David Curle, Director & Lead Analyst, Outsell Inc. comments: “There are plenty of signs that the legal services industry is in trouble, but legal, tax, and regulatory information providers will continue to post steady growth rates that will exceed those of the rest of the information industry.”
Outsell’s recently-published Legal, Tax & Regulatory Information: 2008 Market Forecast and Trends Report forecasts the segment will grow from $13.9 billion to $18.1 billion by 2011 with a 6.8% compound annual growth rate (CAGR) from 2008-2011. Segment growth in 2008 and 2009 is expected to be held back a bit by the overall economic slowdown, with growth of 6.5% in each of those years.
Economic recovery and continued investments in new products and markets will bring growth rates up to 7.0% in 1010 and 7.1% in 2011
Credit & Financial information is the fourth largest segment (10.6% of total) and keeps growing by 8.5%. Whether this growth is sustainable may be questionable given the negative growth figures in credit rating and consumer credit information services. Source: Outsell Inc. www.outsellinc.com
BIIA Newsletter November 2008 Issue