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LEGAL ANALYTICS MARKET IS SET TO EXPERIENCE REVOLUTIONARY GROWTH BY 2026 : IBM, WIPRO, UNITEDLEX

Legal Analytics Market is accounted for $456.1 million in 2017 and is expected to reach $5100.3 million by 2026 growing at a CAGR of 30.8% during the forecast period. Increasing demand for automation in legal analytics for data-driven decision making and technological advancements are some of the factors fueling the market growth. However, lack of awareness among litigators is hampering the market growth.

Major Key Players of the Legal Analytics Market are:
IBM, Wipro, Unitedlex, Wolters Kluwer, Mindcrest, Agropoint Llc., Cpa Global and Lexisnexis.

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Legal analytics refers to the managing process of extracting knowledge from existing legal data to help in-house legal teams and decision-makers on certain legal matters. It involves data mining from data contained in documents related to case and docket entries. This is done by forecasting, legal strategy, comparative legal costs, process development, billing optimization, financial operations and resource management.

Based on component, Services segment has witnessed the steady growth during the forecast period owing to there is a need to improve quality and remain operational cost low. Moreover, it also results in revenue generation. By geography, North America holds the largest market share during the forecast period due to high-quality legal services provided by vendors in the region to their clients.

Major Types of Legal Analytics Market covered are:
Prescriptive Analytics
Predictive Analytics
Descriptive Analytics
Other Analytics Types

Major Applications of Legal Analytics Market covered are:
Law Firms
Corporates
Other End Users

Research objectives:-

– To study and analyze the global Legal Analytics consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Legal Analytics market by identifying its various sub-segments.
– Focuses on the key global Legal Analytics manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Legal Analytics with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

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Table of Content

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Legal Analytics Market Size
2.2 Legal Analytics Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Legal Analytics Market Size by Manufacturers
3.2 Legal Analytics Key Players Head office and Area Served
3.3 Key Players Legal Analytics Product/Solution/Service
3.4 Date of Enter into Legal Analytics Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Legal Analytics Sales by Product
4.2 Global Legal Analytics Revenue by Product
4.3 Legal Analytics Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Legal Analytics Breakdown Data by End User

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In the end, Legal Analytics industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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