Legal Artificial intelligence (AI) Software Market Share, Trends, Growth, Analysis and Forecast 2023-2030

The global legal artificial intelligence (AI) software market is anticipated to grow at a CAGR of 36.8% during the forecast period (2023-2030). AI software can be used to review and analyze documents for errors, inconsistencies, and relevant clauses. It can also identify terms and concepts to aid in document retrieval and understanding. Additionally, AI-based tools can assist in contract management, legal research, due diligence, and e-discovery. These tools can quickly identify and analyze data points, and help to reduce the time and cost associated with tasks. Furthermore, the growth of the market's is attributed to productivity and efficiency. Legal AI software can automate routine processes such as document inspection and contract analysis, increasing the productivity of legal personnel. As a result, productivity increases and legal professionals can concentrate on more sophisticated and strategic work. For instance, in September 2023, EY launched AI platform EY.ai following $1.4 billion investment. These investments have enabled the incorporation of AI into proprietary EY technologies such as EY Fabric, which is utilized by 60,000 EY clients and over 1.5 million unique client users, in addition to assisting in the completion of a succession of EY technology acquisitions with accompanying cloud and automation technologies.

To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/legal-ai-software-market

Furthermore, solutions can be used to process large datasets, making them suitable for law firms and legal departments of all sizes and allowing them to be adapted to various business requirements. For instance, in August 2023, Gunderson Dettmer Launched ChatGD. The first US-Based firm to develop proprietary internal generative AI App.

Market Coverage

• The market number available for - 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Component
o By Deployment
o By Application
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Casetext, Inc., Ernst & Young Global Ltd., Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP, Kira Inc., LexisNexis group, and others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Legal Artificial intelligence (AI) Software Market Report Segment

By Component

• Solution
• Services

By Deployment

• On-Premise
• Cloud

By Application

• Legal Research
• Contract Review and Management
• E-billing
• E-discovery
• Compliance
• Case Prediction
• Others (Document Review and Analysis)

By End-User

• Law Firms
• Corporate Legal Departments
• Others (Legal Professionals, Government and Public Sector, Compliance and Regulatory Departments)

A full report of Legal Artificial intelligence (AI) Software Market available @ https://www.omrglobal.com/industry-reports/legal-ai-software-market

Global Legal Artificial intelligence (AI) Software Market Report Segment by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa

Company Profiles

• Ernst & Young Global Ltd.
• Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP
• Kira Inc.
• LexisNexis group
• Luminance Technologies Ltd.
• Neota Logic Inc.
• Open Text Corp.
• Reveal Data Corp.
• ROSS Intelligence, Inc.
• Smokeball

Reasons to Buying From us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.

Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

This release was published on openPR.