Today Feit Consulting is releasing a new report on the state of market for major legal vendors: Thomson Reuters. LexisNexis, Bloomberg Law and Wolters Kluwer. I hesitate to even refer to the market as the legal research market because that completely ignores the dramatic integration of workflow, drafting, brief analysis and analytics into the 21st century progeny of the foundational case law research systems.The 2020 Legal Information Vendor Market Survey was conducted between June and August 2020 and is targeted at law firms with 50+ attorneys. There were 104 responses: 26%(<100 attorneys), 56% (100-499 attorneys) and 20% >500 attorneys.The The report provides context by comparing results to the 2018 survey results. These results will be include in an upcoming book Optimizing Legal Information Pricing which will be published this fall.
- Trends in selecting a sole provider for research
- Bloomberg and Wolters Kluwer market penetration
- Westlaw Edge adoption
- CALR cost recovery trends
- Small vendor adoption
- Impact of COVID on print budgets.