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PUBLISHER: Grand View Research | PRODUCT CODE: 1493371
PUBLISHER: Grand View Research | PRODUCT CODE: 1493371
Europe Legal Technology Market Size, Share & Trends Analysis Report By Solution (Software, Services), By End-user (Law Firms, Corporate Legal Departments), By Type, By Country, And Segment Forecasts, 2024 - 2030
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Europe Legal Technology Market Growth & Trends:
The Europe legal technology market size is anticipated to reach USD 11.58 Billion by 2030. It is anticipated to grow at a CAGR of 8.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Technological advancements play a fundamental role in driving the growth of legal technology in Europe. With the development of artificial intelligence (AI), machine learning, and natural language processing (NLP), legal professionals are using it to automate repetitive tasks, analyze vast amounts of data, and provide more accurate predictions. For instance, AI-powered contract review platforms streamline contract analysis, significantly reducing the time and resources required for legal due diligence.
Europe supports the innovation and entrepreneurship ecosystem, with startups and technology companies driving advancements in various industries, including legal services. LegalTech startups are using emerging technologies, such as blockchain, data analytics, and predictive analytics, to develop innovative solutions that address specific challenges and requirements within the legal sector. The availability of funding, mentorship programs, and supportive regulatory environments further fuel the growth of LegalTech startups in the region.
According to the findings of the Legal Departments in a Digital Era Survey conducted by Wolters Kluwer and ECLA, a significant number of legal departments across Europe recognize the necessity of enhancing various aspects of their organization, processes, and management. Approximately 60% of legal departments improved their shared data repositories, while 33% implemented data privacy management tools. Furthermore, it is anticipated that legal technology solutions such as e-signature, contract lifecycle management, legal matter management, data privacy management, and legal spend management are expected to witness rapid adoption over the next five years.
Europe Legal Technology Market Report Highlights:
- The software segment held the largest revenue share of 74.8% in 2023. It is attributed to the increasing demand for efficiency and automation within legal processes.
- The analytics segment is anticipated to witness the fastest CAGR during the forecast period due to the increasing emphasis on data-driven decision-making within legal practice.
- The law firms segment held the largest revenue share in 2023. Law firms increasingly adopt legal tech solutions to streamline their operations, improve client service, and stay competitive in a rapidly evolving industry.
- The UK dominated the Europe regional market with a revenue share of 22.0% in 2023 due to increasing technological innovation and adoption.
- In October 2023, Everlaw announced a collaboration with Alvarez & Marsal (A&M), a professional services firm. This strategic partnership aims to introduce Everlaw's platform to legal clients throughout the UK and the European Union. A&M's Disputes and Investigations practice assists clients in navigating a variety of data-intensive challenges, including offering litigation support, fulfilling investigation requirements, and tackling regulatory matters.
Product Code: GVR-4-68040-287-1
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Solution
- 1.2.2. Type
- 1.2.3. End-user
- 1.2.4. Regional scope
- 1.2.5. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Information Procurement
- 1.4.2. Information or Data Analysis
- 1.4.3. Market Formulation & Data Visualization
- 1.4.4. Data Validation & Publishing
- 1.5. Research Scope and Assumptions
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Solution outlook
- 2.2.2. Type outlook
- 2.2.3. End-user outlook
- 2.3. Competitive Insights
Chapter 3. Europe Legal Technology Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Stricter regulatory requirements, such as GDPR, push law firms to invest in compliance-focused technologies
- 3.2.1.2. Technological innovation leading to the development of AI-powered tools for legal research and analytics
- 3.2.2. Market restraint analysis
- 3.2.2.1. Rising data privacy and security concerns
- 3.2.3. Market opportunity analysis
- 3.2.3.1. Integrating blockchain for smart contract execution streamlines transactions
- 3.2.3.2. Developing AI-driven legal research tools improves efficiency and accuracy in case preparation and analysis
- 3.2.1. Market driver analysis
- 3.3. Europe Legal Technology Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
- 3.3.1. Industry Analysis - Porter's
