Los Angeles, CA (PRWEB) April 01, 2014
Immigration law services have a buyer power score of 2.8 out of 5. This score indicates moderate purchasing power for buyers due to relatively high competition among suppliers, financially stable vendors and steady price growth. "Prices for immigration law services have increased over the three years to 2013, encouraged by rising demand for foreign-born talent and the growing complexity of immigration law," says IBISWorld procurement analyst Agiimaa Kruchkin. This price growth was further facilitated by the limited availability of substitute services, which makes demand relatively inelastic. As immigration law becomes increasingly more challenging to navigate, employers hire immigration attorneys to perform the services for them instead. At the same time, the intensifying competition among immigration law groups prevents small and medium-size suppliers from raising prices rapidly for their services. Similarly, a low level of supplier risk aids buyers, as they have a wide variety of law firms to choose from. Major vendors include Buchanan Ingersoll & Rooney PC, Baker & McKenzie, Dickstein Shapiro LLP and Fragomen, Del Rey, Bernsen and Lowey LLP.
Due to lingering recessionary challenges, the demand for immigration counsel subsided slightly. "Many businesses delayed or declined visa sponsorship plans to maintain their margins," says Kruchkin. Nevertheless, demand quickly rebounded starting in 2010 on the back of economic recovery, driving up the prices. The rebounding economy also facilitated the ongoing expansion of the immigrant population, maintaining demand for visa petitions. The rates for immigration law services recovered particularly quickly among the largest law firms, as downstream demand was further enhanced by these suppliers' expertise and reputation. Consequently, buyer power declined slightly over the past three years. Demand for immigration law services is anticipated to remain stable over the next three years, favoring suppliers and hurting buyers, as prices are expected to rise slightly faster in the three-year period through 2016. Key strategies for buyers include containing costs by negotiating volume discounts, as multi-year contracts are uncommon among suppliers.
For more information, visit IBISWorld’s Immigration Law Services procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of immigration and naturalization law services. Immigration law governs whether a person is a resident or an alien, and their associated legal rights, duties and obligations. Immigration law firms provide legal counsel and guidance in business immigration, namely in preparing a variety of US non-immigrant visa petitions and applications for employment-based permanent residence. Suppliers of immigration law services counsel on immigration compliance issues, advise clients on documentary requirements and prepare the paperwork for the petitions. In addition, immigration law groups also provide representation for antidiscrimination provisions of the law. Immigration law firms do not provide employment law services.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
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IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.