Chambers USA 2026: client demand rises, but cost scrutiny now defines the pitch

Chambers' 2026 trends note that 39% of clients expect their need for legal counsel to increase in the next year, with the strongest demand expectations in private equity secondaries, private credit and projects. At the same time, clients are placing greater scrutiny on fee levels, value for money and budget predictability, and are limiting premium outside counsel use to the most critical matters. The demand outlook is positive, but not indiscriminate. Firms with growth practices still need sharper matter scoping, upfront budgeting and demonstrable efficiency; pricing credibility is becoming a core competitive differentiator, not an administrative add-on.