Legal Analytics Market by Component (Solution, Services), Analytics Type (Descriptive, Predictive), Case Type (Commercial Case Management, IP Management), Deployment Model (On-Premises, On-Demand), End User, and Region - Global Forecast to 2022

  • ID: 4335295
  • Report
  • Region: Global
  • 113 Pages
  • Markets and Markets
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The Legal Analytics Market is Projected to Grow from USD 451.1 Million in 2017 to USD 1,858.9 Million By 2022, at a CAGR of 32.7%

FEATURED COMPANIES

  • Argopoint LLC
  • CPA Global
  • IBM Corporation
  • LexisNexis
  • MindCrest, Inc.
  • PREMONITION
  • MORE

"The growing demand for automation in legal analytics for data-driven decision-making is one of the key factors that is expected to drive the legal analytics market"

The 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. Factors, such as increase in productivity and revenue of law firms, and growing demand for automation in legal analytics for data-driven decision-making are expected to drive the legal analytics market. Lack of awareness about legal analytics among litigators and law schools can restrain the growth of the market.

"Based on component, the service segment is estimated to lead the legal analytics market in 2017"

Based on component, the services segment is estimated to lead the legal analytics market in 2017. By deploying legal analytics services, users, such as corporates, law firms, and others, can analyze data by using predictive analytics, prescriptive analytics, and descriptive analytics to add value to their business.

"Based on analytics type, the descriptive analytics segment is expected to lead the legal analytics market in 2017"

Based on analytics type, the descriptive analytics segment is estimated to lead the legal analytics market in 2017. Descriptive analytics is widely used in legal departments, as it allows organizations to learn from past behaviors and understand how they might influence future outcomes.

"Based on case type, the commercial case management segment is expected to lead the legal analytics market in 2017"

Based on case type, the commercial case management segment is estimated to lead the legal analytics market in 2017. There are three types of commercial litigations cases, namely, employer and employee disputes, breach of contract, and corporate disputes. Legal analytics plays a crucial role in helping attorneys unravel the complexity of commercial litigation by providing them with relevant data and information. This information can be used to make legal decisions and provide better counsels to clients.

Based on deployment model, the on-demand segment is expected to lead the legal analytics market in 2017"

Based on deployment model, the on-demand segment is estimated to lead the legal analytics market in 2017, due to scalability and agility of cloud-based technologies, as increasing number of enterprises are expected to adopt cloud-based deployment models. These cloud-based deployment models provide various cost-saving benefits, which, in turn, are increasing the operational efficiency of different organizations.

"Based on end user, the corporates segment of the legal analytics market is projected to witness the highest growth during the forecast period"

Based on end user, the corporates segment of the legal analytics market is expected to witness the highest growth in the coming years. Corporates refer to legal departments of various corporations, such as pharmaceutical & healthcare, automotive, BFSI, manufacturing, media & entertainment, and others. The ever-changing preferences of corporate legal departments and increasing usage of artificial intelligence to extract valuable information from existing legal data to improve business performance and efficiency, has led to the increased adoption of the legal analytics in the corporate sector.
 
"The Europe legal analytics market is expected to grow at the highest CAGR during the forecast period"

The legal analytics market has been studied for North America, Europe, Asia Pacific (APAC), and RoW. The Europe region has been widely implementing legal analytics solutions to significantly improve the productivity of law firms and corporates. Furthermore, law schools and governments of various countries in the region are implementing legal analytics.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the legal analytics marketplace.

  • By Company Type: Tier 1: 17%, Tier 2: 45%, and Tier 3: 38%
  • By Designation: C-Level: 38%, Director Level: 55%, and Others: 7%
  • By Region: North America: 42%, Europe: 30%, APAC: 18%, and RoW: 10%

Key vendors profiled in the report are as follows:
1. Wolters Kluwer (Netherlands)
2. Thomson Reuters (Canada)
3. MindCrest, Inc. (US)
4. UnitedLex Corporation (US)
5. Argopoint LLC (US)
6. LexisNexis (US)
7. PREMONITION (US)
8. CPA Global (UK)
9. Analytics Consulting LLC (US)
10. The Bureau of National Affairs (BNA) Inc. (US)
11. IBM Corporation (US)
12. Wipro Limited (India)

Research Coverage

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 legal analytics market has been segmented into solution and services. Based on analytics type, the market has been segmented into descriptive analytics, prescriptive analytics, and predictive analytics.

Based on case type, the legal analytics market has been segmented into intellectual property management, antitrust management, commercial case management, and others (security litigation and class action suits). Based on deployment model, the legal analytics market has been segmented into on-premises and on-demand. Based on end user, the legal analytics market has been segmented into corporates, law firms, and others (educational institutions, and government departments & agencies). The legal analytics market has been studied for North America, Europe, APAC, and RoW (the Middle East & Africa and Latin America).

