Legal Practice Management Software Market to Record Growth worth $ 933.52 million growth in 2020-2024|17,000+ Technavio Reports

NEW YORK, Aug. 31, 2021 /PRNewswire/ — Technavio has been monitoring the legal practice management software market and it is…

NEW YORK, Aug. 31, 2021 /PRNewswire/ — Technavio has been monitoring the legal practice management software market and it is poised to grow by USD 933.52 million during 2020-2024, progressing at a CAGR of almost 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

COVID-19 Impact Analysis on Legal Practice Management Software Market can now be gained through our report.

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Impact of COVID-19

The COVID-19 impact report on the legal practice management software market offers pre as well as post-COVID 19 markets estimates. As the business impact of COVID-19 spreads, the Legal Practice Management Software Market 2020-2024 market is expected to have Positive & Superior growth.

Frequently Asked Questions:

  • Based on segmentation by Deployment, which is the leading segment in the market?

    The on-premise segment led the deployment segment and will continue its dominance in the market.
  • What are the major trends in the market? 

    The introduction of mobile legal practice management apps and the emergence of legal process outsourcing are the prominent market trends influencing the market to grow positively.
  • At what rate is the market projected to grow?

    Projected market growth is 10% for this market.
  • What is the key challenge?

    Threat from open-source legal practice management software is one key challenge likely to limit the market growth.
  •  How big is the North America market?

    31% of the growth will originate from North America.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The Access Group, Abacus Data Systems Inc., Actionstep, BHL Software Pty. Ltd., Intuit Inc., LawPro Legal Systems Ltd., Matrix Pointe Software, Mitratech Holdings Inc., Orion Law Management Systems Inc., and SurePoint Technologies are some of the major market participants.

In a bid to help players strengthen their market foothold, this legal practice management software market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies. 

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Legal Practice Management Software Market 2020-2024: Segmentation

Legal Practice Management Software Market is segmented as below:

  • Deployment
    • On-premise
    • Cloud-based
  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • MEA

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Legal Practice Management Software Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The legal practice management software market report covers the following areas:

  • Legal Practice Management Software Market Size
  • Legal Practice Management Software Market Trends
  • Legal Practice Management Software Market Industry Analysis

This study identifies the emergence of legal process outsourcing as one of the prime reasons driving the legal practice management software market growth during the next few years. However, high implementation and maintenance costs will impede market’s growth in the upcoming years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Legal Practice Management Software Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist legal practice management software market growth during the next five years
  • Estimation of the legal practice management software market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the legal practice management software market across North America, Europe, APAC, South America, and MEA
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of legal practice management software market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Deployment

  • Market segments
  • Comparison by Deployment
  • On-premise – Market size and forecast 2019-2024
  • Cloud-based – Market size and forecast 2019-2024
  • Market opportunity by Deployment

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor landscape
  • Landscape disruption
  • Industry risks

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • The Access Group
  • Abacus Data Systems Inc.
  • Actionstep
  • BHL Software Pty. Ltd.
  • Intuit Inc.
  • LawPro Legal Systems Ltd.
  • Matrix Pointe Software
  • Mitratech Holdings Inc.
  • Orion Law Management Systems Inc.
  • SurePoint Technologies

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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