Growth in the market is led by increasing adoption of smart technologies in the legal departments coupled with the rising demand for automated legal operations and analytical needs. This has also led to an increase in the adoption of more formal and structured legal software. Moreover, operational efficiency, resource management offered by legal analytics and advancements in legal technology is further anticipated to boost legal analytics market industry across the globe
MARKET DYNAMICS
Reduction of cost and efficiency by Legal analytics and artificial intelligence are some of the major factors anticipated to boost the growth of the legal analytics market. However, various law school organizations are unaware about the functioning and benefits of legal analytics solutions. Thus, lack of awareness is expected to restrain the legal analytics market.
MARKET SCOPE
The "Global Legal Analytics Tools Market Analysis to 2028"? is a specialized and in-depth study of the legal analytics tools market with a special focus on the global market trend analysis. The report aims to provide an overview of legal analytics tools market with detailed market segmentation by component, analytics type, deployment type, end user. The global legal analytics tools market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading legal analytics tools market player and offers key trends and opportunities in the legal analytics tools market.
MARKET SEGMENTATION
The global legal analytics tools market is segmented on the basis of component, analytics type, deployment type, end user. On the basis of component, market is segmented as solution, service. On the basis of analytics type, market is segmented as descriptive analytics, prescriptive analytics, predictive analytics. On the basis of deployment type, market is segmented as on-premises, on-demand. On the basis of end user, market is segmented as corporates, law firms, others
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global legal analytics tools market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The legal analytics tools market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report also includes the profiles affecting legal analytics tools market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the legal analytics tools market in these regions.
MARKET PLAYERS
The reports cover key developments in the legal analytics tools market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from legal analytics tools market are anticipated to lucrative growth opportunities in the future with the rising demand for legal analytics tools market. Below mentioned is the list of few companies engaged in the legal analytics tools market.
The report also includes the profiles of key legal analytics tools market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Wolters Kluwer
- Thomson Reuters
- MindCrest, Inc
- UnitedLex Corporation
- Argopoint LLC
- LexisNexis
- PREMONITION
- CPA Global
- Analytics Consulting LLC
- The Bureau of National Affairs (BNA) Inc
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.