New York, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Legal Case Management Software Market Size, Share, Growth Drivers and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Deployment (On-Premises, Cloud), End-User (Small and Medium Enterprises and Large Enterprises), and Geography”; The global legal case management software market size was valued at USD 0.776 billion in 2020 and is projected to reach USD 1.91 billion by 2028; it is expected to grow at a CAGR of 12.4% during 2021–2028.
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Global Legal Case Management Software Market – Report Scope:
| Market Size Value in | USD 0.776 Billion in 2020 |
| Market Size Value by | USD 1.91 Billion by 2028 |
| Growth rate | CAGR of 12.4% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 139 |
| No. of Tables | 62 |
| No. of Charts & Figures | 70 |
| Historical data available | Yes |
| Segments covered | Deployment, End-User, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Impact of COVID-19 Pandemic on Global Legal Case Management Software Market Growth:
The COVID-19 pandemic has had a negative impact on the legal procedures across the globe. With no immediate solution in sight to the economic recession, law firms are facing immense challenges. Although most of industries, including restaurants, entertainment, and travel, have been ravaged, law firms are also fighting to continue serving their clients while avoiding financial losses. To continue to run their companies and represent their clients in a hassle-free manner, law firms in are opting for tools enabled with cutting-edge technologies and techniques. Thus, the rise in technology adoption across the legal industry in the region is contributing to the legal case management software market growth during the pandemic.
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Key Findings of Study:
The global legal case management software market is segmented into five major regions—North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (SAM). North America held the largest share of the market in 2020, followed by Europe and APAC, respectively. Further, APAC is projected to register the highest CGAR during the forecast period. The legal case management software market is segmented on the bases of deployment, end-user, and geography. Based on deployment, the market is segmented into on-premise and cloud. The cloud segment represented a larger share of the overall market in 2020. In terms of end-user, the legal case management software market is segmented into small & medium enterprises and large enterprises. In 2020, the small & medium enterprise segment accounted for a substantial share of the market.
The global legal case management software market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. North America holds the dominant share in the legal case management software market, whereas APAC is expected to be the fastest-growing region in the global market. The legal jurisdiction across the region have experienced high adoption of digital solutions such as digital reporting over the years. For instance, the US have recorded high adoption of digital reporting solutions, which enables official recording to court proceeding for efficient case management. This solution helps in catering the shortage of reports across federal and state courts. The solution also reduces the operational cost by minimizing the number of personnel required for proceedings. Thus, owing to the above-mentioned factors, the legal industry has experienced high adoption of technology over the years, thereby, propelling the growth of the legal case management software market across North America.
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Legal case management software, also known as matter management software, offers the convenience to lawyers to keep a track of their practice (including past, ongoing, or future cases and clients). This can the software may enable include paper assembly for of pertinent case specifics, opposition notes where applicable, time tracking, and any other case-related material. To collect relevant case details, legal case management software is often combined with e-discovery tools, and to monitor man-hours and process fees from clients, it also integrates or comes bundled with legal billing software. A legal case management software also benefits by ensuring Client satisfaction and data centralization are among the benefits of using a legal case management software. Word-of-mouth referrals and online ratings, as well as the credibility of a law firm, are all dependent on client satisfaction. Law firms ensure that Client messages, deadlines, and assignments will are not slip slipped through the cracks with the right case management software, ensuring that the clients have a positive satisfactory experience every time. Similarly, Furthermore, the centralized systems of case management software systems enable parties involved in the case to upload and retrieve data from a single source, thereby optimizing its performance.
The global legal case management software market is majorly driven by the rising government initiatives across regions to promote the adoption of technologically advanced solutions across all industries, including the legal sector. Additionally, the integration of technologies such as artificial intelligence and virtual assistance with the case management solutions is among the factors fuelling the growth of the market over the years. Moreover, the rising trend of going paperless across the legal sector is further influencing the adoption of digital solutions for case and practice management. However, the concerns related to cybersecurity and data privacy are restricting it’s their adoption among law firms.
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