openPR Logo
Press release

Legal AI Software Market Insights | Key players: IBM, Oracle, SAS, Coupa Software and Genpact

05-15-2019 03:42 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets

Legal AI Software Market Insights | Key players: IBM, Oracle,

According to recent research "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”

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.

Ask for Sample Pages @

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).

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

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

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Legal AI Software Market Insights | Key players: IBM, Oracle, SAS, Coupa Software and Genpact here

News-ID: 1740715 • Views: 641

More Releases from MarketsandMarkets

NBR Market | Key players operating in the market include LANXESS, Sinopec, Kumho …
According to recent market research "NBR Market by Application (O-Rings & Seals, Hoses, Belts & Cables, Molded & Extruded Products, Adhesives & Sealants, Gloves), End-use Industry (Automotive & Transportation, Industrial, Oil & Gas, Medical), and Region - Global Forecast 2022", The Nitrile Butadiene Rubber (NBR) market is projected to grow from USD 992.4 Million in 2017 to USD 1,393.0 Million by 2022, at a CAGR of 7.0% between 2017 and
How COVID-19 is impacting the Automotive Composites Market : Top Players are Owe …
Automotive Composites Market is projected to reach USD 13.14 Billion by 2022, at a CAGR of 12.26% between 2017 and 2022. Download PDF Brochure @ The automotive industry across the globe is increasingly focusing on the stringent implementation of various regulations such as the Corporate Average Fuel Efficiency (CAFE) standards and European Emission Standards (EES) formulated by the U.S. and European governments, respectively to reduce CO2 emissions. To comply with these
Digital Multimeter Market worth $1,047 Million by 2024
According to the new market research report "Digital Multimeter Market by Type (Handheld, Benchtop, Mounted), Ranging Type (Auto-ranging, Manual), Application (Automotive, Energy, Consumer Electronics & Appliances, Medical Equipment Manufacturing), and Region - Global Forecast to 2024", The global digital multimeter market size is projected to reach USD 1,047 million by 2024 from an estimated market size of USD 847 million in 2019, at a CAGR of 4.3% during the forecast
Offshore ROV Market to exceed $943.1 Million by 2023
The offshore ROV market is estimated to be USD 802.9 million in 2018 and is projected to reach USD 943.1 million by 2023, at a CAGR of 3.27% from 2018 to 2023. The market is set to grow due to increasing offshore oil & gas discoveries in prominent countries and rise in demand for oil & gas. Browse 65 market data Tables and 42 Figures spread through 125 Pages and in-depth

All 5 Releases

More Releases for Legal

Legal certainty - quo vadis?
Clear instructions provide certainty and direction. They also prevent misunderstandings. Sounds logical, doesn’t it? And if something is unclear, we simply leave it out or make a detour around it – which is certainly what the current method of dealing with some conformity regulations appears to be like at least. What sounds absurd is the sad truth in the electronics industry: different interpretations between manufacturers, notified bodies and authorities have
ESP: Current legal issues
Recent legislative approvals: measures for budgetary stability and competitiveness. After several quarters of slow recovery, the Spanish economy became intensely vulnerable to deterioration in the euro zone and plunged back into recession during 2011. Through the R.D. Law 20/2012, July 13, (B.O.E. 14/07/2012), relating to measures to guarantee the budgetary stability and promote the competitiveness, the Central Government seeks to recover the path of stable economic growth in Spain. Among the measures
ESP: Current legal issues
Recent legislative approvals: The reform of the Spanish Labor Market. The expected Spanish labor market reform has been approved through the R.D. Law 3/2012, February 10th, relative to urgent measures for the Reform of the Labor Market. Among its main measures, includes the following: - Changes in the individual dismissal: the dismissal severance passes from 45 to 33 days of salary per year worked, with a maximum of 24 monthly payments. - Changes in collective dismissals
legal process outsourcing
Aeren LPO India’s leading legal process outsourcing services provider, take a pride in providing a very Cost effective, High Quality, Secure, Technology Enabled and Process Efficient Legal Outsourcing Services as “One Stop Shop”. Our goal is to serve as an extension of our clients’ legal departments and Law firms for all their corporate and litigation needs. Our focus is to built deep & long-term strategic relationships with our clients by acting
Legal Transcription Outsourcing – Benefits
Outsourcing of legal transcription offers a lot of benefits. Indeed, this is one of the reasons why it has become a popularly sought-after solution. Law firms, legal research firms, legal publishing firms, governmental departments, banks, large corporations and insurance companies require legal transcription solutions on a regular basis.   Legal transcriptionists transcribe legal pleadings, court transcripts, briefs, law office recordings, subpoenas, interrogatories, private and public enquiries, subpoenas, cases of the criminal
Legal Transcription for Businesses
In the business sector, there is significant concern for litigation matters. Reliable and quality legal transcription services can greatly enhance business operations. Legal transcription services cover all areas such as construction, corporate, employment and employee benefits, criminal, civil rights, energy, entertainment, environment, healthcare, immigration, insurance, intellectual property, Internet/E-commerce, real estate and more. Services that Meet all Your Legal Processing Needs Legal transcription services help to accurately process all types of legal