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Legal Billing Software Market Size is Projected to Reach USD 5.16 Billion by 2030, Growing at a CAGR of 22.59%: Zion Market Research

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NEW YORK, United States, May 26, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Legal Billing Software Market By Application (Lawyers, Law Firms, Individual Law Professionals, Attorneys, And Others), By Deployment Type (Web-Based And Cloud-Based), And By Region: – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030” in its research database.

How big is the Legal Billing Software Industry?

“According to the latest research study, the demand of global Legal Billing Software Market size & share in terms of revenue was valued at USD 1.56 billion in 2022 and it is expected to surpass around USD 5.16 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 22.59% during the forecast period 2023 to 2030.”

The legal billing software market report offers detailed analytical insights into the top companies in the global marketplace. The report is a mix of both deep primary and secondary research dedicated to discovering the upcoming market trends, growth restraining factors, and opportunities. The legal billing software industry report include the latest tech developments, innovations, product launches, and more exhaustive information on market diversification.

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What is Legal Billing Software?

A type of law office administration software called legal billing software aids in time and expense management, particularly when it comes to legal concerns. Compared to other small businesses, legal billing is very complicated. With the use of code for certain activities like contract drafting, witness interviews, reviewing, and research, among others, it organises the attorney’s actions into numerous master files. It assists lawyers in accurately invoicing clients for the amount of time spent on each case.

These assist users in printing invoices and expenses related to their services. The programme increases efficiency because it enables lawyers to focus solely on tasks related to client work, freeing them from tedious administrative procedures like document processing. Such software aids in accomplishing organisational goals and assists risk management.

Global Legal Billing Software Market: Growth Factors

  • Cost saving and better performance features by this software are likely to propel the growth of the global market

Typically, legal billing is outsourced to save time on unimportant chores. Legal billing software’s primary goals are to reduce expenses and improve internal performance. But as a result, there was an increase in demand for software that facilitates accounting invoicing, time tracking, etc. The focus of software developers is currently on providing easily operative billing software and services that increase productivity. The rapid adoption of app-based software for mobile users, however, is more likely to fuel the expansion of the market for legal billing software globally.

Global Legal Billing Software Market: Restraints

  • High prices might hinder the expansion of the global market

The cost of the legal billing software is a major barrier to the industry’s expansion on a global scale. Vendors are under increasing pressure to lower the overall cost of the software, though. The cost of this legal billing software is rising due to its increasing complexity. Additionally, the cost will rise due to the increased requirement for integrating security solutions for cyber threats. Consequently, such a scenario is anticipated to impede the expansion of the global market for legal billing software.

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Report Scope:

Report Attribute Report Details
Market Size in 2022 USD 1.56 Billion
Market Forecast in 2030 USD 5.16 Billion
Growth Rate CAGR of 22.59%
Base Year 2022
Forecast Years 2023- 2030
Key Companies Covered AppColl, CosmoLex, Intapp Time, Aderant, Sage, Acuity ELM, Juris, Rocket Matter, TimeSolv, PracticePanther, Smokeball, MyCase, Zola Suite, Clio, PerfectLaw, Tikit Coyote Analytics, SimpleLegal, Intapp Time, FreshBooks, and others.
Segments Covered By Application, By Deployment Type, and By Region
Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Legal Billing Software Market: Segmentation Analysis

The global legal billing software market can be segmented into application, deployment type, and region.

By application, the market can be segmented into lawyers, law firms, individual law professionals, attorneys, and others. Due to the rising need for billing software in law firms, the law firm segment dominates the global legal billing software market. These are frequently used by businesses that offer legal services. By using this software, professionals may focus more on their core competencies and spend less time on administrative duties. Additionally, there is a significant market for specialized legal billing software created just for a single devoted service.

By deployment type, the market can be segmented into web-based and cloud-based. Due of its simplicity, cloud-based legal billing software dominates the market. Cloud-based software saves and manages data online. Since this software doesn’t require hardware, it lowers costs. It merely needs an internet connection. With an internet connection and user credentials, users can access the software worldwide. Visualization technologies assist allocate IT resources in cloud computing. Due to its popularity, the web-based segment may increase significantly during the projected period. Web tech stores and runs data and services in these applications. Chrome, Firefox, etc. utilize this software. They are built using general programming languages like PHP.

