Global Legal Analytics Market To Boost And Reach About USD 1,898.9 Million By 2025

12-Nov-2020 | Zion Market Research

According to Zion Market Research, the global legal analytics market is predicted to develop from USD 458.1 million to USD 1,898.9 Million during 2019–2025, growing at a CAGR of 32.7%. The technology is changing the legal services industry. The legal analytics connotes to the manufacturing process of digging out knowledge from current legal statistics to aid in-house legal experts and policy-makers on some legal matters. This is done by estimating, comparative legal costs, legal strategy, billing optimization, process development, resource management, and financial operations. The legal analytics entails data mining from data included in documents related to matter and docket entries.

Some of the key players in the global legal analytics market are Thomson Reuters, Wolters Kluwer, Unitedlex Corporation, Mind crest, Inc., LexisNexis, Argopoint LLC., CPA Global, Premonition, The Bureau of National Affairs (BNA), Inc., Analytics Consulting LLC, Wipro Limited, International Business Machines (IBM) Corporation, and Key Innovator.

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Services and Solutions Forecasted To Boost Up The Global Legal Analytics Market

The legal state of affairs, with its multifaceted inputs and sometimes subjective outputs, might form complexity in calculating and measuring the activities and present results. The legal departments in cooperate domain function across different areas, business lines & divisions, and use non-consistent processes that are making data compilation and value-added analysis tough. The legal analytics presents an economical method to conduct complete legal research and plan for a defense with wrongdoing. Whilst preparing for both can set a limitation on the resources and amount of time that can be devoted to research.

The global legal analytics market is segmented on the basis of component, deployment model, case type, end-user, and geography. By the component, the market is classified into services and solutions. By the deployment model, the market is segmented into on-demand and on-premises. On the account of case type, the market is categorized into commercial case management, intellectual property management, and antitrust management. On the account of the end-user, the market is bifurcated into law firms, corporates, and others.

North America Region Estimated To Witness Major Growth In The Global Legal Analytics Market

On the basis of geography, the global legal analytics market is divided into Asia Pacific, North America, Middle East & Africa, Europe, and Latin America. The North America region is expected to dominate the legal analytics market in the forecasted period. This can be due to high-quality legal services offered by the players across the region, chiefly in the U.S. and Canada, to their clients. Additionally, this region has been enormously approachable toward implementing innovative technologies. North America is witnessing fast automation in legal services in different end-use industries, and prevalent adoption of legal analytics services and solutions, which is fueling the expansion of the market in North America.

Browse the full “Legal Analytics Market- by Component (Services, Solutions), by Mode of deployment (On-demand, On-premise), by Case type (Antitrust management, Intellectual property management, Commercial case management), by Analytics type (Descriptive, Predictive), by End-user (Legal firms, Corporate firms)- Global Industry Perspective Comprehensive Analysis and Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/legal-analytics-market

The global legal analytics market is segmented as follows:

By Case Type:

  • Commercial Case Management
  • Intellectual Property Management
  • Antitrust Management
  • Others (Security Litigation and Class Action Suits)

By Deployment Model:

  • On-Premises
  • On-Demand

By Component:

  • Solutions
  • Services

By Analytics Type:

  • Descriptive Analytics
  • Prescriptive Analytics
  • Predictive Analytics

By End User:

  • Corporates
  • Law Firms
  • Others (Educational Institutions, Government Departments, and Agencies)

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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