Personal Legal Services Market Size & Overview – Key Insights & Forecast

Base Year: 2022 Historical Data: 2019-21

Report ID: TBI-13464
Published Date: May, 2023
Pages: 236
Category: Information Technology & Semiconductors
Format: PDF

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Market Dynamics

Drivers

Growing divorce cases- There is a surge in the divorce rate all across the world. Based on one of the studies, in 2021, around 689,308 divorces happened across the 45 states of the US. Also, based on one of the surveys in 2022, 15% of adults in the US believed that no-fault divorce must be acceptable and divorce should be allowed without any severe reason. Maldives has the most elevated divorce rate of 5.52 divorces in 1,000 people per year, making it the worst in the world for marriage. Moreover, the pandemic has increased the divorce rate. Based on one of the reports from December 2020, divorce applications and breakups skyrocketed in the UK and all across the world. One of the leading British Law firms, Stewarts, logged an increase of 122% in divorce-related enquiries between July and October of 2020 compared to the previous year. Similarly, the US leading legal contract creation site stated about a 34% increase in sales of its basic divorce agreement. The newlyweds who were married in the last 5 months made 20% of its sales. This pattern was similar in China, which had the toughest lockdown in the pandemic. This trend was similar in Sweden too. All these factors are eventually driving the personal legal services market.

Restraints

Surplus of lawyers and shortage of demand- Many lawyers are present in the firm, but the demand is less. Based on one of the surveys in 2017, around 52% of the firms reported that their partners holding equity in the firms didn’t work most of the time or they didn’t have any work, and in the case of partners hot holding nay equity, around 62% of the firms reported that they don’t have much workload and one in four of the law firms associates also don’t have many workloads. This surplus of lawyers decreases the profits of the firm. Moreover, there is stringent government regulation and restrictions on advertising. All these factors are acting as restraints for the market.

Opportunities

Advancement in technology- AI would revolutionize the legal profession by streamlining the maximum of the tasks which lawyers presently perform manually. Similarly, blockchain technology could also transform the legal sector by creating secure and immutable records of legal transactions. Smart contracts can revolutionize the way legal agreements are created and enforced. These smart contracts are self-executing contracts which get recorded on a blockchain. Moreover, cloud computing has become a crucial tool for the layers as it helps them to work from anywhere and collaborate with colleagues and clients in real time. Such software has become crucial in recent years, offering lawyers tools for managing their cases, tracking billable hours, communicating with clients, etc. All these factors would drive the personal legal service market in the forecast period.

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Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
Segmentation on the basis of any specific country or region
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Application segment can be further divided on the basis of companies
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product Type
          4.3.2. Market Attractiveness Analysis By Firms
          4.3.3. Market Attractiveness Analysis By End User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Growing divorce cases
          5.2.2. Increase in mortality rates
    5.3. Restraints
          5.3.1. Surplus of lawyers & shortage of demand
    5.4. Opportunities
          5.4.1. Advancement in technology
    5.5. Challenges
          5.5.1. Economic slowdown

6. Global Personal Legal Services Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Legal Advisory
    6.3. Advocate Services

7. Global Personal Legal Services Market Analysis and Forecast, By Firms
    7.1. Segment Overview
    7.2. Top & Mid Tier Firms
    7.3. Small Firms

8. Global Personal Legal Services Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Individual
    8.3. Business

9. Global Personal Legal Services Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Personal Legal Services Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Personal Legal Services Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Latham and Watkins
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Linklaters
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Morrison and Foerster
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Clifford Chance
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Sullivan and Cromwell
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. WilmerHale
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Sidley Austin
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Hogan Lovells US
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Allen and Overy
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. White and Case
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Kirkland and Ellis
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Greenberg Traurig
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Shearman and Sterling
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. King and Spalding
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Dentons
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Freshfields Bruckhaus Deringer
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Product Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis
    11.17. Baker McKenzie
          11.17.1. Business Overview
          11.17.2. Company Snapshot
          11.17.3. Company Market Share Analysis
          11.17.4. Company Product Portfolio
          11.17.5. Recent Developments
          11.17.6. SWOT Analysis
    11.18. DLA Piper
          11.18.1. Business Overview
          11.18.2. Company Snapshot
          11.18.3. Company Market Share Analysis
          11.18.4. Company Product Portfolio
          11.18.5. Recent Developments
          11.18.6. SWOT Analysis
    11.19. Mayer Brown
          11.19.1. Business Overview
          11.19.2. Company Snapshot
          11.19.3. Company Market Share Analysis
          11.19.4. Company Product Portfolio
          11.19.5. Recent Developments
          11.19.6. SWOT Analysis
    11.20. Morgan, Lewis and Bockius
          11.20.1. Business Overview
          11.20.2. Company Snapshot
          11.20.3. Company Market Share Analysis
          11.20.4. Company Product Portfolio
          11.20.5. Recent Developments
          11.20.6. SWOT Analysis
    11.21. KandL Gates
          11.21.1. Business Overview
          11.21.2. Company Snapshot
          11.21.3. Company Market Share Analysis
          11.21.4. Company Product Portfolio
          11.21.5. Recent Developments
          11.21.6. SWOT Analysis
    11.22. Gibson Dunn
          11.22.1. Business Overview
          11.22.2. Company Snapshot
          11.22.3. Company Market Share Analysis
          11.22.4. Company Product Portfolio
          11.22.5. Recent Developments
          11.22.6. SWOT Analysis
    11.23. Weil, Gotshal and Manges
          11.23.1. Business Overview
          11.23.2. Company Snapshot
          11.23.3. Company Market Share Analysis
          11.23.4. Company Product Portfolio
          11.23.5. Recent Developments
          11.23.6. SWOT Analysis
    11.24. Reed Smith
          11.24.1. Business Overview
          11.24.2. Company Snapshot
          11.24.3. Company Market Share Analysis
          11.24.4. Company Product Portfolio
          11.24.5. Recent Developments
          11.24.6. SWOT Analysis
    11.25. Skadden
          11.25.1. Business Overview
          11.25.2. Company Snapshot
          11.25.3. Company Market Share Analysis
          11.25.4. Company Product Portfolio
          11.25.5. Recent Developments
          11.25.6. SWOT Analysis

