Future Market Insights has announced the addition of the “Legal Transcription Market: Global Industry Analysis and Opportunity Assessment, 2018-2028" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 08/17/2018 -- Global Legal Transcription Market: Overview
From the past few decades, technological evolutions are increasingly contributing to different industry verticals, and law firms are one of them. With the constant increase in crime scenes, the need for more advanced, fast, and secure ways of courtroom data recording is increasing rapidly. The interest of law firms has grown regarding the conversion of traditional courtrooms into high-tech courtrooms. The increasing preference for automation in the jury process is one of the important reasons driving the demand for legal transcription services. The adoption of legal transcription solutions is expected to grow at a significant rate over the forecast period, due to the increasing preference for more secured and reliable operations.
Legal transcription is a process used for the transcription of legal reports which are important for consideration in various legal matters. Legal transcription aids in preparing legal documents from the dictated or written information of crime scenes. With increasing competition among law firms in order to retain clients, organizations/firms are focusing on spending more time with clients than on paperwork and documentation processes. This trend is expected to be one of the major factors fueling the demand for legal transcription management in the industry.
Global Legal Transcription Market: Drivers and Restraints
One of the major factors driving the market for legal transcription software as well as services is the recent boom in legal practice and different types of law firms. Rising crime scenes on a global level are making it crucial to have quick and proficient legal transcription services available on a real-time basis. In addition to this, the availability of different options such as interrogations, on-time transcription of data, phone calls, training sessions, announcements, and others for legal transcription users is also an important factor driving the growth of the legal transcription management solutions market. The demand for legal transcription solutions is expected to increase over the forecast period, due to their ability of formatting, reviewing, legal transcribing, and proofreading, which can be performed for different types of legal actions. On the other hand, the lack of awareness and less adoption rate in developing countries is one of the major challenges for the growth of the legal transcription market.
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Global Legal Transcription Market: Segmentation
The global legal transcription market is segmented on the basis of end user, deployment, and region.
Segmentation Based on End User:
Legal transcription solutions are available for different types of end users. The segmentation on the basis of end users includes law agencies/firms, legal attorneys, legal prosecutors, legal court reporters, insurance investigators, and others.
Segmentation Based on Deployment:
Legal transcription solutions are available based on two types of deployment models. The segmentation is performed on the basis of deployment as on-premise and cloud-based.
Segmentation Based on Region:
On the basis of region, the global legal transcription market is segmented into North America, Latin America, Western Europe, Eastern Europe, the South East Asia and Others of Asia Pacific, Japan, China, and Middle East & Africa.
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Global Legal Transcription Market: Key Players
Examples of some of the key players in the global legal transcription market include Voxtab, Focus Forward, Indoswift, Winscribe, Flatworld Solutions, NCH Software, Tech-Synergy, Voice Products Inc., and others. Legal transcription solution vendors are continuously focusing on product innovations to sustain in the increasing global competition, and are also focusing on delivering outstanding services to the end users.