By 2009, the market for legal, tax and regulatory information will grow to $18.3 billion, according to Outsell Inc.
The research and advisory firm’s first annual MarketView report for the segment takes a look at the market in 2006 and provides a forecast for the future. Outsell estimates that the segment will achieve an annual growth rate of 6.5 percent from 2006 through 2009, to reach the $18.3 billion figure.
The "Big Three" -- Thomson Legal & Regulatory, Wolters Kluwer and LexisNexis (Reed Elsevier) -- continue to dominate the segment with a combined market share of nearly 60 percent. Rounding out the top 10 of providers is the Bureau of National Affairs, Shin-Nippon Hoki Shuppan KK, U.S. Investigations Services, American Bar Association, ALM Properties, MacDonald, Dettwiler and Associates Ltd. and Informa PLC.
Also in the report:
- Outsell predicts that the Big Three will keep expanding by acquiring more companies in the legal technology space and engaging in joint ventures with publishers in Europe and Asia;
- LocatePLUS and AlexInformation are singled out for their extraordinary growth, the former operates in the public records space, while the latter provides educational texts to the regulatory compliance and financial sectors;
- Low-end legal research services will enjoy plenty of room for new growth; and,
Companies such as FindLaw (Thomson), Casemaker, Legal Week Global Media and ALM Properties are touted for having exceptional innovation, agility and market focus.
Information on purchasing the full report is available at www.outsellinc.com/store/products/295.
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