The legal and regulatory solutions market declined by 5% to $22 billion in 2015. Those pointing fingers are directing them at the impact of currency conversion. Three of the four largest information providers, RELX, Wolters Kluwer, and Editions Lefebvre-Sarrut reported either in pound sterling or euro currencies in 2015, which was a turbulent year for European currencies.
What’s ahead for this market? Legal & Regulatory Solutions 2016 report provides a detailed analysis of the market trends and forecasts segment growth and performance to 2019 in each of the major categories. The report also highlights key disruptors, including Abacus Data Systems, Avvo, Co/Counsel, eBrevia, Kira Systems, Mitratech, Modria, Neota Logic, Ravel Law, and ROSS Intelligence.
The report discusses the effect of key market dynamics and trends, including:
- The impact of Brexit
- Artificial intelligence moving mainstream in the legal services market
- Ongoing reforms to legal profession in developing countries
Although the impact of currency fluctuations has decreased the market growth figures for 2015, Outsell forecasts growth of over $25 billion by 2019 overall in the global legal and regulatory solutions market. For firms operating in the space and investors seeking growth opportunities, this report is a must-read.
We base the information in this report on a comprehensive and rigorous methodology Outsell developed. This methodology provides financial estimates for the overall market, for appropriate markets within the overall segment, and for specific companies in the ecosystem. Revenue is analyzed several different ways, including both retrospectively in terms of historical trends and prospectively via Outsell’s market forecast. We provide growth rates, market share, and, where possible, geographic, revenue source, and format (print versus digital) splits for leading companies within the space. Outsell methodology starts with its database of over 8,000 global media and information companies worldwide. These firms are assigned to all appropriate segments in which they operate.
Outsell uses all publicly available information and its own insight and research with the companies themselves to size each player in the space. We size public companies primarily on their reported results, though we also apply Outsell analysis to further segment and align their revenues according to Outsell’s industry segmentation. We size private companies using the best available information on each company, augmented by our own primary research.
For each market segment, we identify the top 10 largest players in the space (by revenue) in a table. Those companies that derive revenue from multiple segments have their revenue allocated by segment. Only the portion of a provider’s total revenue that is attributed to the subject segment is identified under that company for that segment. The sum of the various segment revenues for a provider equals the company’s total reported/estimated information industry revenue.
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