Why Invest in USD 6.8 Billion Legal Analytics Market Size Reach by 2031

Allied Market Research published a new report, titled, " Why Invest in USD 6.8 Billion Legal Analytics Market Size Reach by 2031." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Rise in adoption of automated legal analytics by firms and organizations aided in propelling the growth of the global legal analytics solutions during the forecast period, hence empowering the demand for legal analytics solution. Moreover, increase in productivity and revenue of law firms during the period has positively impacted legal analytics industry. Technological advancements such as machine learning and artificial intelligence in legal analytics for better insights is expected to offer remunerative opportunities for the expansion of the legal analytics market forecast.

Request Sample Report (Get Full Insights in PDF - 334 Pages) at: https://www.alliedmarketresearch.com/request-sample/A08128

The global legal analytics market size was valued at USD 1.5 billion in 2021, and is projected to reach USD 6.8 billion by 2031, growing at a CAGR of 16% from 2022 to 2031.

The legal analytics market is segmented on the basis of offering, deployment model, case type, analytics type, end-user and region. On the basis of offering, the market is categorized into solution and services. By service, the market is bifurcated into professional services and managed services. On the basis of deployment model, the market is classified into on-premise and cloud. By case type, the market is fragmented into commercial case management, intellectual property management, antitrust management, and others. On the basis of analytics type, the market is segregated into descriptive analytics, predictive analytics, and prescriptive analytics. On the basis of end-user, the market is divided into law firms and in-house legal counsel. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Access the full summary at: https://www.alliedmarketresearch.com/legal-analytics-market-A08128

COVID-19 Impact Analysis

● The global COVID-19 pandemic has drastically affected businesses across the world. It has positively impacted the adoption of legal analytics solution due to lockdown imposed by governments of different countries.

● The pandemic has driven workers from their office buildings to their living rooms, home offices, and guest bedrooms.

● Most businesses today have been forced to embrace cloud technology and video conferencing software such as Zoom or GoToMeeting

If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/A08128

On the basis of case type, the commercial case management segment dominated the overall legal analytics market in 2021 and is expected to continue this trend during the forecast period. This is attributed to the increase in commercial cases and adoption of legal analytics for faster resolution. However, the antitrust management segment is expected to witness the highest growth owing to rise in competition among key players and need of merger and acquisitions to gain hold position in market.

By offering, the solution segment dominated growth of the legal analytics market in 2021, and is expected to maintain its dominance in the upcoming years due to rise in adoption of analytics in legal firms and law enforcers departments for valuable insights. However, the services segment is expected to witness highest growth rate during the forecast period. Increase has been witnessed in the adoption of legal analytics services among end users over time, as they ensure effective functioning of solutions throughout the process. Moreover, increase in adoption of data analytics software and cloud platforms is expected to boost the demand for the services segment.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A08128

Region wise, the legal analytics market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on technological solutions However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding infrastructure in the region, which is expected to fuel the growth of the legal analytics industry in the region during the forecast period.

The key players profiled in the legal analytics market analysis are Clarivate, Lexisnexis, Microsoft Corporation, Thomson Reuters, Everlaw Inc., IBM Corporation, Premonition LLC, Wipro Limited, Wolters Kluwer, Evisort, Onna, Proofpoint Inc., UnitedLex Corporation, Abacus Data Systems, Axiom, Mindcrest Inc. and Smokeball. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Buy Now & Get Exclusive Discount on this Report (334 Pages PDF with Insights, Charts, Tables, and Figures) at: https://www.alliedmarketresearch.com/legal-analytics-market/purchase-options

Thanks for reading this article, you can also get an individual chapter-wise section or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205 Portland OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur's stakeholder's researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

This release was published on openPR.