Chapter 4. Europe Legal Technology Market: Solution Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Europe Legal Technology Market: Solution Movement Analysis, USD Million, 2023 & 2030
- 4.2.1. Solution
- 4.2.1.1. Solution market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.2. Software
- 4.2.1.2.1. Software market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.3. Cloud-based
- 4.2.1.3.1. Cloud-based market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1.4. On-Premises
- 4.2.1.4.1. On-premises market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.2. Services
- 4.2.2.1. Services market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.2.2. Consulting Services
- 4.2.2.2.1. Consulting services market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.2.3. Support Services
- 4.2.2.3.1. Support services market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.2.4. Others
- 4.2.2.4.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 4.2.1. Solution
Chapter 5. Europe Legal Technology Market: Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Europe Legal Technology Market: Type Movement Analysis, USD Million, 2023 & 2030
- 5.2.1. E-discovery
- 5.2.1.1. E-discovery market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.2. Legal Research
- 5.2.2.1. Legal research market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.3. Practice Management
- 5.2.3.1. Practice management market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.4. Analytics
- 5.2.4.1. Analytics market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.5. Compliance
- 5.2.5.1. Compliance market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.6. Document Management
- 5.2.6.1. Document management market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.7. Contract Lifecycle Management
- 5.2.7.1. Contract lifecycle management market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.8. Time-Tracking & Billing
- 5.2.8.1. Time-tracking & billing market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.9. Others
- 5.2.9.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 5.2.1. E-discovery
Chapter 6. Europe Legal Technology Market: End-user & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Europe Legal Technology Market: End-user Movement Analysis, USD Million, 2023 & 2030
- 6.2.1. Law Firms
- 6.2.1.1. Law firms market estimates and forecasts 2018 to 2030 (USD Million)
- 6.2.2. Corporate Legal Departments
- 6.2.2.1. Corporate legal departments market estimates and forecasts 2018 to 2030 (USD Million)
- 6.2.3. Others
- 6.2.3.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- 6.2.1. Law Firms
Chapter 7. Europe Legal Technology Market: Regional Estimates & Trend Analysis
- 7.1. Europe Legal Technology Market Share, By Region, 2023 & 2030, USD Million
- 7.2. Europe
- 7.2.1.1. Europe market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.2. UK
- 7.2.2.1. UK market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.3. Germany
- 7.2.3.1. Germany market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.4. France
- 7.2.4.1. France market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.5. Italy
- 7.2.5.1. Italy market estimates and forecasts 2018 to 2030 (USD Million)
- 7.2.6. Spain
- 7.2.6.1. Spain market estimates and forecasts 2018 to 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping
- 8.5.1. Expansion
- 8.5.2. Mergers & Acquisition
- 8.5.3. Partnerships & Collaborations
- 8.5.4. New Product Launches
- 8.5.5. Research And Development
- 8.6. Company Profiles
- 8.6.1. Anaqua, Inc.
- 8.6.1.1. Company overview
- 8.6.1.2. Financial performance
- 8.6.1.3. Product benchmarking
- 8.6.1.4. Strategic initiatives
- 8.6.2. Casetext Inc.
- 8.6.2.1. Company overview
- 8.6.2.2. Financial performance
- 8.6.2.3. Product benchmarking
- 8.6.2.4. Strategic initiatives
- 8.6.3. DocuSign, Inc.
- 8.6.3.1. Company overview
- 8.6.3.2. Financial performance
- 8.6.3.3. Product benchmarking
- 8.6.3.4. Strategic initiatives
- 8.6.4. Everlaw
- 8.6.4.1. Company overview
- 8.6.4.2. Financial performance
- 8.6.4.3. Product benchmarking
- 8.6.4.4. Strategic initiatives
- 8.6.5. Filevine, Inc.
- 8.6.5.1. Company overview
- 8.6.5.2. Financial performance
- 8.6.5.3. Product benchmarking
- 8.6.5.4. Strategic initiatives
- 8.6.6. Icertis
- 8.6.6.1. Company overview
- 8.6.6.2. Financial performance
- 8.6.6.3. Product benchmarking
- 8.6.6.4. Strategic initiatives
- 8.6.7. Knovos LLC
- 8.6.7.1. Company overview
- 8.6.7.2. Financial performance
- 8.6.7.3. Product benchmarking
- 8.6.7.4. Strategic initiatives
- 8.6.8. Paradigm
- 8.6.8.1. Company overview
- 8.6.8.2. Financial performance
- 8.6.8.3. Product benchmarking
- 8.6.8.4. Strategic initiatives
- 8.6.9. ProfitSolv
- 8.6.9.1. Company overview
- 8.6.9.2. Financial performance
- 8.6.9.3. Product benchmarking
- 8.6.9.4. Strategic initiatives
- 8.6.10. LexisNexis Risk Solutions
- 8.6.10.1. Company overview
- 8.6.10.2. Financial performance
- 8.6.10.3. Product benchmarking
- 8.6.10.4. Strategic initiatives
- 8.6.1. Anaqua, Inc.
