Legal AI Software Market by Technology, Function, Deployment, End-User

List of Tables

The Legal AI Software Market is projected to reach USD 1,293.64 million by 2030 from USD 478.90 million in 2022, at a CAGR of 13.22% during the forecast period.

Global Legal AI Software Market

KEY MARKET STATISTICS
Base Year Value [2022]	USD 478.90 million
Estimated Year Value [2023]	USD 540.11 million
Forecast Year Value [2030]	USD 1,293.64 million
CAGR (%)	13.22%

Market Segmentation & Coverage:

This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Legal AI Software Market.

Based on Technology, market is studied across Cognitive Computing, Machine Learning, and Natural Language Processing. The Natural Language Processing is projected to witness significant market share during forecast period.

Based on Function, market is studied across Contract Analysis & Management, eDiscovery & Document Review, Legal Compliance, Legal Research & Case Law Analysis, and Virtual Legal Assistants. The Legal Research & Case Law Analysis is projected to witness significant market share during forecast period.

Based on Deployment, market is studied across Hybrid, On-Cloud, and On-Premises. The On-Premises is projected to witness significant market share during forecast period.

Based on End-User, market is studied across Corporate Legal Departments, Government Agencies, Law Firms, and Legal Tech Companies. The Law Firms is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas is projected to witness significant market share during forecast period.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is an indispensable tool for assessing the Legal AI Software Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.

Market Share Analysis:

The Market Share Analysis offers invaluable insights into the vendor landscape Legal AI Software Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.

Key Company Profiles:

The report delves into recent significant developments in the Legal AI Software Market, highlighting leading vendors and their innovative profiles. These include Amto AI, Brightflag, Casetext Inc., Clio by Themis Solutions Inc., ContractPod Technologies Ltd., Corsearch, Inc., Donnelley Financial Solutions, Everlaw, Inc., Exterro, Inc., Gauge Data Solutions Pvt. Ltd., International Business Machines Corporation, Kira Systems by Litera, Lawgeex, Legal Sifter, Inc., Luminance Technologies Ltd., MRI Software LLC, Nalanda Technology, Neota Logic, Onelawai, Onit, Inc., Open Text Corporation, Reveal-Brainspace, ROSS Intelligence, Inc., Smokeball, Inc., and Veritone, Inc..

The report offers valuable insights on the following aspects:

1. Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.

2. Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.

3. Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.

4. Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.

5. Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast for the Legal AI Software Market?

2. Which products, segments, applications, and areas hold the highest investment potential in the Legal AI Software Market?

3. What is the competitive strategic window for identifying opportunities in the Legal AI Software Market?

4. What are the latest technology trends and regulatory frameworks in the Legal AI Software Market?

5. What is the market share of the leading vendors in the Legal AI Software Market?

6. Which modes and strategic moves are suitable for entering the Legal AI Software Market?

Product Code: MRR-521BAA36EBEB

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Legal AI Software Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing focus on optimizing legal business operations efficiently and effectively
  - 5.1.1.2. Rising digitalization of the legal industry and adoption of cloud computing
  - 5.1.1.3. High adoption by small & medium scale legal firms worldwide
- 5.1.2. Restraints
  - 5.1.2.1. Limitations associated with implementation and interoperability of the software
- 5.1.3. Opportunities
  - 5.1.3.1. New technology integrations and additions in legal AI software
  - 5.1.3.2. Emergence of startups catering to legal case management and document contracting
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with data security and privacy breaches
5.2. Market Segmentation Analysis
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Legal AI Software Market, by Technology

6.1. Introduction
6.2. Cognitive Computing
6.3. Machine Learning
6.4. Natural Language Processing

7. Legal AI Software Market, by Function

7.1. Introduction
7.2. Contract Analysis & Management
7.3. eDiscovery & Document Review
7.4. Legal Compliance
7.5. Legal Research & Case Law Analysis
7.6. Virtual Legal Assistants

8. Legal AI Software Market, by Deployment

8.1. Introduction
8.2. Hybrid
8.3. On-Cloud
8.4. On-Premises

9. Legal AI Software Market, by End-User

9.1. Introduction
9.2. Corporate Legal Departments
9.3. Government Agencies
9.4. Law Firms
9.5. Legal Tech Companies

10. Americas Legal AI Software Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Legal AI Software Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Legal AI Software Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player

14. Competitive Portfolio

14.1. Key Company Profiles
- 14.1.1. Amto AI
- 14.1.2. Brightflag
- 14.1.3. Casetext Inc.
- 14.1.4. Clio by Themis Solutions Inc.
- 14.1.5. ContractPod Technologies Ltd.
- 14.1.6. Corsearch, Inc.
- 14.1.7. Donnelley Financial Solutions
- 14.1.8. Everlaw, Inc.
- 14.1.9. Exterro, Inc.
- 14.1.10. Gauge Data Solutions Pvt. Ltd.
- 14.1.11. International Business Machines Corporation
- 14.1.12. Kira Systems by Litera
- 14.1.13. Lawgeex
- 14.1.14. Legal Sifter, Inc.
- 14.1.15. Luminance Technologies Ltd.
- 14.1.16. MRI Software LLC
- 14.1.17. Nalanda Technology
- 14.1.18. Neota Logic
- 14.1.19. Onelawai
- 14.1.20. Onit, Inc.
- 14.1.21. Open Text Corporation
- 14.1.22. Reveal-Brainspace
- 14.1.23. ROSS Intelligence, Inc.
- 14.1.24. Smokeball, Inc.
- 14.1.25. Veritone, Inc.
14.2. Key Product Portfolio

15. Appendix

15.1. Discussion Guide
15.2. License & Pricing