The global Legal Billing Software market is segmented as follows:

By Application

  • Lawyers
  • Law Firms
  • Individual Law Professionals
  • Attorneys
  • Others

By Deployment Type

  • Web-Based
  • Cloud-Based

Browse this Full Research Report | Legal Billing Software Market By Application (Lawyers, Law Firms, Individual Law Professionals, Attorneys, And Others), By Deployment Type (Web-Based And Cloud-Based), And By Region: – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030

Competitive Landscape:

Some of the main competitors dominating the global Legal Billing Software market include – 

  • AppColl
  • CosmoLex
  • Intapp Time
  • Aderant
  • Sage
  • Acuity ELM
  • Juris
  • Rocket Matter
  • TimeSolv
  • PracticePanther
  • Smokeball
  • MyCase
  • Zola Suite
  • Clio
  • PerfectLaw
  • Tikit Coyote Analytics
  • SimpleLegal
  • Intapp Time
  • FreshBooks

 Key Insights from Primary Research:

  • According to the analysis shared by our research analyst, the legal billing software market is likely to expand at a CAGR of around 22.59% during the forecast period (2023-2030).
  • In terms of revenue, the legal billing software market size was valued at around US$ 1.56 billion in 2022 and is projected to reach US$ 5.16 billion by 2030.
  • The growing need for waste control is likely to boost the global legal billing software market size growth.
  • Based on the application, the law firm segment dominates the global market.
  • Based on the deployment type, the cloud-based segment accounts for the largest share of the global market.
  • Based on region, North America is expected to dominate the market during the forecast period.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/legal-billing-software-market-size

Key questions answered in this report:

  • What is the market size and growth rate forecast for Legal Billing Software industry?
  • What are the main driving factors propelling the Legal Billing Software Market forward?
  • What are the leading companies in the Legal Billing Software Industry?
  • What segments does the Legal Billing Software Market cover?
  • How can I receive a free copy of the Legal Billing Software Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2023−2030
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Application, By Deployment Type, and By Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request For Customization on This Report as Per Your Requirements – https://www.zionmarketresearch.com/custom/7199

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

  • North America dominates the global market

North America dominates the legal billing software market. Due to a robust legal services sector, the US leads the market with 50% of revenue. Canada is the second-largest market with growth potential. The regional market’s global growth is due to a huge number of lawyers and attorneys. In the coming years, machine learning and artificial intelligence will change the market.

Asia Pacific is another leading legal billing software industry due to its increasing economy and rising standards. Also, more people are using scrutinization and legal services.

Due to strong market players and well-established clientele, Europe is predicted to grow the worldwide market. In the future years, tech sector will boost regional market growth.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

To Know an Additional Revised List of Market Players, Request Free Brochure: https://www.zionmarketresearch.com/requestbrochure/legal-billing-software-market-size

Recent Developments:

  • LawPay on 27 February revealed the launch of a new legal billing software solution called LawLay Pro to bridge the gap between legal practice management and payments for lawyers required to expand the number of their profits.
  • Clio Cloud Conference, at the ninth annual in October 2021, introduced a new Clio Payments platform. The platform is built for the industry’s most advanced legal tech solution.

Browse Other Related Research Reports from Zion Market Research:

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:

Rushikesh Dorge

Zion Market Research

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Artificial Intelligence

Greater efforts urged on sci-tech cooperation

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BEIJING, April 26, 2024 /PRNewswire/ — A news report from China Daily:

Greater efforts are needed to strengthen international cooperation in science and technology, explore ways of jointly solving important global issues through technological innovation, and develop new quality productive forces, said officials, experts and company executives on Thursday in Beijing.
Addressing the opening ceremony of the 2024 Zhongguancun Forum, Vice-Premier Ding Xue­xiang said China is willing to work with the international community to practice the concept of open, fair, just and nondiscriminatory international sci-tech cooperation, and to jointly build a global sci-tech community.
The country will explore a new model regarding mutually beneficial global cooperation in sci-tech innovation, and will break down barriers restricting the flow of knowledge, technology, talent and other innovative factors, to jointly create an open innovation ecosystem.
Yin Li, secretary of the Communist Party of China Beijing Municipal Committee, said the capital will ramp up efforts to improve its innovation capacities, accelerate the building of world-leading science and technology parks, increase investment in basic research and make breakthroughs in core technologies in key fields.
Data from the Ministry of Science and Technology showed that China’s research and development investment exceeded 3.3 trillion yuan ($455.4 billion) in 2023, up 8.1 percent year-on-year, and the spending on fundamental research reached 221.2 billion yuan, an increase of 9.3 percent over the previous year.
China’s strength in scientific and technological innovation has taken a major leap in recent years. Marco Aleman, assistant director-general of the World Intellectual Property Organization, said China is a powerhouse of innovation that contributes to global growth and sustainable development.
According to WIPO, the country stands as a global innovation leader, ranking 12th in the Global Innovation Index 2023, and it owned 24 of the top 100 science and technology clusters globally by the end of last year, ranking first in the world for the first time.
Quarraisha Abdool Karim, president of the World Academy of Sciences, said ensuring a sustainable future through partnership and cooperation creates an opportunity for all participants to explore new pathways toward achieving the United Nations’ Sustainable Development Goals.
Lei Jun, founder and CEO of Chinese tech company Xiaomi Corp, said the company will continue to step up investment in R&D and strive for breakthroughs in core technologies.
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Artificial Intelligence

