The global legal analytics market revenue was around US$ 2.0 billion in 2023 and is estimated to reach US$ 7.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 16% during the forecast period from 2024 to 2032.

Legal analytics contains gathering data, analyzing it, and utilizing its power to aid legal firm?s clients and law practice. Also, legal analytics authorizes lawyers to assess new cases before accepting them, facilitate workflows, and develop better strategies. Legal analytics tools save lawyers a lot of time, making them more productive and their practice more profitable and efficient. The tools offer invaluable information on opposing counsel, giving lawyers a competitive edge.

Factors Influencing Market Growth

- The rising demand for analytical tools to accomplish automated legal organization is another key factor propelling the growth of the legal analytics market.

- The augmented profitability and productivity of law firms propels the growth of the legal analytics market.

- The lack of knowledge about analytics technology and the high-cost setup of legal analytics hinders the growth of the legal analytics market.

- The adoption of artificial intelligence and machine learning in analytics offers ample growth opportunities for the legal analytics market.

Impact of COVID-19

The impact of COVID-19 pandemic had a positive influence on the global legal analytics market due to the lockdown charged by governments of different countries. The COVID-19 pandemic has forced workers from their office buildings to their home offices, living rooms, and guest bedrooms. Most businesses today have been propelled to adopt cloud technology and video conferencing software like GoToMeeting or Zoom.
Also, as industries shift toward digitalization, the legal analytics solution is a great alternative, as it offers agile efficiency by stopping manual tasks.

Regional Analysis

North America dominates the global legal analytics market. The growth of the market in this region is attributed to several factors, like the increase in digitalization and the adoption of legal analytics solutions by end-users in Canada and the U.S. Moreover, the presence of key players is offering abundant growth opportunities for the legal analytics market.

Also, Asia-Pacific is anticipated to notice the highest growth rate during the forecast period because of the rapid digitalization and technological improvements in the Asia-Pacific region.

Leading Companies

The leading prominent companies profiled in the global legal analytics market are: -

- Clarivate
- LexisNexis
- Microsoft Corporation
- Thomson Reuters
- Everlaw Inc.
- IBM Corporation
- Premonition LLC
- Wipro Limited
- Wolters Kluwer
- Evisort
- Onna
- Proofpoint Inc.
- UnitedLex Corporation
- Abacus Data Systems
- Axiom
- Mindcrest Inc.
- Smokeball.
- Other prominent key players

Segmentation Outline

The global legal analytics market segmentation focuses on Offering, Case Type, Deployment Mode, Analytics Type, End-user, and Region.

Segmentation based on Offering

- Solution
- Services
- Professional Services
- Managed Services

Segmentation based on Case Type

- Commercial Case Management
- Intellectual Property Management
- Antitrust Management
- Others

Segmentation based on Deployment Mode

- On-premise
- Cloud

Segmentation based on Analytics Type

- Descriptive Analytics
- Predictive Analytics
- Prescriptive Analytics

Segmentation based on End-user

- Law Firms
- In-house Legal Counsel

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa