Litigation Management Software Market to Witness an Outstanding Growth by 2022
Litigation management software market is segmented on the basis of deployment and end-users. In terms of deployment, litigation management software is further segmented as web based services and cloud based services. In web based service, the software services are provided to the user by service provider through World Wide Web. A litigation management software is installed at the user end and all client related information is stored in the user’s data storage device. While, the cloud based litigation management software provides the services from remotely located data center and provides ease in accessing the data from everywhere. On the basis of end-users, litigation management software is further segmented as legal firms, alternative business structures, and government.
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The increasing lawsuits filing and rising pressures on case workers is the key factor, which is driving the market. Also, augmenting demand to improve the existing case management services is fuelling the demand for litigation management software market. However, lack of awareness of this tool amongst the larger pool of practitioners is expected to restrain the market growth. Also, data security concerns for cloud based services is expected to further curb its market growth. Further, with increasing adaptability towards application based services and rising trends of automated services in emerging economies is expected to boost the litigation management software market in near term.
On a global perspective, North America region is expected to dominate the litigation management software market amongst other regions. The increasing lawsuit filings and established network architecture will be the key factor leading to the adoption of litigation management software in this region. However, with rising adoptability of web-enabled services amongst the emerging economies, especially in Asia-Pacific region, adoption of litigation management tools is expected to surge thereby escalating the growth rate during the forecast period. In terms of end-users, legal firms are expected to hold the largest market share. To avoid conventional paper based services and improve working efficiency at federal courts, litigation management software will pursue significant adoption. Also, alternative business centers are expected to significantly increase their market share in terms of adoption of litigation management software during the forecast period.
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Some of the major developers of the litigation management software’s includes Peppermint Technology Limited, Themis Solutions, Inc., AppFolio, Inc., CaseFox, Inc., FileVine, LLC, Advantagelaw, Inc., Practice Technology, Inc., Captorra, LLC, LogicBit Software LLC (HoudiniEsq), IBM Corporation, Synergy International Systems, Inc., Lawcus LLC, Lucid IQ, LexisNexis, Needles Case Management, Lawex Corporation, Shriya Innovative Solutions Pvt. Ltd., Aderant Holdings, Inc., Ad Coelum Technology Ltd., Legal Suite S.A.S., Crocodile Solutions, and Merus, Inc.
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