(MENAFN- iCrowdNewsWire) A Latest intelligence report published by AMA Research with title“ LegalTech Artificial Intelligence Market Outlook to 2026. A detailed study accumulated to offer Latest insights about acute features of the Global LegalTech Artificial Intelligence Market . This report provides a detailed overview of key factors in the LegalTech Artificial Intelligence Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. A thorough analysis of these factors including economic slowdown, local & global reforms and COVID-19 Impact has been conducted to determine future growth prospects in the global market.
Major Players in This Report Include,
ROSS Intelligence, Inc. (United States),Legalmation (United States),Casetext Inc. (United States),LawGeex (United States),LexisNexis (United States),eBREVIA (United States),LegalSifter, Inc. (United States),Luminance Technologies Ltd. (United Kingdom),Kira Inc. (Canada),Blue J Legal Inc. (Canada)
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Definition:
Artificial intelligence is increasingly transforming industries, including law practice. Companies that use technology for the legal sector are known as LegalTech companies. They provide software and services to the legal sector, businesses, corporations, and consumers. AI in legal practices is gaining popularity due to increased accuracy and efficiency in legal records keeping with low cost. With the help of Artificial Intelligence, Law firms can review contracts in less time, without compromising on quality. The United States market for LegalTech Artificial Intelligence is expected to rise with the growing number of mergers and acquisitions in the LegalTech industry and significant investments in AI-related technologies in the region. According to the ABA's 2020 Legal Technology Survey Report, Artificial intelligence-based tools continue to be used by only a very small percentage of law firms.
Market Trend:
Introduction of Blockchain Technology in the Law Sector
Growing Digitization and Increasing Use of Cloud
Market Drivers:
Growing Demand for AI-based Solution in the Legal Sector
Increased Efficiency with Fewer Chances of Error by AI Enabled System
Challenges:
Less Awareness among Firms for AI in Legal Services
Opportunities:
Increasing Adoption of AI Technology in Government Agencies and Private Law Firms
Huge Opportunities for Start-ups and New Market Entrants
Increasing Burden of Legal Activities across the Law Sector
The Global LegalTech Artificial Intelligence Market segments and Market Data Break Down are illuminated below:
by Application (Legal Analytics, Legal Research, E-discovery, Contract Management, E-Billing, Prediction Technology, Others (IP-Management, Cyber Security, Document Automation)), Pricing (Monthly Subscription, Annually Subscription), Component (Software, Services), End User (Lawyers, Clients, Law Firms)
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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Report Highlights:
- Comprehensive overview of parent market & substitute market
- Changing market dynamics in the industry (COVID & Economic Impact Analysis)
- In-depth market segmentation (Trends, Growth with Historical & Forecast Analysis)
- Recent industry trends and development activity
- Competitive landscape (Heat Map Analysis for Emerging Players & Market Share Analysis for Major Players along with detailed Profiles)
Strategic Points Covered in Table of Content of Global LegalTech Artificial Intelligence Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the LegalTech Artificial Intelligence market
Chapter 2: Exclusive Summary – the basic information of the LegalTech Artificial Intelligence Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges of the LegalTech Artificial Intelligence
Chapter 4: Presenting the LegalTech Artificial Intelligence Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying market size by Type, End User and Region 2015-2020
Chapter 6: Evaluating the leading manufacturers of the LegalTech Artificial Intelligence market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries (2021-2026).
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
Finally, LegalTech Artificial Intelligence Market is a valuable source of guidance for individuals and companies in decision framework.
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Key questions answered
- Who are the Leading key players and what are their Key Business plans in the Global LegalTech Artificial Intelligence market?
- What are the key concerns of the five forces analysis of the Global LegalTech Artificial Intelligence market?
- What are different prospects and threats faced by the dealers in the Global LegalTech Artificial Intelligence market?
- What are the strengths and weaknesses of the key vendors?
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Southeast Asia.
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