25 Best Online Law Degree Programs Heading Into 2024

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In this article, we will be looking at the 25 best online law degree programs heading into 2024. If you want to skip our detailed analysis, you can go directly to the 5 Best Online Law Degree Programs Heading Into 2024.  

Legal Services Industry: An Overview

The legal services industry offers promising prospects for law students after graduation. According to a report by Grand View Research, the global legal services market was valued at almost $1 trillion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 4.5% to reach 1.36 trillion by 2030.

Macroeconomic factors and technological advancement are rapidly changing the business landscape globally. Thriving businesses have to keep up with the legal obligations and regulatory criteria which has caused a surge in demand for legal services providers. The growing demand is expected to contribute to market growth during the forecast period. Furthermore, legal firms have started outsourcing nonrevenue-generating legal services including contract management and document review to Alternate Legal Service Providers (ALSPs). The outsourcing of nonrevenue-generating tasks is expected to fuel market growth during the forecast period.

ALSPs have started incorporating AI to expand their capabilities and make service delivery more efficient. AI-powered Contract Lifecycle Management (CLM) products are becoming popular as well. The use of AI and machine learning is helping automate legal processes such as drafting and evaluating contracts.

In 2022, North America was the most dominant region in the legal services market. The region is expected to grow consistently during the forecast period. The use of technology in the delivery of legal services is expected to fuel the growth of the market. However, the Asia Pacific region is expected to be the fastest-growing region during the forecast period and grow at a CAGR of 7%. The implementation of extensive legal regulation in India and China will mainly contribute to the growth of the region.

Noteworthy Legal Services Companies

LegalZoom.com Inc (NASDAQ:LZ) is a pertinent company in the legal services industry. On November 1, the company announced the launch of its new business license product. The product by LegalZoom.com Inc (NASDAQ:LZ) is built on a proprietary nationwide database that enables small businesses to become compliant by connecting them with the relevant licenses and permits. The nationwide database has the latest information about required licenses, permits, and registrations at the federal, state, county, and local government levels for businesses to operate legally. The product is especially useful for small businesses, that require more than five licenses to operate legally, as it optimizes the entire process by making it shorter. The business license product is an addition to the previously delivered integrated suite of compliance offerings by LegalZoom.com Inc (NASDAQ:LZ).