Legal Technology Market Insights 2025-2034: Growth Forecast and Strategic Priorities

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Legal Technology Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for legal technology has seen significant expansion in recent times. The market, which is projected to escalate from $30.33 billion in 2024 to $33.25 billion in 2025, is estimated to have a compound annual growth rate (CAGR) of 9.6%. Factors contributing to the growth during the historic period include an amplified legal workload and intricacy, regulatory compliance mandates, the emergence of e-discovery solutions, global and cross-jurisdictional legal issues, and client demands for efficiency.

Legal Technology Market Size Forecast: What's the Projected Valuation by 2029?
The market size of legal technology is projected to witness significant growth in the forthcoming years, escalating to a value of $47.61 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 9.4%. The anticipated growth during the prediction period is attributed to the amplified emphasis on cybersecurity, cloud-based legal services, diversity, equity, and inclusion-related efforts (DEI), cost stresses in legal functionalities, and the use of blockchain for smart contracts. Noteworthy trends during the forecast period encapsulate the application of blockchain technology in legal procedures, the prevalence of remote work and virtual teamwork, the inclusion of legal technology in education, regulatory technology (regtech), e-discovery, and digital forensics.

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What Are the Drivers Transforming the Legal Technology Market?
The escalation of legal disputes and probes is anticipated to fuel the advancement of the legal technology market. Litigation and investigations, distinct legal proceedings encompassing dispute resolution or scrutinizing actions for their compliance with suitable laws and regulations, employ legal technology to aid attorneys in locating and reviewing information, making decisive evaluations, and conducting essential duties for securing triumphs in legal scenarios. For example, in February 2023, the Office of Public Affairs-a US governmental body-reported that the US Department of Justice procured over $2.2 billion via settlements and decisions from civil lawsuits related to fraud and deceit in 2022 under the False Claims Act (FCA). As such, the upswing in litigation and investigations underpins the expansion of the legal technology market. Increased remote working requirements are projected to accelerate the legal technology market's growth. Remote work, defined as a work setup where employees perform work duties outside of a conventional office setting, depends heavily on legal technology resources for ensuring data security and compliance with privacy rules. It also involves setting up secure communication pathways, encryption, and adherence to data protection regulations. For example, as revealed by the Bureau of Labor Statistics-a US Department of Labor subordinate-in September 2023, the telework rate, or the percentage of paid workers who telework or operate from home, oscillated between 17.9% and 20.0% from October 2022 to August 2023. Consequently, the climbing demand for remote work propels the growth of the legal technology market.

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What Long-Term Trends Will Define the Future of the Legal Technology Market?
Leading businesses in the legal technology market are producing groundbreaking products by utilizing artificial intelligence (AI), for example, document summarization tools, to cater to their customers more effectively. These tools, which are software applications, employ both artificial intelligence (AI) and natural language processing (NLP), can automatically truncate lengthy documents into shorter and crisper summaries, highlighting the essential information and key points. Specifically, in September 2023, LegalZoom, a company from the US delivering legal technology and services, introduced Doc Assist, a complimentary document summarization tool that utilizes generative artificial intelligence (AI) to aid small enterprises in efficiently scrutinizing documents, keeping them organized, rapidly understanding crucial data, and seeking advice from esteemed attorneys for insightful decision-making. This tool permits users to upload any legal documents, and promptly reveals essential details, abbreviates vital clauses, and recommends relevant questions depending on the type of document. DocAssist amalgamates cutting-edge Generative AI technology with LegalZoom's proficiency, acting as a tailor-made guide for traversing the complicated world of legal paperwork.

Which Segments in the Legal Technology Market Offer the Most Profit Potential?
The legal technology market covered in this report is segmented -

1) By Type: Case Management, Lead Management, Document Management, Billing And Accounting, Other Types
2) By Solution: E-Discovery, Legal Research, Legal Analytics, Document Management, Other Solutions
3) By End-User: Law Firms, Corporate Legal Departments, Other End-Users

Subsegments:
1) By Case Management: Client and Contact Management, Case Scheduling and Calendar Management, Task and Workflow Management
2) By Lead Management: Lead Capture and Tracking, Client Intake Management, Lead Conversion Tools
3) By Document Management: Document Storage and Retrieval, Document Collaboration and Sharing, Version Control and Audit Trail
4) By Billing and Accounting: Time Tracking and Billing, Expense Management, Financial Reporting and Invoicing
5) By Other Types: E-Discovery Tools, Contract Management, Legal Research Tools

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Which Firms Dominate the Legal Technology Market by Market Share and Revenue in 2025?
Major companies operating in the legal technology market report are RELX PLC, Thomson Reuters, Wolters Kluwer N.V., OpenText Corporation, LexisNexis Legal & Professional Company, DocuSign Inc., LegalZoom, Dialpad, Dye & Durham Limited, The Access Group, Icertis Inc., Relativity ODA LLC, Everlaw Inc., iManage LLC, Anaqua Inc., Nextpoint, Themis Solutions Inc., Mitratech Holdings Inc., Filevine Inc., Practice Insight Pty Ltd., WiseTime Ltd., TimeSolv Corporation, Clio, Fidu, Knovos LLC, Lawyaw, Legalboards, Mystacks Inc., ProfitSolv LLC

Which Regions Offer the Highest Growth Potential in the Legal Technology Market?
North America was the largest region in the legal technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the legal technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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