Overview

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

IBISWorld’s Online Legal Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$5bn
Annual Growth
11-16
7.6%
Annual Growth
16-21
Profit
Employment
26,219
Business
8,855

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

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    Industry Analysis & Industry Trends

    The Online Legal Services industry has experienced robust growth in the five years to 2016, 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 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 2021...

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    Industry Report - Starting a New Business Chapter

    This fast-growing industry has low barriers to entry. Investments for an online legal services company are relatively low. Providers must purchase or develop software, websites and different client interfacing programs that can dispense legal advice. But once these programs are developed, operators need to invest little in upkeep to maintain services. Furthermore, most of these technological barriers are decreasing as more people learn how to program online software and the costs for servers are expected to continue to fall with technological advancement.

    Industry operators are not required to achieve accreditation by any bar associations or legal jurisdictions to dispense their services. Thi..

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    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 Corporate profit and Number of businesses in the Online Legal Services industry impact industry performance..

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    Industry Products

    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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Number of businesses
  • Percentage of services conducted online
  • 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

  • Products & Markets
    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
  • Transactional services, including interactive legal documents
  • Subscription legal plans
  • 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
    Competitive Landscape
    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
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Online Legal Services Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    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
    Key Statistics
    Table: Industry Data for the Online Legal Services Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Number of businesses (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    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, a la carte offerings that only pertain to the clearly defined portion of a client's legal needs.
  • Why buy this report?

    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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