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.