Legal Case Management Software Market is expected to reach US$ 1911.24 million by 2028

Published Date: 30 Apr 2021

Report : Legal Case Management Software Market 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

Commercialization of 5G Technology Provides Growth Opportunities for Legal Case Management Software Market Players

 

According to our latest market study on “Legal Case Management Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment and End-user,” the market was valued at US$ 776.14 million in 2020 and is projected to reach US$ 1,911.24 million by 2028; it is expected to grow at a CAGR of 12.4% from 2021 to 2028.

 

5G is a fifth-generation cellular technology that operates at a higher frequency than its predecessors to provide the fastest download speed, with the help of radio waves. Owing to the speed of 5G, it is considered as a viable alternative to cable and satellite internet. 5G is expected to have a positive impact on the legal industry and would play a significant role in the decision-making process of the law firms. For instance, during the discovery stage of a lawsuit, part of a lawyer's job is to access troves of data from clients, and the amount of data lawyers can review at client’s location is always restricted by how efficient their technology is. In the law firms, some of the work is done in the field, where the issue of performing discovery and due diligence occurs on the move. The 5G-enabled devices with fast download speed would allow lawyers to be more mobile, allowing them to conduct investigative tasks at a client's place. Similarly, the advent or the commercialization of the 5G technology is expected to influence the growth of in-house legal counsel. For instance, according to Pennsylvania bankruptcy attorney, in-house counsel would be able to analyze their own data more efficiently. Thus, 5G can reduce the rate at which data projects are outsourced to law firms. Thus, the abovementioned factors are expected to contribute to the growth of the legal case management software market during the forecast period.


North America held the largest share of the legal case management software market in 2020, followed by Europe and Asia Pacific, respectively. Further, the market in Asia Pacific is projected to witness the highest CGAR during the forecast period. The legal case management software market is segmented on the basis of deployment, end-user, and geography. Based on deployment, the market is further 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 enterprise and large enterprise. In 2020, the small & medium enterprise segment accounted for a substantial share of the market.

 

Impact of COVID-19 Pandemic on North America Legal Case Management Software Market

North American countries are known for the highest acceptance for technologies, which boosts the pace of development of new technologies in these countries. Rapid technological developments can be attributed to favorable government policies to boost innovation and reinforce infrastructure capabilities. Thus, any impact on industries directly affects the region's economic progress. The US is the world's worst-affected country by the COVID-19 outbreak. The pandemic has had a negative impact on the legal procedures in the region. With no immediate solution in sight to the economic recession, law firms in the US are facing immense challenges. Although most of industries, including restaurants, entertainment, and travel, have been ravaged, law firms around the country are 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 North America 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 North America legal case management software market growth.

 

App4Legal; Beveron Technologies; Legal Files Software, Inc.; Legal Suite; Legal Track; Lex Mantra (Agranika Techlabs LLP); ProInd; Themis Solutions Inc. (Clio); Thomson Reuters Corporation; MyCase are among the few major companies operating in the legal case management software market.

 

Legal Case Management Software Market — by Geography, 2020

Legal Case Management Software Market — by Geography, 2020

 

The report segments the global legal case management software market as follows:

 

By Deployment

  • Cloud
  • On-Premise

 

By End-User

  • Small & Medium Enterprise
  • Large Enterprise

 

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of SAM
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