Legal Online Dispute Resolution (ODR) Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2028
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. 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. In addition, savings on fees, court visits, and time needed to be spent in court are some other key factors driving market revenue growth. Due to movement restrictions and lockdowns due to the current COVID-19 pandemic, the growth of the Legal Online Dispute Resolution (ODR) industry is expected to be negatively affected. In addition to the impact of the COVID-19 pandemic on numerous global markets, th...