Get instant access to this report sample and gain complimentary access to our procurement research platform.
Trusted by
The legal services procurement category is projected to grow at a CAGR of 6.43% during 2023-2027. The prices are outlined to rise by 3%-7% during the forecast period and suppliers will have moderate bargaining power in this market. Latham & Watkins, Allen & Overy LLP, and Hogan Lovells are a few of the key suppliers in the legal services market.
To unlock the YoY growth values for 2023-2027, Request for a FREE Sample Report!
This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the legal services procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading legal services suppliers profiled extensively in this report include:
Furthermore, this legal services procurement market report provides detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for legal services requirements. In addition, most adopted and high potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.
The legal services procurement market report provides a detailed analysis of various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline the procurement process, and reduce category TCO while sourcing for legal services requirements.
To get the exact category management parameters and unfold their degree of influence on this legal services procurement market in details, Get the FREE Sample Report Now!
The report provides a detailed insight into the most adopted procurement strategies by buyers across industries and an analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings while sourcing for legal services requirements.
The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full legal services procurement market report now to get comprehensive details on pricing models
Request for a FREE sample to access the latest price forecasts, market drivers, and TCO reduction opportunities for legal services market
To optimize the value of the purchase, it is crucial to keep track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price-influencing factors. During the forecast period, the market expects an incremental spend of USD 304.47 billion due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through analysis of the below factors:
The legal services market will register an incremental spend of about USD 304.47 billion during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!
The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:
Request for a FREE sample for more information on the spend growth for the legal services procurement market
A targeted strategic approach to legal services sourcing will provide several opportunities. However, in the absence of actionable intelligence on legal services, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as scalability of inputs, category innovations, and cost savings, which will assist buyers to formulate a strategic procurement strategy
The report explains the following key category management objectives that should form the base for sourcing strategy.
To explore the extent of influence of category management objectives that can improve the efficiencies of the retailers, Request for a FREE Sample Report!
In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.
|
Scope of Legal Services |
|
|
Report Specs |
Details |
|
Page number |
167 |
|
Base year |
2022 |
|
Forecast period |
2023-2027 |
|
Spend growth (CAGR) |
6.43% |
|
Incremental spend |
USD 304.47 billion |
|
Pricing growth outlook |
3%-7% |
|
Pricing models |
Fixed-fee pricing model, Hourly-rate pricing model, and Retainer-fee pricing model |
|
Supplier selection scope |
Compliance with inland and overseas, Specialized knowledge, Technical abilities, and Proven track record |
|
Supplier opportunities |
Scalability of inputs, Category innovations, Cost savings, Adherence to regulatory nuances, Demand forecasting and governance, Supply base rationalization, Top-line growth, Minimalization of ad hoc purchases, Reduction of TCO, Customer retention, Green initiatives, and Supply assurance |
|
Supplier selection criteria |
Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Legal requirements, Quality control, Pricing models, Penalty clauses, SLA nuances, Working environment, Evaluation criteria, and Change management procedures |
|
Category management scope |
Scalability of inputs, Category innovations, Cost savings, Adherence to regulatory nuances, Demand forecasting and governance, Supply base rationalization, Top-line growth, Minimalization of ad hoc purchases, Reduction of TCO, Customer retention, Green initiatives, and Supply assurance |
|
Top suppliers |
Latham & Watkins, Allen & Overy LLP, Hogan Lovells, Freshfields Bruckhaus Deringer LLP, Linklaters LLP, DLA Piper, Pinsent Masons LLP, Herbert Smith Freehills LLP, CMS Legal Services EEIG, and White & Case LLP |
|
Market dynamics |
Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years. |
|
Customization scope |
We can create customized sourcing/procurement reports with specific requirements for your business. |
Request for a FREE sample now!
Copyright © 2024 Infiniti Research Limited. All Rights Reserved. Privacy Notice – Terms of Use – Sales and Subscription
