Global Legal AI Software Market Size is estimated to expand rapidly in coming years, at a CAGR of 28.9 % from 2018 to 2025. In 2017, the global market valuation was USD 0.28 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. Major market transcription factors include increasing the implementation of AI-based alternatives to handle the entire legal process effectively. Increasing demand for technology in apps such as eDiscovery, contract management, enforcement, and case prediction is also anticipated to drive the market. North America is anticipated to hold the biggest market size on the worldwide legal AI software market.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global legal AI software market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global legal AI software market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Segment Analysis

By Component Type Insights: On the basis of component, global legal AI software market has been segmented into solution and services. Among which services segment is expected to be the highest growing segment in the global market of legal AI software. Training and consulting, system integration and testing, and support and maintenance services are the services provided in the legal AI software sector. The services play a crucial role in the operation of legal AI security solutions.

By Application Insights: On the basis of application, global legal AI software market has been segmented into legal research, contract management, and eDiscovery. Among which contract management application is expected to be the highest growing segment in the global market of legal AI software market. Law firms and corporate legal agencies invest a substantial quantity of time analyzing the danger and possibilities connected with the same in the agreement evaluation process. AI-powered solutions can assist them to evaluate the contract terms and the significance of the provisions.  

Regional Analysis

The legal AI software market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; the Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. In terms of region, North America is expected to witness high growth in the upcoming time span. Emerging countries in the region such as the US and Canada are growing in the market and are expected to maintain their dominance in the legal AI market.

Asia Pacific region is expected to witness high growth in the market in the forecast period owing to the presence of key players in the region. Moreover, increasing demand for effective company policy-making, lowering unnecessary expenses and assisting legal firms to make legal situation choices effectively drives the region's market. Europe is anticipated to dominate the global legal AI software market over the projected period. Growth in the amount of AI suppliers in main European nations, such as the UK, Germany, and France, and technological advances are anticipated to be main drivers of growth for the European economy.

Global Legal AI Software Market Size, Share Analysis by Region 2017

Global Legal AI Software Market Study Objective

1. To forecast the market size of legal AI software market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of legal AI software market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have a major impact on the growth of legal AI software market, such as drivers, restraints, challenges, and opportunities.

4. The regional analysis of legal AI software market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.

5. Strategic analysis of micro-markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.

6. To provide detailed analysis of competitive and strategic developments in the legal AI software market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

IBM, OpenText, Thomson Reuters, Veritone, ROSS Intelligence, Luminance, LexisNexis, Neota Logic, Everlaw, Legalsifter, Pensieve, Cognitiv+, Casetext, Klarity, Omni Software Systems, Nalanda Technology, LawGeex, Kira, and CaseMine are some of the key players in the market of legal AI software.

Global Legal AI Software Market Study Report Offer You!

The global legal AI software market study report gives an idea about market size, share, stock, equity, investment, and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end-user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.