Technology-Driven Innovation Creates Momentum Shift for Global Legal Publishing Market
ROCKVILLE, Md., July 7, 2022 /PRNewswire/ -- After a period of low growth, weighed down by structural shifts in the print segment, the legal publishing market is on a path of renewal and long-term growth. The use of Artificial Intelligence, machine learning, and natural language processing is diffusing broadly throughout the category, applied in research, analytics, and many tools that take users higher up the value chain beyond basic content.
The new report chronicles the momentum shift in the market. Major competitors have a strong flow of innovation coming onto the market and in the pipeline. Many mid-size competitors are adapting to the market through increasing digitization of content. There is a flourishing ecosystem of smaller specialized competitors, developing opportunities in technology-driven niches as well as in traditional print products.
In-depth analysis of the market structure and leading competitors forms the foundation of the report: encompassing market performance, market strategies, acquisitions/disposals, and innovation activity. The reader will gain a deeper understanding of the largest competitors, the challengers and disruptors in the category, and important trends and dynamics in the market.
Simba's new report offers sizing of the market, its product formats and segments, geographic concentration, and leading competitors. The legal publishing market, composed of a mix of high-growth and declining categories, is measured by Simba at $12.5 billion as of 2021, up +1% over 2020. The report chronicles how the database format is evolving, increasingly employed as a platform that integrates a range of analytical tools and sources. The Thomson Reuters Westlaw platform leads the category in scale, generating $1.6 billion in 2021.
Elsewhere in the report, the reader will find insights about product customers, trends in product use and adoption, and challenges facing the legal industry. The report closes with Simba's near-term outlook for key competitors, and a forecast for the category, and product segments, over the 2022-2026 period.
Companies covered in the new report include Thomson Reuters, LexisNexis, Wolter Kluwer, Lefebvre Sarrut, Bloomberg Industry Group, C.H.Beck, Shin Nippon Hoki Shuppan, Haufe Group, ALM Global, Oxford University Press, Law Bulletin Media, Gyosei, Informa, Wiley, Fastcase, and several smaller but notable publishers.
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