The legal analytics market is expected to grow from US$ 451.1 Million in 2019 to US$ +1,858.9 Million by 2025, at a Compound Annual Growth Rate (CAGR) of +32.7% from 2019 to 2025.
Legal analytics is the application of data analysis methods and technologies within the field of law. The data gathered is used to improve efficiency, gain insights and extract a greater value from the provided data. 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.
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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)
The report has been generated by examining different geographies such as North America, Latin America, Middle East, Africa, and Europe. Static and dynamic landscapes of the global Legal Analytics market are also analyzed through analysis methods such as primary and secondary research. The primary objective of this enormous report is to offer an exact and complete analysis of global market trends such as IOT, AI and different technologies in industry.
Market segment by Type:
- Descriptive Analytics,
- Prescriptive Analytics,
- Predictive Analytics
Market segment by Application:
- 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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