Legal AI Software Market

Legal AI Software Market worth $1,236 million by 2024

The report "Legal AI Software Market by Component (Solutions and Services), Deployment Mode, Technology, End User (Corporate Legal Departments and Law Firms), Application (Legal Research, Contract Management, and eDiscovery), and Region - Global Forecast to 2024", is expected to grow from USD 317 million in 2019 to USD 1,236 million by 2024, at a Compound Annual Growth Rate (CAGR) of 31.3% during the forecast period. Major growth factors for the legal AI software market include an increasing demand for AI-powered customer support service and automation.

Browse 52 market data Tables and 42 Figures spread through 134 Pages and in-depth TOC on "Legal AI Software Market by Component (Solutions and Services), Deployment Mode, Technology, End User (Corporate Legal Departments and Law Firms), Application (Legal Research, Contract Management, and eDiscovery), and Region - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/legal-ai-software-market-88725278.html

Contract management application to grow at the highest CAGR during the forecast period

The legal AI market by applications covers eDiscovery, legal research, contract management, compliance, case prediction, and others (divorce automation, ebilling, knowledge management, and IP) segments. The contract management is expected to grow at the highest CAGR during the forecast period, owing to an increasing demand for AI-powered solutions to streamline the entire contract management process using legal AI software solutions.

ML and deep learning technology to hold the largest market size during the forecast period

The legal AI software market by technology has 2 segments: ML and deep learning, and NLP. The ML and deep learning segment is expected to account for the largest market size during the forecast period, due to an increasing demand for intelligently automating the legal processes by integrating it into the legal AI software.

North America to hold the largest market size during the forecast period

North America is expected to hold the the largest market size during the forecast period. In the region, the growth rate can be attributed to various factors including the adoption of advanced technologies, economic developments, increasing customer demand, and high investments by legal AI software solution providers. Driving forces in the region are large-scale investments, funding, and R&D activities in the marketspace. Major law firms and independent lawyers are adopting legal AI software solutions rapidly.

The legal AI software market report provides the competitive landscape and company profiles of the key vendors by their product offerings and business strategies. Major vendors in the global legal AI software market include IBM (US), OpenText (US), Thomson Reuters (US), Veritone (US), ROSS Intelligence (US), Luminance (US), LexisNexis (US), Neota Logic (US), Everlaw (US), Legalsifter (US), Pensieve (India), Cognitiv+ (UK), Casetext (US), Klarity (US), Omni Software Systems (US), Nalanda Technology (UK), LawGeex (Israel), Kira (US), and CaseMine (India).

Don’t miss out on business opportunities in Legal AI Software Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Legal AI Software Market Size,  Share & Growth Report
Report Code
TC 7076
PR Published ON
5/3/2019
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Legal AI Software Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home