Legal Analytics Market – Industry Analysis and Market
Legal Analytics Market is expected to reach USD XX Billion by 2024 from USD XX Billion in 2016 at a CAGR of XX%.
The Asia Pacific market for legal analytics are segmented by component, analytics type, case type, deployment model, end-user, and geography. Based on components, the market is bifurcated into solution, and services. By analytics type, the market comprises of prescriptive analytics, descriptive analytics, and predictive analytics. On the basis of case type, the market includes commercial case management, antitrust management, intellectual property management, and others. The deployment model, for the market includes on-premises, and on-demand. Law firms, corporates, and others are the end-users for the legal analytics market
Owing to the legal technologies having streamlined across various legal industries all around the world, countries such as Australian and their firms have quickly adopted them. However, Chinese and American counterparts, were faster in adopting legal analytics for its firms because of the complexities and overall nature of the business. The legal analytics in Australia are still in the stage of overcoming major regulatory hurdles as well as market pressures for becoming a viable solution across the Australian market.
Essentially, the China’s escalating system of civil law involve the judgments that are present outside any given court can be far more persuasive, along with giving the individual judge a large place of discretion for making and giving their decision. The complete statistical analysis of judicial behaviour gets more useful here while assisting potential litigants to understand what are the discretionary tendencies being exercised by each of the judges that further boost the demand for legal analytics.
China, India, Japan, South Korea and Australia are some of the key countries that been the major contributors of the growth of Legal Analytics market in Asia Pacific region. Legal analytics is an offshoot of the big data analytics being used in the business world for managing the legal complications of businesses and firms.
Key players operated in market includes Unitedlex, Lexisnexis, Argopoint, Wolters Kluwer, Mindcrest, Thomson Reuters, Cpa Global, The Bureau of National Affairs (BNA), Wipro, IBM.
The scope of Asia Pacific Legal Analytics Market:
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Asia Pacific Legal Analytics Market by Component:
Asia Pacific Legal Analytics Market by Analytics Type:
- Prescriptive Analytics
- Descriptive Analytics
- Predictive Analytics
Asia Pacific Legal Analytics Market by Case Type:
- Commercial Case Management
- Antitrust Management
- Intellectual Property Management
Asia Pacific Legal Analytics Market by Deployment Model:
Asia Pacific Legal Analytics Market by End-User:
- Law Firms
Asia Pacific Legal Analytics Market by Geography:
- Asia Pacific
- South Korea
Key Players Operated in Asia Pacific Legal Analytics Market:
- Wolters Kluwer
- Thomson Reuters
- Cpa Global
- The Bureau of National Affairs (BNA)
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