Facts and Factors Market Research has published a new report titled “U.S. Legal Publishing Market By Publishing Activity (Print Media and Electronic Media), By Deployment Type (Cloud and On-Premises), By Software (Word Processing Software, Page Layout Software, Electronic/Web Publishing Software, and Graphics Software), and By Application (Industrial and Commercial): Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027”.
According to the report, the demand for U.S. legal publishing market was valued at approximately USD 205 million in 2018 and is expected to reach a value of around USD 286 million by 2027, at a CAGR of around 3.9% between 2019 and 2027.
Publishing, in general, is distributing or making public any kind of literary or visual work. The word “author” commonly means writers or journalists, but in the publishing industry, it also includes video artists, filmmakers, photographers, etc. Publishers are organizations that make various kinds of literary work available to the public. The body of law that manages the publication of magazines, books, electronic materials, and newspapers, among other artistic works constitutes legal publishing. It also includes disparate legal areas like torts, intellectual property, the First Amendment, and contracts. Legal publishing is not a separate topic under the body of law with its own set of laws. The majority of the legal publishing houses have a lawyer, mostly in-house, to review and foresee a publishable piece of content along with identifying its potential pitfalls from a legal perspective.
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Repeated updates of published content majorly driving the U.S. legal publishing market
Back in the days, it was sufficient to publish about major events on a regular basis, such as quarterly, monthly, or weekly in magazines, and daily or weekly sections in newspapers. In today’s time, the global population gets notified of all major happenings around the world, be it big or small, from social media. They even expect that these social media updates are on a real-time basis, i.e., as and when they unfold. Thus, to compete with real-time information distribution of various social media platforms, news portals have started delivering content via their own social media channels and support it with an in-depth analysis on their news websites and more conventional mediums. Thus, this is majorly driving U.S. legal publishing market, as these updates need to adhere to specific laws.
In addition, the U.S. legal publishing market is also fuelled by various market-relevant activities, such as mergers and acquisitions. For instance, Bloomsbury Press acquired RELX law assets in 2015, which included 6 Family Law titles held by the latter company along with Jordan Law publishing.
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Electronic media is projected to dominate the publishing activity segment
With the growing use of smartphones and other mobile devices, people can follow all the minute details of a major global event via high-speed internet connectivity of their devices. This is driving the electronic media segment in the U.S. legal publishing market.
Electric/web publishing is likely to be the largest market segment
The electric/web publishing segment is likely to hold the largest share of the U.S. legal publishing market in the years ahead. In 2018, this segment held 36.6% of the total market share globally. Increasing the use of electric/web publishing software for circulating various updates among the population has increased its demand.
Key players operating in the U.S. legal publishing market are Verlag C.H.BECK, Oxford University Press, Wolters Kluwer, Thomson Reuters, The Bureau of National Affairs, STATS LLC, John Wiley & Sons, Informa PLC, ZTC, Haufe-Lexware, TruMedia Networks, LexisNexis, Tableau Software, Editions Lefebvre Sarrut, Law Bulletin Media, and Synergy Legal.
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This report segments the U.S. legal publishing market as follows:
U.S. Legal Publishing Market: By Publishing Activity Analysis
- Print Media
- Legal Directories
- Electronic Media
- Tools and Solutions
U.S. Legal Publishing Market: By Deployment Type Analysis
U.S. Legal Publishing Market: By Software Analysis
- Word Processing Software
- Page Layout Software
- Graphics Software
- Electronic/Web Publishing Software
U.S. Legal Publishing Market: By Application Analysis
U.S. Legal Publishing Market: By State Analysis
- New York
- Rest of the U.S.
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