Legal AI Software Market to Witness Huge Growth by Key Players: IBM, OpenText, Thomson Reuters, Veritone, ROSS Intelligence, Luminance, LexisNexis, Neota Logic, Everlaw, Legalsifter and Others.

The report titled “Legal AI Software Market” sheds a concentrated focus on the Legal AI Software industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.

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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 are now available in this research.

Top Companies profiled in the Legal AI Software market:
• 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)

“Software solutions to grow at a higher CAGR during the forecast period”
The legal AI software market by solutions has software solutions and platforms segments.Software solutions have witnessed high adoption to achieve many benefits, such as smooth contract management process and analyzing legal data efficiently. It helps legal firms and professionals to manage their huge data and derive insights from them.

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“Corporate legal department to grow at the highest rate during the forecast period”
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.

“Among regions, Europe to grow at the highest CAGR during the forecast period”
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.

Competitive Landscape of Legal AI Software Market:
1 Competitive Leadership Mapping (Startup)
1.1 Progressive Companies
1.2 Responsive Companies
1.3 Dynamic Companies
1.4 Starting Blocks
2 Strength of Product Portfolio
3 Business Strategy Excellence

Reason to access this report:
• The report segments the market into various sub segments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its sub segments. The market numbers are further split across applications and regions.

• It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.

• It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.

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This release was published on openPR.