It is no surprise that we are living in an era of transformation in the legal industry. Be it working from home or experiencing new technologies, the growing trends and changes in society are transforming the view of the legal industry in many aspects.
No one thought a time would come when virtual hearing and appearance in courts would be the new normal of the legal profession .
But this ain’t going to stop here. In the years to come, lawyers and many of their clients will continue to be impacted by the advent of new technology, global expansion, and paralegal jobs.
In fact, many top law colleges in Noida, Delhi, Pune, etc have started to tweak their curriculum/syllabus in correspondence to match these trends and transformations to keep up with the latest trends and upskill themselves accordingly.
Let’s explore more about these new paradigms that could transform the legal industry in the future with regard to trends in digitization, legal technology, and online service distribution.
Moving To a Digital World From Traditional Methods
There has been a significant impact of new technology on every aspect of the law industry and the fact that efforts are being made to simplify and streamline new processes seems justified.
Having a digital presence becomes mandatory as an increasing number of people are now seeking legal services through online platforms. The online presence also allows law firms to expand their geographic reach, as it eliminates physical distance and opens up new opportunities in the domestic or international market.
This benefit of adopting ‘digital-first’ practice comes with a mandate of global knowledge and additional certifications of overseas legal frameworks.
Asian Law College is among the top Law colleges in Delhi, NCR that is offering additional diplomas and certifications to their students in order to add more value to their law degree while they gain extended knowledge and skills in the industry.
Global Legal Market
In 2020 the global legal services market size was calculated at USD 849.28 billion. It is also expected to grow at an annual rate of (CAGR) of 4.4% from 2021 to 2028.
This proves that legal matters are going beyond local jurisdictions. The law industry has and will see significant growth across the borders making legal professionals to ponder about the decisions regarding expansion of their legal services globally.
Clearly, this market is so huge that law firms will not hesitate to expand globally. This global expansion and the associated opportunities for legal interaction will act as a driving force for the law industry and their planning in the future.
Legal Process Outsourcing
Outsourcing of legal functions or processes to an external, or third-party service provider is called Legal Process Outsourcing.
LPO is an excellent way to reduce cost and an important measure to avoid knowledge sharing or the transfer of discrete legal services from internal departments to external firms, paraprofessionals, or local attorneys.
Seeing the need for legal outsourcing, even the data suggests that it is expected that its global market size will reach USD 5.2 billion by 2025, growing at a CAGR of 31.8%.
According to industry insiders, this presents new opportunities for those who can take full advantage of them and provide the labor that lawyers around the globe need in order to excel.
Paralegals are people who assist lawyers with their work. There are many reasons why people choose to work in this field.
While some explore this option to check if the legal field is right for them, others take it up as a part-time job to get some money.
When lawyers continue to expand into new markets, they will need to find the right kind of support that can ease their work and increase productivity by assisting them actively.
Paralegals mostly have administrative tasks and assist with all the things that a lawyer may need, which include document review, transcription services, calendar management, document management, managing a caseload, contacting clients, and much more.
Even the data suggests a tremendous growth in this space. According to the U.S. Bureau of Labor Statistics ‘Despite the slow pace of growth among all occupations, paralegal and legal assistant jobs are expected to grow 12 percent between 2020 and 2030.’
This makes it a good choice for anyone interested in entering this field. Isn’t it?
So, if you are also among the aspiring students who wish to pursue law as a career option, then these are the incoming trends that you will require to master yourself. You can use these to advance your career and upskill yourself as a successful law professional.
Asian Law College in Noida is one of the institutes in the country that offers all that you need to excel in the industry and helps you keep up with every trend. It renders law education based on the latest industry & technology trends. Not only that, but you will also have the opportunity to earn additional diplomas and certifications to enhance your skills and learn the latest techniques.
So hop on the journey to your career success in law with ALC. Trust us, it’s the best for you!