

18.1 CLIFFORD CHANCE

18.1.1 BUSINESS OVERVIEW

18.1.2 SERVICE OFFERINGS

18.1.3 KEY STRATEGIES

18.1.4 KEY STRENGTHS

18.2 CONSILIO

18.3 EPIQ SYSTEMS

18.4 EVERLAW

18.5 EXIGENT

18.6 GREENBERG TRAURIG

18.7 INTEGREON

18.8 KLDISCOVERY

18.9 LEGALZOOM

18.10 LAWYERS ON DEMAND

18.11 MINDCREST

18.12 REED SMITH

18.13 LUMEN TECHNOLOGIES

18.14 MORAE

18.15 ORRICK HERRINGTON & SUTCLIFFE

18.16 QUISLEX

18.17 THOMSON REUTERS

19 REPORT SUMMARY

19.1 KEY TAKEAWAYS

19.2 STRATEGIC RECOMMENDATIONS

20 QUANTITATIVE SUMMARY

20.1 SERVICE

20.2 PROVIDER

20.3 END USER

21 APPENDIX

21.1 ABBREVIATIONS

About Us:   

Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.  

We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.  

Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.  

Click Here to Contact Us  

Call: +1-312-235-2040  
        +1 302 469 0707  
Mail: enquiry@arizton.com

Photo: https://mma.prnewswire.com/media/2007524/U_S_Alternative_Legal_Service_Providers.jpg
Logo: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg