Legal AI Software Market Size, Trends & Global Outlook Report to 2026
Legal AI Software Market report published by Value Market Research is an in-depth analysis of the market covering its size, share, value, growth and current trends for the period of 2019-2026 based on the historical data. This research report delivers recent developments of major players with their respective market share. In addition, it also delivers detailed analysis of regional and country market.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the legal AI software market include Ross Intelligence, Thomson Reuters, Veritone, IManage, Luminance, LexisNexis, Neota Logic, Everlaw, Legalsifter, Pensieve, Cognitiv+ and Casetext. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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Market Dynamics
Factors like accuracy, efficiencies, cost savings and speed is the major factor driving of legal AI software market. Growing number of litigations in the legal industry across the world along with rising demand for automation are also propelling the market growth. In addition to this, rising usage of advanced technologies by legal professionals and adoption of new tools is another factor that boost the demand. However, lack of awareness, concern about data privacy and high installation cost are likely to hinder the market growth over the forecast period.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of legal AI software.
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Market Segmentation
The entire legal AI software market has been sub-categorized into component, technology, deployment, end-user and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Component
1. Solutions
· Software Solutions
· Platforms
2. Services
· Professional Services
· Managed Services
By Technology
· Machine Learning and Deep Learning
· Natural Language Processing
By Deployment
· Cloud
· On-Premises
By End User
· Corporate Legal Departments
· Law Firms
By Application
· EDiscovery
· Legal Research
· Contract Management
· Compliance
· Case Prediction
· Others
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for legal AI software market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
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