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

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...purchase to read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 11-16
7.6%
Forecast Growth 16-21
Profit
Employment
26,219
Businesses
8,855
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 Investment Chapter

    The Online Legal Services industry is subject to a moderate level of capital intensity. IBISWorld estimates that for every dollar spent on wages, $0.14 is spent on capital. As is the case with most online-service companies, industry operators allocate a significant proportion of revenue toward ongoing capital expenses related to the upgrade and maintenance of computing, telecommunications and data storage equipment. Online legal service providers must invest in data hosting or server systems to keep their websites operational at all times. Depreciation, used as a stand-in for capital spending, has risen over the period, as software used by industry companies has become more advanced. Com...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 Corporate profit and Number of businesses 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
  • 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

  • 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
    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
    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 (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
    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.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Online Legal Services can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    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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