List of Table

1. Global Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

2. Global Legal Advisory, Personal Legal Services Market, By Region, 2019-2032 (USD Billion)

3. Global Advocate Services, Personal Legal Services Market, By Region, 2019-2032 (USD Billion)

4. Global Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

5. Global Top & Mid Tier Firms, Personal Legal Services Market, By Region, 2019-2032 (USD Billion)

6. Global Small Firms, Personal Legal Services Market, By Region, 2019-2032 (USD Billion)

7. Global Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

8. Global Individual, Personal Legal Services Market, By Region, 2019-2032 (USD Billion)

9. Global Business, Personal Legal Services Market, By Region, 2019-2032 (USD Billion)

10. North America Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

11. North America Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

12. North America Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

13. U.S. Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

14. U.S. Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

15. U.S. Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

16. Canada Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

17. Canada Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

18. Canada Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

19. Mexico Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

20. Mexico Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

21. Mexico Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

22. Europe Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

23. Europe Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

24. Europe Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

25. Germany Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

26. Germany Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

27. Germany Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

28. France Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

29. France Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

30. France Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

31. U.K. Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

32. U.K. Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

33. U.K. Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

34. Italy Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

35. Italy Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

36. Italy Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

37. Spain Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

38. Spain Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

39. Spain Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

40. Asia Pacific Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

41. Asia Pacific Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

42. Asia Pacific Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

43. Japan Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

44. Japan Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

45. Japan Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

46. China Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

47. China Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

48. China Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

49. India Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

50. India Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

51. India Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

52. South America Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

53. South America Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

54. South America Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

55. Brazil Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

56. Brazil Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

57. Brazil Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

58. Middle East and Africa Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

59. Middle East and Africa Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

60. Middle East and Africa Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

61. UAE Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

62. UAE Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

63. UAE Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

64. South Africa Personal Legal Services Market, By Product Type, 2019-2032 (USD Billion)

65. South Africa Personal Legal Services Market, By Firms, 2019-2032 (USD Billion)

66. South Africa Personal Legal Services Market, By End User, 2019-2032 (USD Billion)

List of Figures

1. Global Personal Legal Services Market Segmentation

2. Global Personal Legal Services Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis

7. Value Chain Analysis

8. Global Personal Legal Services Market Attractiveness Analysis By Product Type

9. Global Personal Legal Services Market Attractiveness Analysis By Firms

10. Global Personal Legal Services Market Attractiveness Analysis By End User

11. Global Personal Legal Services Market Attractiveness Analysis By Region

12. Global Personal Legal Services Market: Dynamics

13. Global Personal Legal Services Market Share By Product Type (2023 & 2032)

14. Global Personal Legal Services Market Share By Firms (2023 & 2032)

15. Global Personal Legal Services Market Share By End User (2023 & 2032)

16. Global Personal Legal Services Market Share By Regions (2023 & 2032)

17. Global Personal Legal Services Market Share By Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global personal legal services market based on below mentioned segments:

Global Personal Legal Services Market by Product Type:

Legal Advisory
Advocate Services

Global Personal Legal Services Market by Firms:

Top & Mid Tier Firms
Small Firms

Global Personal Legal Services Market by End User:

Individual
Business

Global Personal Legal Services by Region:

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- U.K.
- Italy
- Spain
Asia-Pacific
- Japan
- China
- India
South America
- Brazil
Middle East and Africa
- UAE
- South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations.
We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:

Import & Export Data
Business Trade Information
Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

Evaluating the penetration level and usage rates of the product.
Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

Applying demographic along with psychographic segmentation for market evaluation
Determining the Micro and Macro-economic indicators for each region
Examining the industry indicators prevailing in the market.

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

CXOs and VPs of leading companies’ specific to sector
Purchasing managers, technical personnel, end-users
Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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Personal Legal Services Market