Key Benefits of Buying the Report:

The report will help market leaders and new entrants in the legal analytics market in the following ways:

The report will help market leaders/new entrants in this market by providing them the closest approximations of revenues of the legal analytics market and its subsegments. This report will also help stakeholders better understand the competitor landscape, gain more insight to better position their businesses, and implement suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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FEATURED COMPANIES

  • Argopoint LLC
  • CPA Global
  • IBM Corporation
  • LexisNexis
  • MindCrest, Inc.
  • PREMONITION
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions
    2.4 Limitations

3 Executive Summary

4 Premium Insights
    4.1 Attractive Opportunities in the Legal Analytics Market
    4.2 Market By Component
    4.3 Market By Analytics Type
    4.4 Market By End User & Region
    4.5 Market By Region

5 Legal Analytics Market Overview and Industry Trends
    5.1 Introduction
    5.2 Value Chain
    5.3 Strategic Benchmarking
    5.4 Market Dynamics
           5.4.1 Drivers
                    5.4.1.1 Growing Demand for Automation in Legal Analytics for Data-Driven Decision Making
                    5.4.1.2 Increase in Productivity and Revenue of Law Firms
           5.4.2 Restraints
                    5.4.2.1 Lack of Awareness Among Litigators and Law Schools
           5.4.3 Opportunities
                    5.4.3.1 Increasing Demand for Legal Analytics Across Verticals
           5.4.4 Challenges
                    5.4.4.1 Security and Privacy Threat
                    5.4.4.2 Unstable Political Conditions

6 Legal Analytics Market, By Component
    6.1 Introduction
    6.2 Solution
    6.3 Services

7 Legal Analytics Market, By Analytics Type
    7.1 Introduction
    7.2 Descriptive Analytics
    7.3 Prescriptive Analytics
    7.4 Predictive Analytics

8 Legal Analytics Market, By Case Type
    8.1 Introduction
    8.2 Intellectual Property Management
    8.3 Antitrust Management
    8.4 Commercial Case Management
    8.5 Others

9 Legal Analytics Market, By Deployment Model
    9.1 Introduction
    9.2 On-Premises
    9.3 On-Demand

10 Legal Analytics Market, By End User
     10.1 Introduction
     10.2 Corporates
     10.3 Law Firms
     10.4 Others

11 Regional Analysis
     11.1 Introduction
     11.2 North America
     11.3 Europe
     11.4 Asia Pacific (APAC)
     11.5 Rest of the World (RoW)

12 Competitive Landscape
     12.1 Microquadrant Overview
             12.1.1 Visionary Leaders
             12.1.2 Innovators
             12.1.3 Dynamic Differentiators
             12.1.4 Emerging Companies
     12.2 Competitive Benchmarking
             12.2.1 Strength of Product Portfolio
             12.2.2 Business Strategy Excellence

13 Company Profiles
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key Relationships)*
     13.1 Wolters Kluwer
     13.2 Thomson Reuters
     13.3 Mindcrest
     13.4 Unitedlex
     13.5 Argopoint
     13.6 Lexisnexis
     13.7 Premonition
     13.8 Cpa Global
     13.9 Analytics Consulting LLC
     13.10 The Bureau of National Affairs (BNA)
     13.11 IBM
     13.12 Wipro
     13.13 Key Innovators

*Details on Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, Key Relationships Might Not Be Captured in Case of Unlisted Companies.

List of Tables
Table 1 Legal Analytics Market Size, By Component, 2015-2022 (USD Million)
Table 2 Solution: Market Size, By Region, 2015-2022 (USD Million)
Table 3 Services: Market Size, By Region, 2015-2022 (USD Million)
Table 4 Market Size By Analytics Type, 2015-2022 (USD Million)
Table 5 Descriptive Analytics: Market Size, By Region, 2015-2022 (USD Million)
Table 6 Prescriptive Analytics: Market Size, By Region, 2015-2022 (USD Million)
Table 7 Predictive Analytics: Market Size, By Region, 2015-2022 (USD Million)
Table 8 Market Size By Case Type, 2015-2022 (USD Million)
Table 9 Intellectual Property Management: Market Size, By Region, 2015-2022 (USD Million)
Table 10 Antitrust Management: Market Size, By Region, 2015-2022 (USD Million)
Table 11 Commercial Case Management: Market Size, By Region, 2015-2022 (USD Million)
Table 12 Others: Market Size, By Region, 2015-2022 (USD Million)
Table 13 Market Size By Deployment Model, 2015-2022 (USD Million)
Table 14 On-Premises: Market Size, By Region, 2015-2022 (USD Million)
Table 15 On-Demand: Market Size, By Region, 2015-2022 (USD Million)
Table 16 Legal Analytics Market Size, By End User, 2015-2022 (USD Million)
Table 17 Corporates: Market Size, By Region, 2015-2022 (USD Million)
Table 18 Law Firms: Market Size, By Region, 2015-2022 (USD Million)
Table 19 Others: Market Size, By Region, 2015-2022 (USD Million)
Table 20 Legal Analytics Market Size, By Region, 2015-2022 (USD Million)
Table 21 North America: Market Size, By Component, 2015-2022 (USD Million)
Table 22 North America: Market Size, By Analytics Type, 2015-2022 (USD Million)
Table 23 North America: Market Size, By Case Type, 2015-2022 (USD Million)
Table 24 North America: Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 25 North America: Market Size, By End User, 2015-2022 (USD Million)
Table 26 Europe: Legal Analytics Market Size, By Component, 2015-2022 (USD Million)
Table 27 Europe: Market Size, By Analytics Type, 2015-2022 (USD Million)
Table 28 Europe: Market Size, By Case Type, 2015-2022 (USD Million)
Table 29 Europe: Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 30 Europe: Market Size, By End User, 2015-2022 (USD Million)
Table 31 Asia Pacific: Market Size By Component, 2015-2022 (USD Million)
Table 32 Asia Pacific: Market Size, By Analytics Type, 2015-2022 (USD Million)
Table 33 Asia Pacific: Market Size, By Case Type, 2015-2022 (USD Million)
Table 34 Asia Pacific: Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 35 Asia Pacific: Market Size, By End User, 2015-2022 (USD Million)
Table 36 RoW: Legal Analytics Market Size, By Component, 2015-2022 (USD Million)
Table 37 RoW: Market Size, By Analytics Type, 2015-2022 (USD Million)
Table 38 RoW: Market Size, By Case Type, 2015-2022 (USD Million)
Table 39 RoW: Market Size, By Deployment Model, 2015-2022 (USD Million)
Table 40 RoW: Market Size, By End User, 2015-2022 (USD Million)
Table 41 Market Ranking for the Market, 2017
 
