Emergen Research has just released a report attempting to size the Legal ODR market.
From their press release:
” The global legal Online Dispute Resolution (ODR) market size was USD 57.3 million in 2020, and is expected to reach USD 210.53 million 2028, and register a revenue CAGR of 17.5% during the forecast period, according to the latest report by Emergen Research. The arbitration segment accounted for largest share in the legal ODR market… The study offers comprehensive coverage of the qualitative and quantitative analysis of the Legal Online Dispute Resolution (ODR) market along with crucial statistical data about the Legal Online Dispute Resolution (ODR) market…
A primary factor driving market revenue growth is the rapid surge in number of individuals and parties, civilian, and commercial entities, and others, opting to resolve legal or judicial disputes virtually or across distances, and without any contact or physical appearance in a courtroom or at in the presence of judicial bodies… Increasing number of legal cases and disputes arising from e-Commerce sector are some key factors driving steady revenue growth of the global legal ODR market. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.”
You can read more here.