Web O.No: Metaverse and Web 3.0 stunted by internet chaos, warn 87% of business leaders

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Forrit report uncovers the internet is at breaking point, thanks to open source vulnerabilities, siloed web management systems, and poor website governance.
LONDON, April 26, 2024 /PRNewswire/ — A new study launched by Forrit, the next-generation, global content management system (CMS) provider, reveals that 89% of senior marketers and tech leaders are optimistic that Web 3.0 and the metaverse have the potential to revolutionise the way we interact with the web. However, the report, titled Web O.No: your business’ bleak online future and how to avoid it uncovered that 87% believe the current state of the internet will stunt these innovations – and none of the respondents have websites that are currently equipped for this transformative new internet era.

As we near the 31st anniversary of the World Wide Web’s entry into the public domain, UK business decision-makers unanimously agreed that “the Internet today is a mess,” citing security flaws, vulnerabilities with open source web management systems, ungoverned websites, and multiple layers of legacy CMS systems.
Despite the report focusing on heavily regulated industries, financial services, utilities, and the legal sector, over half of the respondents (57%) revealed they have website security flaws. They also admitted customers would lose trust if they were exposed. Security vulnerabilities were most prevalent among those who run their websites on open source solutions, rising to 79% in this group. Expert respondents underscored the specific risk of open source plug-ins. Created by multiple third-party developers, they leave websites open to malicious compromise.
Beyond cyber-attacks, the report highlights the heightened risk of outages, dysfunctional interfaces, and hazardous content hidden within neglected pages of reputable websites. The latter is a risk for those operating multiple website management (CMS) systems – a common practice among the participants. Shockingly 44% admitted they don’t have control of the website content as a direct result of this practice.
With the internet spiralling out of control, Forrit labels this chaotic online future Web O.No.
Peter Proud, CEO and Founder, Forrit, explains the role of composable CMS platforms in putting the brakes on this doomsday scenario, “Forget Web 3.0, we’re heading towards Web O.No – a grim reality of an internet unfit for purpose unless we act now. It’s time to stop layering on outdated, vulnerable web management systems, which exacerbate the problem. Embracing a next-generation composable web management platform would introduce a new era of security, flexibility, and scalability for the internet, empowering businesses to embrace the future.”
The respondents reinforced this sentiment, with 89% asserting that composable architecture would empower their organisation to future-proof their digital infrastructure. This includes granting them the flexibility to adopt AI into the website—a capability that is inhibited by their current web management system, according to 72% of respondents.
Gary Roberts, CRO, Forrit, underscores this significance: “Your website management platform (CMS) should be an enabler of digital innovation, not a barrier. Embracing composable web architecture removes the current barriers, providing a clear pathway to the future – whether that’s the metaverse, Web 3.0, or any other pioneering tech advancement as yet undiscovered.”
Click here to download Forrit’s report – Web O.No: your business’ bleak online future and how to avoid it.
About ForritUK-based, global content management system provider, Forrit, has been helping large businesses in highly-regulated industries keep their web estate secure, simple-to-scale and easy-to-manage, for the last 10 years.
Our mission? To allow IT and marketing to manage their digital estate in perfect harmony. Through Forrit’s intuitive UI, low code CMS and content management configuration platform (Service Delivery Hub), the CMO and CTO can take joint control of their web estate.
An Azure-native solution, through which businesses can leverage any and all Azure Cloud Services, including AI-powered translation and automated migration, Forrit CMS is future proof and can be scaled or de-scaled as needed.
Sound technical? Not at all. Forrit’s platform requires no prior Azure knowledge or technical expertise to get everything needed from it. The plus to this, the strain is taken off the IT team, and the marketing team can create unrivalled digital experiences and manage content with ease.
With enterprise-grade security to top it off, Forrit’s cloud-native CMS helps businesses simplify their workflows, streamline their marketing efforts and scale at speed, securely.
About the researchCensuswide conducted the research with 505 UK IT and marketing decision-makers between 01.03.24 and 12.03.24. Censuswide abides by and employs members of the Market Research Society, which is based on the ESOMAR principles, and is a member of The British Polling Council.
 
 

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Artificial Intelligence

Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch

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PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.

“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/identity-governance-administration
“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
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