U.S., the UK and Australia Legal Calendaring and Docketing Software Market is Estimated to Grow at a CAGR of 10.2% Over the Forecast Period Owing to Growing Digitalization in the Legal Sector, Says Absolute Markets Insights

PUNE, India, Jan. 27, 2020 /PRNewswire/ -- The legal calendaring and docketing software market is expected to gain significant growth with the evolution of digital technologies in the legal sector. These technologies are empowering the services of law firms by providing real time updates, and generating automatic reminders. Moreover, legal calendaring and docketing software functions like a virtual assistant, reminding the firm at regular intervals about the upcoming deadlines while tracking payments and other actionable items. Individual law practitioners and enterprises are increasingly opting for effective calendaring and docketing system, which can reduce the spending and labor required to manually process and maintain legal cases. For instance, Themis Solutions Inc. (Clio), designs and develops legal calendaring and docketing software for legal practice management along with CRM software, offering functionalities for calendaring, time tracking, note-taking, document management, trust accounting, managing retainers, billing, workflow automation, and data insights. This increases the productivity and ensures efficiency in the operations of law firms, thus driving the demand for legal calendaring and docketing software market.

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The legal calendaring and docketing software is being largely adopted by small and medium law firms, which is further pushing the software developers to offer advanced calendaring and docketing tools catering to their specific requirements. With the emergence of information and communication technology, companies in the legal industry are rapidly moving towards the process of digitalization. The rising competition and new regulatory rules are coercing organizations to digitalize their processes and management. The law firms are increasingly digitizing and adopting these developments to upgrade their infrastructure to reduce risk and improve internal productivity, by applying machine learning and artificial intelligence (AI). AI and machine learning technologies enable the law firms to identify previously unknown correlations among data, providing them with enhanced capacity to predict outcomes, optimize delivery, mitigate risk, and tailor solutions to consumer demands and expectations. For instance, in August 2019, American LegalNet, a litigation workflow management technology provider, partnered with Zero, that offers artificial intelligence email management technology to legal industries. The integration of Zero artificial intelligence capabilities with ALN's calendaring and docketing platform eDockets and AutoDocket ProTM feature helps to reduce the risks associated with the traditional time-consuming task of manual sorting and filing large volumes of information. Hence, the prevalent digital transformation in the legal industry is anticipated to further propel the growth of legal calendaring and docketing software market.

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The detailed research study provides qualitative and quantitative analysis of legal calendaring and docketing software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional presence and strategies. The geographical analysis done emphasizes on each of the major countries across U.S., the UK and Australia.

Key Findings of the Report:

• In terms of revenue, U.S., the UK and Australia legal calendaring and docketing software market is expected to reach US$ 497.2 Mn by 2027 owing to growing digitalization in the legal industry.
• On the basis of enterprise size, small and medium enterprise segment is expected to witness highest CAGR over the forecast period owing to increasing adoption of cloud-based solutions across SME's.
• On the basis of component, solutions segment is projected to hold the largest market size, followed by services during the forecast period.
• Some of the players operating in the legal calendaring and docketing software market AbacusNext, Actionstep, CASEpeer, Needles Case Management Software, PracticePanther, SmartAdvocate, Smokeball, Inc, Themis Solutions Inc amongst others. 

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U.S., the UK and Australia Legal Calendaring and Docketing Software Market:

• By Component
• Solutions
• Cloud Based
• On-Premise
• Services
• By End-users
• Individual Law Practitioners
• Enterprise
• Small and Medium Enterprise
• Large Enterprises
• By Application
• Civil Litigation Law
• Criminal Law
• Family Law
• Labor Law
• Health law
• Intellectual Property Law
• Immigration Law
• Real Estate Law
• Tax Law
• Others
• By Country
• U.S
• The UK
• Australia

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SOURCE Absolute Markets Insights