According to a market report by Lucintel, the future of the global legaltech artificial intelligence market looks promising with opportunities in the document management system, ediscovery, practice and case management, and e-billing markets. The global legaltech artificial intelligence market is expected to reach an estimated $8 billion by 2030 from $2 billion in 2024, at a CAGR of 27% from 2024 to 2030. The major drivers for this market are rising adoption of cloud-based technology and increasing demand for automation process.
A more
than 150-page report to understand trends, opportunity and forecast in global
legaltech artificial intelligence market to 2030 by component (software and
services), end use industry (law firms, corporations, and legal service
providers), application (document management system, ediscovery, practice and
case management, e-billing, and others), and region (North America, Europe,
Asia Pacific, and the Rest of the World).
Lucintel
forecasts that law firms is expected to witness highest growth over the
forecast period due to improve efficiency, reduce costs, and enhance the
quality of legal services.
Within
this market, document will remain the largest segment due to automate mundane
legal processes such as reviewing documents, and contracts to further identify
critical clauses.
Download
sample by clicking on legaltech
artificial intelligence market.
North
America is expected to witness highest growth over the forecast period due to
favorable government initiatives and investments in AI technology.
Lex
Machina, Casetext, ROSS Intelligence, Lawgeex, Fiscalnote, IBM Corporation,
Opentext, Luminance, Litera, Donnelley Financial Solutions are the major
suppliers in the legaltech
artificial intelligence market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost
visit Lucintel's Analytics
Dashboard.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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