List of Figures
Figure 1 Legal Analytics Market: Research Design
Figure 2 Breakdown of Primary Interview: By Company Type, Designation, and Region
Figure 3 Data Triangulation
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Assumptions
Figure 7 Based on Deployment Model, the On-Demand Segment of the Market is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 8 North America is Estimated to Account for the Largest Share of the Market in 2017
Figure 9 Growing Demand for Automation Legal Analytics for Data-Driven Decision Making is Expected to Drive the Legal Analytics Market During the Forecast Period
Figure 10 Based on Component, the Services Segment is Projected to Grow at A Higher CAGR During the Forecast Period
Figure 11 The Predictive Analytics Segment is Estimated to Grow at the Highest CAGR During the Forecast Period
Figure 12 North America is Estimated to Lead the Legal Analytics Market in 2017
Figure 13 Europe Market is Projected to Grow at the Highest CAGR From 2017 to 2022
Figure 14 Market Value Chain Analysis
Figure 15 Strategic Benchmarking: Organic Growth Strategies
Figure 16 Drivers, Restraints, Opportunities, and Challenges in the Market
Figure 17 The Services Segment of the Market is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 18 The Predictive Analytics Segment of the Market is the Expected to Grow at the Highest CAGR During the Forecast Period
Figure 19 The Commercial Case Management Segment of the Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 The On-Demand Segment of the Market is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 21 Based on End User, the Corporates Segment of the Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 22 North America is Projected to Lead the Legal Analytics Market During the Forecast Period
Figure 23 Legal Analytics Market Snapshot
Figure 24 North America Market Snapshot
Figure 25 Europe Market Snapshot
Figure 26 Market: Competitive Leadership Mapping, 2017
Figure 27 Wolters Kluwer: Company Snapshot
Figure 28 Product Offerings Scorecard
Figure 29 Business Strategies Scorecard
Figure 30 Thomson Reuters: Company Snapshot
Figure 31 Product Offerings Scorecard
Figure 32 Business Strategies Scorecard
Figure 33 Product Offerings Scorecard
Figure 34 Business Strategies Scorecard
Figure 35 Product Offerings Scorecard
Figure 36 Business Strategies Scorecard
Figure 37 Product Offerings Scorecard
Figure 38 Business Strategies Scorecard
Figure 39 Product Offerings Scorecard
Figure 40 Business Strategies Scorecard
Figure 41 Product Offerings Scorecard
Figure 42 Business Strategies Scorecard
Figure 43 Product Offerings Scorecard
Figure 44 Business Strategies Scorecard
Figure 45 Product Offerings Scorecard
Figure 46 Business Strategies Scorecard
Figure 47 Product Offerings Scorecard
Figure 48 Business Strategies Scorecard
Figure 49 IBM: Company Snapshot
Figure 50 Product Offerings Scorecard
Figure 51 Business Strategies Scorecard
Figure 52 Wipro: Company Snapshot
Figure 53 Product Offerings Scorecard
Figure 54 Business Strategies Scorecard

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  • Analytics Consulting LLC (US)
  • Argopoint LLC
  • CPA Global
  • IBM Corporation
  • LexisNexis
  • MindCrest, Inc.
  • PREMONITION
  • The Bureau of National Affairs (BNA) Inc.
  • Thomson Reuters
  • UnitedLex Corporation
  • Wipro Limited
  • Wolters Kluwer
Note: Product cover images may vary from those shown
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