According to a recent market study published by Growth Market Reports, titled, "Global Legal Research Software Market by product types, applications, end-users and by Region: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 406.1 Million in 2019 and is expected to grow at a healthy growth rate of 16.9% by the year 2027. The Legal Research Software Market is anticipated to grow significantly during forecast period. Legal research software enables lawyers to conduct legal research.

This software offers various tools for lawyers to study case laws, statutes, and specific legal practice areas. It helps lawyers in the process of storing, accessing, extracting, gathering, analyzing, and managing case documents and files. Law firms use legal research software while preparing for trial or working through a case to regulate applicable precedents and make sense of data points. Legal research tools help in minimizing errors and provides users an edge in maximizing value and closing the case.

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Global Legal Research Software Market has been fragmented based on product types, applications, end users, and by regions. In terms of product types, the global Legal Research Software Market is categorized as cloud-based and on premise. Based on applications, the market is classified as large enterprises and SMEs. In terms of end users, the market is classified as corporate law firms, legal departments, and others. By region Legal Research Software Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

North America region is further bifurcated into countries such as the U.S., and Canada. The Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, the Asia Pacific is further segmented into, China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. The European region is further categorized into Germany, France, Italy, the U.K., Spain, Russia, and the Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and the Rest of MEA.

The effect of COVID-19 pandemic situation has led to the closure of several non-essential businesses reducing the demand for industrial goods in the world, which in turn, is affecting several industries worldwide. The COVID-19 pandemic has not affected the activities across legal research software related processes worldwide, the demand for legal research software has stayed nearly constant throughout the pandemic. As the frequency of people using legal research software is increasing during the lockdown period. As people are doing their research online at home. The market is expected to witness significant growth post COVID.

As per Growth Market Reports industry analyst Akshay Udavant, “The rising number of people adopting online legal research options due to its efficiency and ease of use is anticipated to drive the growth of Legal Research Software Market significantly.

Key Takeaways from the Study

  • North America is expected to continue dominating the Legal Research Software Market due to the presence of numerous market players in the US which is expected to drive the demand for legal research software in the country.
  • Based on product types, the global legal research software market is divided into cloud-based and on-premise. The cloud-based segment is anticipated to hold a significant share of the market, owing to its low cost compared to on-premise and large data storage. The cloud-based segment is expected to dominate the market during the forecast period, due to the increasing adoption of the cloud-based model by companies. Cloud-based software is operated effortlessly and offers a set of specialized tools for lawyers, which consists of time tracking, storing, accessing, extracting, gathering, analyzing, and managing case documents and files.
  • Large enterprises provide an extensive range of legal services and judicial work, along with large-scale litigations, major business transactions, and criminal defense matters for companies belonging to various industries. Rising demand for corporate legal services from large enterprises is projected to increase the demand for legal research software during the forecast period.

Report Scope

Report Metric

Details

Market Value in 2019

USD 406.1 Million

Market Growth Rate (from 2021 to 2027)

16.9%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Market Segments

Product Types, Applications, End-Users

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, China, Japan, South Korea, India, Australia, Southeast Asia, Rest of Asia Pacific, Germany, France, Italy, U.K., Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE and Rest of MEA.

Key Companies Profiled

LexisNexis, Thomson Reuters, Wolters Kluwer N.V., Casetext, Inc, Fastcase Inc, Tologix Experts Systems Inc, UniCourt Inc., ALM Media Properties, LLC., Talisker Technology Solutions, Consilio LLC.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Legal research software service provider
  • Demand Side: Lawyers, Law students, Attorneys, and other people seeking legal information.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: International Court of Justice (ICJ), National Lawyers Guild (NLG), International Law Commission (ILC), Association of Corporate Counsel (ACC), Uniform Law Commission (ULC).