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 $8.0 billion by 2030 from $1.9 billion in 2024,at a CAGR of 27.0% 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 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.
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North America is expected to witness highest growth over the forecast period due to favorable government initiatives and investments in AI technology.
LexMachina, 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 [email protected]To get access of more than 1000 reports at fraction of cost visit Lucintel'sAnalytics Dashboard.
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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: [email protected]
Tel. +1-972-636-5056
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