Cyber security: The draw of less-costly legal services online will lead to higher revenue

The Online Legal Services industry has experienced robust growth over the five years to 2018 due to a number of factors that have made online legal documentation, lawyer networking and other generic legal services more accessible to consumers and small businesses. For example, a rise in e-commerce and shifting consumer purchasing patterns have fostered industry growth. As the use of online resources has broadened, more price-cautious consumers have used the internet to find reasonably priced alternatives to traditional lawyers, as online providers tend to price services lower than brick-and-mortar law firms. Strong demand for online legal services is projected to continue over the five years to 2023...purchase to read more.

Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 13-18
9.4%
Forecast Growth 18-23
Profit
Employment
30,905
Businesses
10,720
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Demand has been driven by consumers and businesses seeking cheaper alternatives to traditional lawyers
  • Bar associations in some states have attempted to curb industry operations
  • The industry’s services are squarely aimed at price-conscious, middle-market consumers
  • Industry Report - Industry Products Chapter

    Transactional services, including interactive legal documentsIndustry operators provide customers with access to interactive software programs that help them prepare legal documents for processing. Interactive legal documents are typically formatted to meet the needs of two groups of customers: individuals and small businesses. Automated services help customers fill out forms necessary for a variety of different actions, including starting a business, incorporating a business, and filing for bankruptcy or divorce. Companies charge their customers to either gain access to their forms or after they have filled them out before filing...purchase to read more.

    Additional Insights for the Online Legal Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Online Legal Services Industry are

  • Ability to quickly adopt new technology
  • Must comply with government regulations
  • Effective product promotion
  • IBISWorld analysts also discuss how external factors such as Number of businesses and Percentage of services conducted online in the Online Legal Services industry impact industry performance..

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    What's in this report

    What is the Online Legal Services Industry?

    Operators in this industry provide legal services to clients using the internet and associated technologies as the primary means of communication. The industry includes virtual law firms without brick-and-mortar locations that offer both bundled and unbundled services, as well as companies that primarily provide online legal documentation services like interactive documents that can be tailored to a client’s specific need.

    Industry Products
  • Transactional services, including interactive legal documents
  • Subscription legal plans
  • Other services
  • Industry Activities
  • Providing online family law services
  • Providing online estate law services
  • Providing online intellectual property law services
  • Providing online real estate law services
  • Providing online tax law services
  • Providing online commercial law services
  • Providing online personal injury services
  • Providing online property law services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of businesses
  • Percentage of services conducted online
  • Corporate profit
  • Per capita disposable income
  • Crime rate

  • Current Performance
  • Downstream demand growth
  • Industry structure
  • Profit and labor intensity
  • Chart: Revenue Growth

  • Industry Outlook
  • Fundamentals to drive demand
  • Industry structure
  • Technology
  • Table: Online Legal Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Online Legal Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Law Firms
  • Civic, Social & Youth Organizations
  • Public Administration
  • Commercial Real Estate
  • Consumers

  • Key Selling Industries
  • Commercial Leasing
  • Computer Stores
  • Furniture Stores
  • Software Publishing

  • Products & Services
  • Subscription legal plans
  • Transactional services, including interactive legal documents
  • Other services
  • Chart: Online Legal Services Industry Products and Services Segmentation

  • Demand Determinants
  • Internet use
  • Regulation
  • Small business creation

  • Major Markets
  • Nonemployers and small and medium businesses
  • Households and individuals
  • Government and nonprofit clients
  • Large businesses
  • Chart: Major Market Segmentation for the Online Legal Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Marketing
  • Purchases
  • Depreciation
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Online Legal Services

  • Basis of Competition
    InternalExternal
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Online Legal Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Online Legal Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Online Legal Services Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of businesses (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Brick-And-Mortar
  • A business with a physical presence of a building or other structure, as opposed to a business that conducts all their business using the internet and associated technologies.
  • Legal Document Service Provider
  • A firm that specializes in providing interactive legal forms online that can be customized to a customer's specific need.
  • Unbundled Legal Service
  • A form of limited representation whereby the scope of services is limited to generic, singular offerings that only pertain to the clearly defined portion of a client's legal needs.
  • What Our Customers Say

    Why buy this report?

    The Online Legal Services industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Online Legal Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Online Legal Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Online Legal Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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