Corporate Sector to witness High Demand for Legal Analytics Solutions through 2022: TechSci Study

Burgeoning demand for automated legal operations, rapid digitalization in the marketplace and changing governance administration policies to drive global legal analytics market through 2022

According to a recently released TechSci Research report, “Global Legal Analytics Market By Component, By Deployment Mode, By Analytics Type, By Case Type, By End User Sector, By Region, Competition Forecast & Opportunities, 2022”, the global legal analytics market is projected to grow at a CAGR of over 31% during 2017 – 2022. Anticipated growth in the market is expected to be led by rapid digitalization in the marketplace and increasing penetration of smart technologies in legal operations. Moreover, rising demand for automated, Do-It-Yourself (DYI), on-demand legal operations, coupled with constantly changing governance administration policies is further expected to drive the legal analytics market across the globe in the coming years.

Browse 120 market data Tables and 108 Figures spread through 218 Pages and an in-depth TOC on “Global Legal Analytics Market”

https://www.techsciresearch.com/report/global-legal-analytics-market/1267.html

On the basis of different component segments, services segment is expected to grow at the highest CAGR on account of increasing demand for cost-saving, time-efficient and customized legal services. By deployment mode, on-demand segment is anticipated to gain rapid traction during the forecast period, owing to increasing demand for personalized and customized legal services. Amongst analytics types, descriptive analytics segment is expected to dominate the global legal analytics market through 2022, while predictive analytics segment is anticipated to be the fastest growing vertical during the forecast period. Law firms emerged as the major end users of legal analytics market in 2016 and are expected to remain dominant during the forecast period as well. A large demand for legal analytics solutions emanates from North America, owing to the presence of a large tech-savvy population, digitalized governance and huge economies of the constituent countries – US and Canada. In 2016, Wolter Kluwer was the market leader in global analytics market, followed by Thomson Reuter and LexisNexis.

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“With the rising adoption of legal analytics across various end user sectors, such as corporate and government sectors, legal analytics market is expected to witness robust growth across the globe over the course of next five years. Furthermore, increasing demand for automation, customized and cost-effective legal operations, coupled with consumerization of IT is expected to further steer the global legal analytics market until 2022.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Legal Analytics Market By Component, By Deployment Mode, By Analytics Type, By Case Type, By End User Sector, By Region, Competition Forecast & Opportunities, 2022” has evaluated the future growth potential of the legal analytics market and has also provided the statistics and information on market structure, size, share and future growth of global legal analytics market. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities existing in the global legal analytics market.

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