LegalTech’s Artificial Intelligence Market Set for Explosive Growth | LexisNexis, eBREVIA, Luminance Technologies, ROSS Intelligence

Advance Market Analytics has published a new research publication on “LegalTech Artificial Intelligence Market Insights, to 2027” with 232 pages and enriched with self-explained tables and graphs in a presentable format. In the study, you will find new evolving trends, drivers, restraints, and opportunities generated by targeting stakeholders associated with the market. The growth of the LegalTech artificial intelligence market was mainly driven by increasing R&D expenditures across the globe.

Some of the key players profiled in the study are:

ROSS Intelligence, Inc. (US), Legalmation (US), Casetext Inc. (US), LawGeex (US), LexisNexis (US), eBREVIA (US), LegalSifter, Inc. (USA), Luminance Technologies Ltd. (UK), Kira Inc. (Canada), Blue J Legal Inc. (Canada).

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Market trends:
Introduction of Blockchain technology in the legal sector
Growing digitization and growing use of the cloud

Artificial intelligence is increasingly transforming industries, including the practice of law. Companies that use technology for the legal industry are known as LegalTech companies. They provide software and services to the legal industry, businesses, corporations and consumers. AI in legal practices is gaining popularity due to the increased accuracy and efficiency of low-cost legal record keeping. With the help of artificial intelligence, law firms can review contracts in less time, without compromising on quality. The U.S. LegalTech artificial intelligence market is expected to grow with the increasing number of mergers and acquisitions in the LegalTech sector and the large investments in AI-related technologies in the region. According to the ABAs 2020 Legal Technology Survey Report, AI-based tools continue to be used by only a very small percentage of law firms.

The titled segments and sub-sections of the market are illuminated below:

By Application (Legal Analysis, Legal Research, E-Discovery, Contract Management, E-Invoicing, Prediction Technology, Others (IP Management, Cybersecurity, Document Automation)), Pricing (Monthly Subscription, Annual Subscription), Component (Software, Services ), end user (lawyers, clients, law firms)

Increased adoption of AI technology in government agencies and private law firms
Huge opportunities for start-ups and new market entrants

Market factors:
Growing demand for AI-based solutions in the legal industry
Increased efficiency with less risk of error thanks to the AI-enabled system

Regions included are: North America, Europe, Asia-Pacific, Oceania, South America, Middle East and Africa

Country level breakdown: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), Netherlands, Spain, Italy, Belgium , Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand, etc.

If you have any questions regarding LegalTech’s Global Artificial Intelligence Market report, ask our [email protected]

On April 23, 2018, LegalMation™developer of a breakthrough AI platform, announced that Ogletree Deakins, a leading labor and employment law firm, will use LegalMation’s innovative technology for certain litigation.

Points Covered in Table of Content of LegalTech Global Artificial Intelligence Market:

Chapter 01 – LegalTech Artificial Intelligence Executive Summary

Chapter 02 – Market Overview

Chapter 03 – Key success factors

Chapter 04 – Global Artificial Intelligence Market Covid-19 Crisis Analysis LegalTech

Chapter 05 – Global LegalTech Artificial Intelligence Market – Price Analysis

Chapter 06 – LegalTech Global Artificial Intelligence Market Background

Chapter 07 – Global LegalTech Artificial Intelligence Market Segmentation

Chapter 08 – Analysis of Key and Emerging Countries in Global LegalTech Artificial Intelligence Market

Chapter 09 Global LegalTech Artificial Intelligence Market Structure Analysis

Chapter 10 – Competitive Analysis of Global LegalTech Artificial Intelligence Market

Chapter 11 – Assumptions and Acronyms

Chapter 12 – Research Methodology

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Thank you for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

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