Blairsville, United States, Mar 17, 2020, 05:58 /Comserve / -- global LegalTech Artificial Intelligence Market was valued at 3,245.95 Million in the year 2020 and is expected to grow with a CAGR of 37.7%.
Legaltech is use of technology and innovations to squeeze out the time from legal services. Legal Tech as organizations that provide software and tech-enabled services to the legal vertical (including law firms and internal counsel) as well as tech- enabled services distributed to businesses and consumers. Computer science used to create intelligent machines that function like human brain is called Artificial Intelligence. AI computers perform functions like human such as learning, decision making, planning, and due diligence.
This research report represents a 360-degree overview of the competitive landscape of the Global LegalTech Artificial Intelligence Market. Furthermore, it offers massive data relating to recent trends, technological advancements, tools, and methodologies. The research report analyzes the Global LegalTech Artificial Intelligence Market in a detailed and concise manner for better insights into the businesses.
In terms of revenue, global LegalTech Artificial Intelligence Market was valued at 3,245.95 Million in the year 2019 and is expected to grow with a CAGR of 37.7% over the forecast period owing to the transformation of traditional to digital law practices.
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This market research report on analyzes the growth prospects for the key vendors operating in this market space including Blue J Legal, Casetext Inc., Impetus Repository Systems, eBREVIA, Everlaw, FiscalNote, Judicata, Justia, Knomos Knowledge Management Inc., Lawgeex, Lawful Robot Inc., LEVERTON, LexMachina, Loom Analytics, Luminance Technologies Ltd., Ravel Law.
The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the LegalTech Artificial Intelligence market. Growth rates of all segments within the market have been determined on the global as well as a regional front. In the market overview section, the report presents a qualitative analysis of the overall market. In addition, the market according to country, end-user, and other criteria is also provided, allowing the reader to gauge the most promising or profitable areas for investments.
New vendors entering the marketplace are hard to compete with international vendors based on technology quality, reliability and innovation. The main areas covered by the report are the United States, Europe, China, Japan, Southeast Asia, India and Central and South America.
Global LegalTech Artificial Intelligence Market:
By Application
Document Management System
e-Discovery
Practice and Case Management
e-Billing
Contract Management
IP Management
Legal Research
Legal Analytics
Cybersecurity
Predictive Technology
Compliance
By End User
Lawyer
Civil Lawyer
Corporate Lawyer
Criminal Lawyer
Client
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Highlights of the Global LegalTech Artificial Intelligence Market:
1. What will the market size and the growth rate be in 2026?
2. What are the key factors driving the Global LegalTech Artificial Intelligence Market?
3. What are the key market trends impacting the growth of the market?
4. What are the challenges to market growth?
5. Who are the key vendors in the Global LegalTech Artificial Intelligence Market?
6. What are the market opportunities and threats faced by the vendors in this market?
7. Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
This report provides an effective business outlook, different case studies from various top-level industry experts, business owners, and policymakers have been included to get a clear vision about business methodologies to the readers. SWOT and Porter’s Five model have been used for analyzing the LegalTech Artificial Intelligence Market on the basis of strengths, challenges and global opportunities in front of the businesses.
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