Presently technological revolutions are continuously minimizing paper work in legal proceedings with gradual shift towards non-paper mode and increase in digitalization. Rise in digitization is leading to court reporting services to shift from traditional reporting system to remote reporting system, where lawyers and their clients can attend deposition remotely. It is observed that governments in various countries are increasing their investment towards paperless module in court proceedings. Globally, governments are continuously trying to expedite court hearing process along with quick judgments in least possible time. To quote the instance, in India, Delhi High Court has archived all files into electronic format and became country’s first ever paperless court to facilitate speedy delivery of justice.
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Another factor which is fueling the growth of court reporting service market is modernization of court structure and adopting modern software technologies for legal proceedings. Real-time transcription services are helping the attorneys, to instantly read, search and annotate a testimony along with a facility to leave deposition with a copy of the transcript. The services also arrange a transcript copy for the future references. The technology enables transcript documents to save in large file formats, including PDF, ASC, PTX, LEF, XMEF among others. The internet deposition facility provides a greater flexibility in hearing process, where the attorney and client can attend a court hearing session through the secured virtual space, no matter of their physical presence. Presently, courts are also promoting the video recording practices during the deposition in order to bring more clarity in the entire hearing process. Modern software technologies provide data security facilities where unauthorized persons are restricted to access the database, however authorized persons can access these details at any time and from any location.
In terms of revenue, the global court reporting service market stood at US$ 4,439.8 Mn. in 2018 and is anticipated to reach US$ 6,529.4 Mn. by 2027. The market is expected to grow at a CAGR of 4.5% during the forecast period.
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The detailed research study provides qualitative and quantitative analysis of the global court reporting service market. The court reporting service market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across the globe. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The global court reporting service market is expected to grow at a CAGR of 4.5% during the forecast period, owing to adoption of modern softwares for legal proceedings
- An increasing number of disputes and fraudulence activity across the globe is fuelling the volume of court cases, which is giving an opportunity to the market to increase its total market share.
- Based on the global court reporting service market, the North America holds the major revenue among all other regions and the European region is anticipated to grow at highest compounding rate of interest by end of the forecasted period
- Some of the prominent players operating in the court reporting service market includes Barkley Court Reporters, Elite Court Reporting, Esquire Deposition Solutions, LLC., Huseby Incorporated, Veritext, and A&A Court Reporting amongst others
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Global Court Reporting Service Market
- By Application
- Online Deposition
- Offline Deposition
- By End Users
- Large Enterprises
- Small and Medium Sized Enterprises
- By Region:
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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