LegalTech Artificial Intelligence Market Next Big Thing | Major Giants Blue J Legal, LegalSifter, Luminance Technologies

Global LegalTech Artificial Intelligence Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player's market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.

Major Players in This Report Include,
ROSS Intelligence, Inc. (United States), Legalmation (United States), Casetext Inc. (United States), LawGeex (United States), LexisNexis (United States), eBREVIA (United States), LegalSifter, Inc. (United States), Luminance Technologies Ltd. (United Kingdom), Kira Inc. (Canada), Blue J Legal Inc. (Canada).

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The utilization of Artificial Intelligence is progressively revolutionizing various industries, including the field of law. These technology-driven companies that cater to the legal sector are commonly referred to as LegalTech companies. Their focus is on providing software and services to businesses, corporations, and consumers within the legal realm. The popularity of AI in legal practices is soaring due to its ability to maintain highly accurate and efficient legal records at a reduced cost. With the aid of Artificial Intelligence, law firms can now review contracts faster without compromising the quality of their work.

In the United States, the market for LegalTech Artificial Intelligence is expected to witness substantial growth, driven by an increasing number of mergers and acquisitions in the LegalTech industry and significant investments in AI-related technologies within the region. Despite these advancements, as reported in the ABA's 2020 Legal Technology Survey Report, only a very small percentage of law firms have embraced and integrated AI-based tools into their operations.

Opportunities
• Increasing Adoption of AI Technology in Government Agencies and Private Law Firms
• Increasing Burden of Legal Activities across the Law Sector

Market Drivers
• Increased Efficiency with Fewer Chances of Error by AI Enabled System

Market Trend
• Growing Digitization and Increasing Use of Cloud

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In this research study, the prime factors that are impelling the growth of the Global LegalTech Artificial Intelligence market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.

The LegalTech Artificial Intelligence market study is being classified by Application (Legal Analytics, Legal Research, E-discovery, Contract Management, E-Billing, Prediction Technology, Others (IP-Management, Cyber Security, Document Automation)), Pricing (Monthly Subscription, Annually Subscription), Component (Software, Services), End User (Lawyers, Clients, Law Firms)

The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global LegalTech Artificial Intelligence market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.

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Extracts from Table of Contents
LegalTech Artificial Intelligence Market Research Report
Chapter 1 LegalTech Artificial Intelligence Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Revenue (Value, Volume*) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 7 Global Market Analysis by Application
………………….continued

This report also analyzes the regulatory framework of the Global Markets LegalTech Artificial Intelligence Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.

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