The legal services market size is expected to grow around $1 billion by 2022 growing at less than 5% compound annual growth rate (CAGR). The growth in the biologics market is mainly due to the emerging market growth, globalization and rising investments in the legal services activities.

Several trends are witnessed in the legal services market which include alternative billing models, digitalization and increasing consolidation of legal service companies in the market.

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Merger and acquisition activity in the legal services market in the last 5 years has been at a medium level. Leading deals include those completed by Dentons, Clark Hill PLC, CMS Cameron McKenna, Nabarro LLP, Olswang LLP, Keais Records Service, LLC, Plutos Sama, LLC, Locke Lord LLP, Squire Sanders and Stinson Morrison Hecker LLP
Dentons merged with Dacheng Law Offices for an undisclosed amount. The deal will create a firm with 6,600 lawyers in 120 offices in more than 50 countries. It allows the firm to have separate regional profit pools and accounting while sharing strategy, branding, and other core functions. Dentons is the world's largest law firm measured by number of lawyers. The company is decentralized and has no headquarters. Dacheng is a multinational law firm headquartered in Beijing, China

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