Legal Analytics Market to Reach $6.8 Billion by 2031 at a CAGR of 16%

Rise in AI application in legal analytics, and technological breakthroughs to boost the global legal analytics market surge.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 24, 2025 /EINPresswire.com/ -- The 𝐋𝐞𝐠𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market. The global legal analytics market size was valued at $1.5 billion in 2021, and is projected to reach $6.8 billion by 2031, growing at a CAGR of 16% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 334 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A08128

Legal analytics is the application of data analysis methods and technologies within the field of law to improve efficiency, gain insight and realize greater value from available data. In addition, legal analytics is an exciting and promising application that’s made a monumental impact on everything from law schools, to legal best practices, and even litigation strategy. Moreover, legal analytics can also help legal leaders to understand their ideal client, and where their practice stands compared to competitors, so they can devise a more effective marketing strategy that resonates with their target audience.

The report offers detailed segmentation of the global legal analytics market based on offering, case type, deployment mode, analytics type, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/legal-analytics-market/purchase-options

Based on case type, the commercial case management segment held the huge chunk of market share in 2021, holding more than half of the global legal analytics market share, and is expected to maintain its leadership status during the forecast period. The antitrust management segment, on the other hand, is expected to cite the fastest CAGR of 18.3% during the forecast period.

Rise in adoption of automated legal analytics by firms and organizations aided in propelling the growth of the global legal analytics solutions during the forecast period, hence empowering the demand for legal analytics solution. Moreover, increase in productivity and revenue of law firms during the period has positively impacted legal analytics industry. However, high initial set-up cost of legal analytics is anticipated to hamper the legal analytics market during the forecast period. On the contrary, technological advancements such as machine learning and artificial intelligence in legal analytics for better insights is expected to offer remunerative opportunities for the expansion of the legal analytics market forecast.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

Onna Technologies Inc., LEXISNEXIS., Abacus Data Inc., Proofpoint, Inc., Wipro Limited, clarivate analytics, Evisort, Inc., Wolters Kluwer, Smokeball Digital Solutions, LLC, Premonition Technologies, Inc., Everlaw, Inc., Thomson Reuters Corporation, Axiom Global Inc., Microsoft Corporation, IBM Corporation (U.S.), UnitedLex Corporation, Mindcrest

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A08128

By offering, the solution segment dominated growth of the legal analytics market in 2021, and is expected to maintain its dominance in the upcoming years due to rise in adoption of analytics in legal firms and law enforcers departments for valuable insights. However, the services segment is expected to witness highest growth rate during the forecast period. Increase has been witnessed in the adoption of legal analytics services among end users over time, as they ensure effective functioning of solutions throughout the process. Moreover, increase in adoption of data analytics software and cloud platforms is expected to boost the demand for the services segment.

Based on region, the market across North America held the major market share in 2021, holding more than two-fifths of the global legal analytics market share, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 19.5% during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A08128

Based on deployment mode, the on-premise segment held the highest market share in 2021, holding nearly three-fifths of the global legal analytics market share, and is expected to maintain its leadership status during the forecast period. The cloud segment, on the other hand, is expected to cite the fastest CAGR of 16.9% during the forecast period.

Region wise, the legal analytics market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on technological solutions However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding infrastructure in the region, which is expected to fuel the growth of the legal analytics industry in the region during the forecast period.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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