NEW YORK, Sept. 8, 2021 /PRNewswire/ -- As per the findings of Zion Market Research study, litigation funding Investment industry gathered revenue about US$ 11,412.6 million during 2019 and is slated to earn revenue of approximately US$ 20,548.5 million by 2026. The litigation funding Investment market is projected to register highest gains of nearly 6.7% during 2020-2026. In addition to this, litigation funding is process in which legal firms and plaintiffs can fund litigation and other expenses via third parties. These organizations offer advance money to clients in return for portion of fee, settlement, or award from clients. Furthermore, these deals are also termed as non-recourse signifying that if customer loses the court case then the funder cannot sell other assets of customer to recover the fee amount.
Moreover, outbreak of COVID-19 pandemic has resulted into lockdown along with job losses & unemployment rate and this has increased insolvency & burden on many individuals eager for resolving claims through litigation. Moreover, requirement for litigation funds has been translated into humungous demand for litigation financing, thereby driving industry trends. Furthermore, rise in number of disputes among firms in same business vertical is predicted to generate new growth opportunities for litigation funding market during forecast timespan. Moreover, litigation financing is practiced in labor lawsuits, intellectual property suits, consumer disputes, and commercial litigations. Escalating requirement for lawsuit funding among plaintiffs supported by surging legal costs and need of firms as well as individuals for generating profits through litigation financing will drive expansion of litigation funding market size over forthcoming years. Apparently, litigation financing is becoming popular among investors and is producing new growth avenues for litigation funding market over upcoming years. Massive demand for litigation funding investment in IT & telecommunications, BFSI, and Media & Entertainment will enlarge scope of litigation funding market over years ahead.
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Surge in Funding Of Small Litigations to Steer Market Size By 2026
Increase in number of legal suit funding in countries such as the U.S. coupled with high-valued legal disagreements will open new vistas of growth for litigation funding market during forecast timeline. Legalization of litigation financing activities in Asia Pacific countries such as Singapore and Hong Kong will expand scope of litigation funding industry during forecast timeline. Nevertheless, high risks linked to litigation funding activities can pose threat to growth of litigation funding market over years ahead. Large-scale use of AI technologies in litigation funding activities will translate into massive growth of litigation funding market over forecast timeframe. Additionally, legal funding has assisted attorneys in expanding their services. Apparently, legal funding is used for making up lost wages and routine expenses as well as medical bills. Getting finance with funding advance can also help in reducing stress related to expensive law suits along with allowing appellants in focusing on other key issues. All these aforementioned factors are likely to drive expansion of litigation funding market in years to come.
North America to Dominate Overall Market Size By 2028
Growth of litigation funding market over forecast period can be credited to large-scale presence of litigation funding firms in countries such as the U.S. and Canada. In addition to this, increase in commercial dispute funding in the U.S. and its growing acceptance by plaintiffs as an alternative to fee services for dissolving fiscal barriers in court cases will drive regional market growth over forecast period.
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Key players influencing market growth and profiled in study include Apex Litigation Finance, Legalist Inc., Harbour Litigation Funding Limited,Validity Finance LLC, Augusta Ventures Limited, Omni Bridgeway, Balance Legal Capital LLP, Burford Capital LLC, Therium Group Holdings Limited, Deminor, Longford Capital Management LP, FORIS AG, IMF Bentham, Nivalion, Pravati Capital, and Woodsford Litigation Funding Ltd.
This review is based on a report by Zion Market Research, titled, "Global Litigation Funding Market - By Application (Class Action Lawsuit Funding, Commercial Litigation Funding, Insolvency Litigation Funding, Patent Litigation Funding, Labor Lawsuit Funding, Consumer Disputes, Intellectual Property Litigation Funding, International Arbitration, And Others) And By End User (Individuals, Businesses, And Law Firms And Attorneys): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020-2026."
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This report segments the global litigation funding market into:
By Application
- Class Action Lawsuit Funding
- Commercial Litigation Funding
- Insolvency Litigation Funding
- Patent Litigation Funding
- Labor Lawsuit Funding
- Consumer Disputes
- Intellectual Property Litigation Funding
- International Arbitration
- Others
By End-User
- Individuals
- Businesses
- Law Firms And Attorneys
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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