31.3% Growth Rate for Legal AI Software market by 2024 | Latest Innovation, Advance Technology, Top Companies

According to Market Study Report, Legal AI Software Market provides a comprehensive analysis of the Legal AI Software Market segments, including their dynamics, size, growth, regulatory requirements, technological trends, competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the Legal AI Software Market.
An exclusive data offered in this report is collected by research and industry experts team.

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The Legal AI Software size to grow from US$ 317 Million in 2019 to US$ 1,236 Million by 2024, at a CAGR of 31.3% during 2019–2024. This report spread across 134 pages, profiling 19 companies and supported with 52 tables and 42 figures is now available in this research.

Key Players- 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), CaseMine (India).

The legal AI software by end user has corporate legal departments, law firms, and other segments.The coporate legal department segment is expected to grow at the highest CAGR during the forecast period, as legal AI software helps them in reducing the cost and stream lining work and processes, reducing repetitive tasks, and attorneys focusing more on building strategies, and increasing productivity. Law firms have adopted legal AI software to save time and increase efficiency.

The legal AI software market by region covers North America, Europe, APAC, MEA, and Latin America. Europe is expected to grow at the highest CAGR,owing to the increasing adoption of AI software solutions to manage the tasks efficiently and derive insights from the data. Growth in the number of AI vendors in major European countries, such as the UK, Germany,and France, and technological advancements are expected to be key growth drivers for the market in Europe.

The Study Objectives of this report are:
• To study the complete value chain of market
• To analyze opportunities in the market for stakeholders by identifying the high growth segments of the legal AI software ecosystem
• To analyze strategic approaches, such as product/solution/service launches, acquisitions, agreements, and partnerships, in the legal AI software market
• To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with the detailed competitive landscape for market leaders
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market

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Research Coverage:
The Report segments the global legal AI software market by applications eDiscovery, legal research, contract management, compliance, case prediction, and others (divorce automation, ebilling, knowledge management, and IP management);component (solutions and services); technology (ML and deep learning, and NLP); end user (corporate legal department, law firms and others [national firms, solo practitioners, students, subject matter experts, and judges]);and region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).

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This release was published on openPR.