According to the report, the global lawsuit financing market was valued at approximately USD 712 million in 2018 and is expected to reach a value of around USD 4,120 million by 2027, at a CAGR of around 21.5% between 2019 and 2027.
Lawsuit financing also referred to as litigation funding is a procedure in which a litigant makes use of the asset value of commercial arbitration or legal suit in order to secure capital from the third party for financing the lawsuit. Moreover, the third-party funder can pay a part or all the costs related to the dispute in the return for the share in the profits of the legal dispute or settlement if successful. Even if the legal suit fails, the funder has to bear the expenses as per the deal or agreement.
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Escalating awareness about litigation funding to drive the market trends
Large-scale awareness about lawsuit financing among the customers is expected to contribute massively towards the expansion of the market over the forecast timeline. In addition to this, litigation finance is growing into a vital domain of the business law with the number of customers & firms making use of it to resolve the business challenges. Apparently, large-scale penetration of key players across the emerging regions like the Asia Pacific will impel the expansion of the lawsuit financing industry over the forecast timeline.
Moreover, litigation financing solves the risk of business spending by offering corporates with the opportunity of transferring the complete lawsuit risk to the third party. This will further boost the market trends over the forecast timeline. In addition to this, massive concerns of officials regarding the advantages related to legal dispute financing are projected to steer the lawsuit financing market over the forecast timeline. Nevertheless, costly risk environment for firms like enterprise risk management, data privacy, compliance, and Cybersecurity will inhibit the growth of the market over the forecast period.
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Commercial litigation funding segment to hold leading market revenue share over the forecast timeline
The segment is also likely to register the CAGR of nearly 22.5% over the forecast timeline. The growth of the segment is due to the massive financing of payment of lawyer fees and legal costs through commercial litigation funding activities.
Attorneys segment to dominate the end-user landscape over the forecast period
The growth of the segment is due to massive litigation funding activities of the attorneys for arguing in favor or against the legal suit in the court of law.
North American region to contribute majorly towards the overall regional market revenue share by 2027
The growth of the market in the region is due to the massive popularity of the lawsuit financing activities in countries like the U.S. and Canada. Reportedly, North America contributed nearly about 40% towards the overall market share in 2018.
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Top Market Players:
Some of the major participants in the lawsuit financing market include Burford Capital Ltd., Pravati Capital LLC, Harbour Litigation Funding Limited, Global Funding Solutions LLC, Legalist, Inc., Lawsuit Financial LLC, LawCash, Law Finance Group LLC, Vannin Capital PCC, Fast Funds, Oasis Legal Finance Group, LLC, High Rise Financial, Fair Rate Funding, Argenta Legal Funding, and Bentham Capital LLC.
The study provides a decisive view of the lawsuit financing market by segmenting the market based on the type, case type, end-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027.
The regional segmentation include s the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Litigation financing resolves the risk of a business expenditure by offering corporates with the prospect of reassigning the complete lawsuit risk to the third party. This will further steer the market trends over the forecast timeline. Apart from this, massive concerns of officials pertaining to the advantages related to law dispute financing are projected to steer the lawsuit financing market expansion over the forecast timeline. Nevertheless, a costly risk environment for the legal entities or legal bodies involved in enterprise risk management, data privacy, compliance, and Cybersecurity will inhibit the growth of the market over the forecast period.
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