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Report: $18.3B Revenue in '09 for Legal, Tax Info Oct. 16, 2006 (SmartPros) Legal, tax and regulatory information providers -- such as LexisNexis and Wolters Kluwer -- will achieve a combined $18.3 billion in revenues by 2009, which is a 6.5 percent growth rate from 2006, according to a report by research and advisory firm Outsell Inc. Legal, Tax & Regulatory: 2006 Market Size, Share, Forecast and Trend Report covers organizations that provide information on administrative decisions, case law, law review articles, policies, public records, regulations, risk management, statutes, taxation and tax compliance, and trademark registration. According to the report, the "Big Three" -- Thomson Legal & Regulatory, Wolters Kluwer, and LexisNexis (Reed Elsevier) -- dominate this segment with a combined market share of 59.1 percent. Others in the top 10 include the Bureau of National Affairs, Shin-Nippon Hoki Shuppan KK, US Investigations Services, American Bar Association, ALM Properties, MacDonald, Dettwiler and Associates Ltd., and Informa plc. Outsell is predicting that the Big Three will keep expanding by acquiring more companies in the legal technology space. In addition, the LTR segment will experience more international acquisitions and joint ventures as publishers seek stronger footholds in Europe and Asia. Low-end legal research services will enjoy plenty of room for new growth. They can be agile and nimble as they increase their share of the small-firm and solo-practitioner markets by providing economy of price and time. The easier it is for this class of researchers to get in and out with the reliable information they need, the better, according to the report. |
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