HOME Press Releases Legal Analytics Market worth 1,858.9 Million USD by 2022



Legal Analytics Market worth 1,858.9 Million USD by 2022


The report "Legal Analytics Market by Component (Solution, Services), Analytics Type (Descriptive, Predictive), Case Type (Commercial Case Management, IP Management), Deployment Model (On-Premises, On-Demand), End User, and Region - Global Forecast to 2022", The legal analytics market is expected to grow from USD 451.1 Million in 2017 to USD 1,858.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 32.7% from 2017 to 2022. The market is primarily driven by the growing demand for automation in legal analytics for data-driven decision-making, and increase in productivity and revenue of law firms.

     Download PDF Brochure     Speak to Analyst     Inquiry Before Buying

Browse 41 Market Data Tables and 54 Figures spread through 111 Pages and in-depth TOC on "Legal Analytics Market by Component (Solution, Services), Analytics Type (Descriptive, Predictive), Case Type (Commercial Case Management, IP Management), Deployment Model (On-Premises, On-Demand), End User, and Region - Global Forecast to 2022"
http://www.marketsandmarkets.com/Market-Reports/legal-analytics-market-85524032.html
Early buyers will receive 10% customization on reports.

Based on component, the services segment of the legal analytics market is expected to witness the highest growth during the forecast period

Based on component, the legal analytics market has been segmented into solution and services. The services segment is expected to witness the highest growth during the forecast period, as there is a need to enhance quality and keep operational cost low. Moreover, it also results in revenue generation.

Based on analytics type, the predictive analytics segment of the legal analytics market is expected to grow at the highest CAGR during the forecast period

Based on analytics type, the legal analytics market has been segmented into descriptive analytics, prescriptive analytics, and predictive analytics. The predictive analytics segment is expected to witness the highest growth during the forecast period, as predictive analytics is the core enabler of the Big data, allowing legal business providers to use historical data combined with customer insight to predict future events. This analytics type helps in understanding probable risks and opportunities in a market.

Based on case type, the commercial case management segment of the legal analytics market is expected to grow at the highest CAGR during the forecast period

Based on case type, the commercial case management segment of the legal analytics market is estimated to witness the highest growth during the forecast period, as there is a need for relevant general litigation tags, including orders for contested dismissal or summary judgment, declaratory judgment, multi-district litigation, class action, jury trial, bench trial, and appeal.

Based on deployment model, the on-demand segment of the legal analytics market is expected to grow at the highest CAGR during the forecast period

Based on deployment model, the on-demand segment of the legal analytics market is estimated to witness the highest growth, owing to the advent of Big Data and cloud computing.

Based on end user, the law firms segment is estimated to lead the legal analytics market in 2017

Based on end user, the law firms segment of the legal analytics market is expected to witness the highest growth in the coming years. Legal analytics are used in law firms to make the legal process more efficient, and derive in-depth insight and forecast the outcome of the case. Furthermore, law firms are significantly adopting legal analytics, as it reduces manual efforts and saves time.

North America is expected to lead the legal analytics market during the forecast period

North America is estimated to lead the legal analytics market in 2017, owing to high-quality legal services provided by vendors in the region to their clients. Moreover, this region is witnessing rapid automation in legal services across various end-use industries, and widespread adoption of legal analytics solutions and services.

The report encompasses the competitive landscape, which presents the positioning of 18 key vendors of legal analytics solutions and services, based on their product offerings and business strategies. Some of the major solution and service vendors include the Wolters Kluwer (Netherlands), Thomson Reuters (Canada), MindCrest, Inc. (US), UnitedLex Corporation (US), Argopoint LLC (US), LexisNexis (US), PREMONITION (US), CPA Global (UK), Analytics Consulting LLC (US), The Bureau of National Affairs (BNA) Inc. (US), IBM Corporation (US), and Wipro Limited (India).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports