Global Legal Analytics Market, By Component (Solution, Services), Analytics Type (Descriptive, Predictive), Case Type (Commercial Case Management, Antitrust Management and Others), Deployment Model (On-Premises, On-Demand), End User (Legal Firms, Corporate, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) - Industry Trends and Forecast to 2029
Market Analysis and Insights Global Legal Analytics Market
Data Bridge Market Research analyses that the legal analytics market will exhibit a CAGR of 3.06% for the forecast period of 2022-2029.
The practice of analyzing data utilizing legal research software tools and technologies in the realm of law is known as legal analytics. The approach allows us to acquire actionable insights and validated data, which improves efficiency and gives benefits that help the company make money. The useful information is pulled from current legal sources, making it easier to plan legal strategy, make decisions, run financial operations, and manage resources. It is widely used in the sector of corporate and law firms for a variety of solutions and services.
The legal analytics market is being driven by the rising adoption of automated legal analytics by firms and organizations for data-driven decision making. The upsurge in the productivity and revenues of law firms is a major factor driving the market's growth. The rising adoption of artificial intelligence and technological advancement are driving up demand for legal analytics market. Other significant factors such as growing urbanization and increasing level of investment by public and private organizations will cushion the growth rate of legal analytics market. Another vital factor includes the high adoption rate because of reducing cost and efficiency will accelerate the growth of legal analytics market. Furthermore, increasing digitalization in emerging economies will influence the legal analytics market for the forecast period mentioned above.
Moreover, expansion of end-use industries and emerging new market will boost the beneficial opportunities for the legal analytics market growth. Various technical innovations and strategic collaborations are expected to create new opportunities for the legal analytics market in the future years.
However, high cost of installment and the dearth of awareness among litigators and law schools will hinder the growth of the legal analytics market. Also, the dearth of skilled professionals will further pose challenges to the market. Other factors including lack of awareness about technology and security as well as privacy threat will act as market restrain and will further obstruct the growth rate of legal analytics market.
This legal analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on legal analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Legal Analytics Market Scope and Market Size
The legal analytics market is segmented on the basis of component, analytics type, case type, deployment model, and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the legal analytics market is segmented into solution and services.
- On the basis of analytics type, the legal analytics market is segmented into descriptive, and predictive.
- On the basis of case type, the legal analytics market is segmented into commercial case management, antitrust management and others.
- On the basis of deployment model, the legal analytics market is segmented into on-premises, and on-demand.
- On the basis of end user, the legal analytics market is segmented into legal firms, corporate, and others.
Legal Analytics Market Country Level Analysis
The legal analytics market is analysed and market size, volume information is provided by country, component, analytics type, case type, deployment model, and end user as referenced above.
The countries covered in the legal analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is projected to exhibit the highest growth rate during the forecast period of 2022-2029 due to the development of legal analytics and merchants proposing juridical analytics co-operation in this region. Additionally, presence of major key players and proliferation of technology industry will further propel the market’s growth rate in this region.
The country section of the legal analytics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Legal Analytics Market Share Analysis
The legal analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to legal analytics market.
Some of the major players operating in the legal analytics market are Wolters Kluwer N.V., Mindcrest Inc., UnitedLex, Thomson Reuters, Argopoint LLC, Premonition, ANALYTICS, Clarivate, The Bureau of National Affairs, Inc., Wipro Limited, IBM, LexisNexis, Smokeball, Inc., Rocket Matter, Everlaw, and AbacusNext, among others.
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