Product Code: GVR-4-68040-287-1
List of Tables
- Table 1 List of abbreviations
- Table 2 Europe legal technology market, by country, 2018 - 2030 (USD Million)
- Table 3 Europe legal technology market, by solution, 2018 - 2030 (USD Million)
- Table 4 Europe legal technology market, by type, 2018 - 2030 (USD Million)
- Table 5 Europe legal technology market, by end-user, 2018 - 2030 (USD Million)
- Table 6 UK legal technology market, by solution, 2018 - 2030 (USD Million)
- Table 7 UK legal technology market, by type, 2018 - 2030 (USD Million)
- Table 8 UK legal technology market, by end-user, 2018 - 2030 (USD Million)
- Table 9 Germany legal technology market, by solution, 2018 - 2030 (USD Million)
- Table 10 Germany legal technology market, by type, 2018 - 2030 (USD Million)
- Table 11 Germany legal technology market, by end-user, 2018 - 2030 (USD Million)
- Table 12 France legal technology market, by solution, 2018 - 2030 (USD Million)
- Table 13 France legal technology market, by type, 2018 - 2030 (USD Million)
- Table 14 France legal technology market, by end-user, 2018 - 2030 (USD Million)
- Table 15 Italy legal technology market, by solution, 2018 - 2030 (USD Million)
- Table 16 Italy legal technology market, by type, 2018 - 2030 (USD Million)
- Table 17 Italy legal technology market, by end-user, 2018 - 2030 (USD Million)
- Table 18 Spain legal technology market, by solution, 2018 - 2030 (USD Million)
- Table 19 Spain legal technology market, by type, 2018 - 2030 (USD Million)
- Table 20 Spain legal technology market, by end-user, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Market research process
- Fig. 2 Europe legal technology market segmentation
- Fig. 3 Europe legal technology market landscape
- Fig. 4 Information procurement
- Fig. 5 Data analysis models
- Fig. 6 Market formulation and validation
- Fig. 7 Data validating & publishing
- Fig. 8 Market snapshot
- Fig. 9 Segment snapshot (1/2)
- Fig. 10 Segment snapshot (2/2)
- Fig. 11 Competitive Landscape Snapshot
- Fig. 12 Europe legal technology market: Industry value chain analysis
- Fig. 13 Europe legal technology market: Market dynamics
- Fig. 14 Europe legal technology market: PORTER's analysis
- Fig. 15 Europe legal technology market: PESTEL analysis
- Fig. 16 Europe legal technology market: Solution movement analysis
- Fig. 17 Europe legal technology market: Solution outlook and key takeaways
- Fig. 18 Software market estimates and forecasts, 2018 - 2030
- Fig. 19 Services market estimates and forecasts, 2018 - 2030
- Fig. 20 Europe legal technology market: Type movement analysis
- Fig. 21 Europe legal technology market: Type outlook and key takeaways
- Fig. 22 E-discovery market estimates and forecasts, 2018 - 2030
- Fig. 23 Legal research market estimates and forecasts, 2018 - 2030
- Fig. 24 Practice management market estimates and forecasts, 2018 - 2030
- Fig. 25 Analytics market estimates and forecasts, 2018 - 2030
- Fig. 26 Compliance market estimates and forecasts, 2018 - 2030
- Fig. 27 Document management market estimates and forecasts, 2018 - 2030
- Fig. 28 Contract lifecycle management market estimates and forecasts, 2018 - 2030
- Fig. 29 Time-tracking & billing market estimates and forecasts, 2018 - 2030
- Fig. 30 Others market estimates and forecasts, 2018 - 2030
- Fig. 31 Europe Legal Technology Market: End-user movement Analysis
- Fig. 32 Europe Legal Technology market: End-user outlook and key takeaways
- Fig. 33 Law firms market estimates and forecasts, 2018 - 2030
- Fig. 34 Corporate legal departments market estimates and forecasts, 2018 - 2030
- Fig. 35 Others market estimates and forecasts, 2018 - 2030
- Fig. 36 Europe legal technology Market Revenue, by Country, 2023 & 2030 (USD Million)
- Fig. 37 Country Marketplace: Key takeaways
- Fig. 38 UK legal technology market estimates and forecasts, 2018 - 2030
- Fig. 39 Germany legal technology market estimates and forecasts, 2018 - 2030
- Fig. 40 France legal technology market estimates and forecasts, 2018 - 2030
- Fig. 41 Italy legal technology market estimates and forecasts, 2018 - 2030
- Fig. 42 Spain legal technology market estimates and forecasts, 2018 - 2030
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