|03-11-2019 05:31 AM CET - Politics, Law & Society||
Legal Analytics Market 2018-2025 | Prominent Key Players (Wolters Kluwer, Thomson Reuters, MindCrest, UnitedLex Corporation, IBM, Wipro, the Bureau of National Affairs, Analytics Consulting LLC, CPA Global, LexisNexis, and PREMONITION)
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Legal analytics refers to the managing process of extracting knowledge from existing legal data to help in-house legal teams and decision-makers on certain legal matters. This is done by forecasting, legal strategy, comparative legal costs, process development, billing optimization, financial operations and resource management. Legal analytics involves data mining from data contained in documents related to case and docket entries. This data is then accumulated to provide previously unknown insights into the behavior of the judges, lawyers, organizations such as courts law firm and parties involved.
The legal analytics market is expected to grow from US$ 451.1 Million in 2018 to US$ +1,858.9 Million by 2025, at a Compound Annual Growth Rate (CAGR) of +32.7% from 2018 to 2025.
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Top Key Players:
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)
Among regions, North America is predicted to be the leading Legal Analytics market over the forecast period. This growth is mainly because of the high-quality legal services that are being offered by the vendors in this region, primarily in the U.S. and Canada. Along with witnessing a rapid adoption of latest technologies, this region is also experiencing rapid automation in legal services across various end-use industries. Furthermore, widespread adoption of legal analytics solutions and services is also boosting the growth of this market in North America.
Market segment by Type, Legal Analytics can be split into
• Descriptive Analytics
• Prescriptive Analytics
• Predictive Analytics
Market segment by Application, Legal Analytics can be split into
• Law Firms
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The research report on the Legal Analytics market provides an in-depth analysis of this business sphere in question, with respect to a plethora of vital factors such as the market size with regards to volume and valuation. The report elucidates, in extensive detail, a concise brief about the industry segmentation as well as a highly dependable evaluation of the present status of this market. The competitive landscape of this industry arena and its regional spectrum have been enumerated in excruciating detail in the study.
Highlights of the Report:
• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Legal Analytics Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market
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Table of Content:
Global Legal Analytics Market Research Report
1. Market Overview
2. Competition Analysis by Players
3. Company (Top Players) Profiles
4. Legal Analytics Market Size by Type and Application
5. US Market Status and Outlook
6. EU Development Market Status and Outlook
7. Japan Market Development Status and Outlook
8. China Market Status and Outlook
9. India Global Legal Analytics Market Status and Outlook
10. Southeast Asia Market Status and Outlook
11. Market Forecast by Region, Type and Application
12. Market Dynamics
13. Market Effect Factor Analysis
14. Research Finding/ Conclusion
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This release was published on openPR.
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