LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Litigation Services Market - Procurement Intelligence Report.
The spend momentum of this market is primarily attributed to the recent rise in the instances of non-compliance with contracts. Organizations are undergoing major structural changes and are also observing an increase in business activities that are being spurred by the M&A activities undertaken by them. This is also resulting in instances of failure to adhere to contract-related objectives which is emerging as one of the major pain-points among the organizations. This is compelling buyers from these organization to procure litigation services to file lawsuits against the offenders. Last year, over 20% of the lawsuits were slammed against enterprises who breached contracts. Regulatory infringements and patent lawsuits are some of the other factors that will also play prominent roles in driving the demand growth of the litigations services market across the globe. Request a Free Sample of this litigation services market procurement intelligence report here!
Currently, North America is accounting for nearly half of the total spend on litigation services. This regional market owes its spend growth to the increasing instances of regulatory infringements committed by the pharmaceutical and financial sectors. This is driving these sectors to leverage litigation services to address any potential lawsuits raised against them. In APAC, the increase in lawsuits related to environmental and regulatory infringements, land disputes, and criminal cases are compelling buyers to opt for third-party litigation service providers instead of in-house legal teams. This trend is majorly contributing to the spend growth of the litigation services market in the region.
Insights offered in this litigation services market procurement intelligence report include supply market forecasts, major cost drivers, and category management insights. Such insights are relevant for both the buyers and the suppliers who seek a risk-free and a cost-effective procurement strategy. The category spend segmentation done in this procurement intelligence report will guide the investors in identifying the best investment areas as well as help them in identifying cost-saving opportunities in the market. Get free customization of this procurement intelligence report on the litigation services market to get information tailored to your every requirement.
“Buyer is advised to partner with services providers that agree to provide AFA in their pricing as negotiating on an hourly basis can increase the procurement cost of buyers due to overruns within lawsuits,” says SpendEdge procurement expert Tridib Bora.
This litigation services market procurement intelligence report has estimated the following cost drivers to influence the category growth in the coming years:
- Patent infringements will drive the category spend
- The rapid growth of business litigation lawsuits will drive the category spend
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SpendEdge’s procurement market intelligence reports for the professional services category provide detailed supply market forecasts and cost drivers that impact category growth. Such information will help procurement managers as well as the suppliers to determine the total cost of ownership and change their procurement strategies accordingly. Additionally, SpendEdge’s reports provide category management insights and information on the procurement best practices for the category.
Report scope snapshot: Litigation services
Category pricing insights
- Pricing outlook
- Total cost of ownership analysis
- Supplier cost structure
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- Supplier-side levers
- Buyer-side levers
- Quantifying cost savings by negotiation strategies
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- Competitiveness index for suppliers
- Buyer power
- Supplier power score
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