Legal Analytics Market to Reach $1.8 Billion by 2022 - Automation in Legal Analytics for Data-Driven Decision-Making

DUBLIN, July 26, 2017 /PRNewswire/ --

The "Legal Analytics Market - Global Forecast to 2022" report has been added to Research and Markets' offering.

The global legal analytics market is projected 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% during the forecast period. The growing demand for automation in legal analytics for data-driven decision-making, and increase in productivity and revenue of law firms are some of the major factors driving the market.

The legal analytics market has been segmented on the basis of component, analytics type, case type, deployment model, end user, and region. Based on component, the market has been further classified into solution and services. The services segment is expected to grow at the highest CAGR during the forecast period. Based on analytics type, the market has been segmented into descriptive analytics, prescriptive analytics, and predictive analytics. The descriptive analytics segment is expected to lead the market during the forecast period.

Based on deployment model, the market has been divided into on-premises and on-demand. The on-demand segment is expected to grow at the highest CAGR during the forecast period. Based on end user, the market has been segmented into law firms, corporates, and others. Based on case type, the market has been segmented into intellectual property management, antitrust management, commercial case management, and others. The legal analytics market has been studied for North America, Asia Pacific, Europe, and Rest of the World (RoW).

Factors restraining the growth of the legal analytics market include lack of awareness and understanding about legal analytics. Most small and medium-sized law firms are not aware about legal analytics solutions and continue to use the traditional approach or methodology for effective decision-making. Legacy law firms are still following the traditional way of storing and managing huge repository of data. Additionally, several law school firms are unware about the functioning and benefits of legal analytics solutions. Thus, both enterprises and law firms need to be updated about legal analytics and its benefits.  

Companies Mentioned

• Analytics Consulting Llc
• Argopoint Llc.
• CPA Global
• International Business Machines (Ibm) Corporation
• Lexisnexis
• Mindcrest, Inc.
• Premonition
• The Bureau of National Affairs (Bna), Inc.
• Thomson Reuters
• Unitedlex Corporation
• Wipro Limited
• Wolters Kluwer
  

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview And Industry Trends

6 Legal Analytics Market, By Component

7 Legal Analytics Market, By Analytics Type

8 Legal Analytics Market, By Case Type

9 Legal Analytics Market, By Deployment Model

10 Legal Analytics Market, By End User

11 Regional Analysis

12 Competitive Landscape

13 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/dc4glv/legal_analytics

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