Stay up to date and take advantage of the latest trends in the Legal Tech Market with the latest edition of AMA.
An up-to-date intelligence report published by AMA Research entitled, Legal Tech Market Outlook to 2026. A detailed study compiled to provide the latest insight into acute features of the global legal tech market. This report provides an in-depth look at the key drivers of the Legal Tech market and factors such as drivers, reluctance, past and current trends, regulatory scenarios, and technology evolution; a thorough analysis of these factors including economic slowdown, local and global reforms, and COVID-19 impact , was carried out to determine the future growth prospects in the world market.
Legal Technology, also known as Legal Tech, refers to the technology and software used to provide legal services. Legal technologies have become an integral part of the competition between actors in the legal market. Traditional law firms face huge pressure from clients to deliver more at a lower cost and higher quality. This goes hand in hand with the emergence of reforms in the legal market, particularly those driven by new technological opportunities. Legal technologies enable legal service providers to increase productivity and offer innovative digital products such as cybercrime advice, contract management and due diligence that improve the delivery and quality of legal services while keeping costs low. In particular, scholars have defined legal technology as the application of technology and assisted law firms with practice management such as billing, big data, e-discovery and document storage.
The main actors in this report include
Blue J Legal (Canada), Anaqua Inc. (USA), CrimsonLogic (Singapore), INTELLEX (Singapore), Kira Inc. (Canada), LexisNexis (USA), Pensieve (India), Practice Evolve (Australia), Resolve Software Group (RSG) (Australia), Casetext Inc. (USA), Catalyst Repository Systems (USA)
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• Increasing automation in the legal industry
• Growing demand for law firms to be more efficient
• Increasing number of lawyers
• Change from external counsel to internal counsel for companies
• Growing intelligent contacts
• Need for legal assistance in any case
The Global Legal Tech Market Segments and Market Data Breakdown are highlighted below:
by application (document management system, e-discovery, practice and case management, e-billing, contract management, IP management, legal analytics, other), components (software, solutions), company size (large departments (40+ lawyers), medium-sized departments ( 10-39 lawyers), small departments (1-9 lawyers), end users (clients, lawyers)
Legal Tech bases the manufacturing cost structure analysis of the market on the core chain structure, engineering process, raw materials and suppliers. The production facility was developed for the market needs and the development of new technologies. It also cites the legal tech market’s attractiveness by country, end-user, and other metrics so that the reader can gauge the most useful or commercial areas to invest in. The study also includes a dedicated chapter (qualitative) to highlight issues that industry players face in their production cycle and supply chain. However, the overall estimates and sizing, various tables and graphs presented in the study give an idea of how great the impact of COVID is.
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Geographically, the World Legal Tech markets can be divided into North America, Europe, Asia-Pacific (APAC), the Middle East, as well as Africa and Latin America. North America has established a leading position in the world market and is expected to continue in the years to come. The growing demand for legal tech markets will drive the growth of the North American market over the next few years.
The last section of the report introduced the companies that are responsible for increasing sales in the Legal Tech market. These companies were analyzed with regard to their production base, basic information and competitors. In addition, the types of applications and products introduced by each of these companies form an important part of this section of the report. The recent improvements in the world market and their impact on the future growth of the market were also presented in this study.
• Comprehensive overview of the parent and replacement market
• Change in market dynamics in the industry (COVID & Economic Impact Analysis)
• In-depth market segmentation (trends, growth with historical & forecast analysis)
• Latest industry trends and development activities
• Competitive landscape (heat map analysis for emerging players and market share analysis for key players along with detailed profiles)
Strategic Points Covered in the Legal Tech Market Table of Contents:
Chapter 1: Introduction, Product of the Market Drivers Objective of the study and scope of research of the global Legal Tech Market
Chapter 2: Exclusive Summary- the basic info of the Global Legal Tech Market.
Chapter 3: Changing Impacts on Market Dynamics – Drivers, Trends, and Challenges and Opportunities of Global Legal Tech; Post-COVID analysis
Chapter 4: Presentation of Global Market Factor Analysis for Legal Tech, Post-COVID Impact Analysis, Porter’s Five Forces, Supply / Value Chain, PESTEL Analysis, Market Entropy, Patent / Trademark Analysis.
Chapter 5: Ads by Type, End User and Region / Country 2015-2020
Chapter 6: Assessment of Leading Manufacturers of Global Legal Tech Market Consisting of Competitive Landscape, Peer Group Analysis, BCG Matrix, and Company Profile &
Chapter 7: Assessment of the Market by Segments, by Countries and by Manufacturers / Companies with Revenue Share and Revenue by Key Countries in These Different Regions (2021-2026)
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Important questions answered
• Who are the major leading players and what are their key business plans in the Legal Tech Market?
• What are the main concerns of the Five Forces Analysis of the Legal Tech Market?
• What are the different prospects and threats for traders in the legal tech market?
• What possible measures do the actors take to overcome and stabilize the situation?
Thank you for reading this article; You can also get individual chapter-wise sections or regional report versions like North America, Middle East, Africa, Europe or LATAM, Asia.
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About the author:
Advance Market Analytics is a global leader in the market research industry, providing Fortune 500 companies with quantified B2B research on high-growth opportunities that will impact more than 80% of global corporate revenue.
Our analyst is following a high growth study with detailed statistical and in-depth analysis of market trends and dynamics providing a complete view of the industry. We follow a comprehensive research methodology coupled with critical insights into industry factors and market forces in order to achieve the best value for our clients. We provide reliable primary and secondary data sources, our analysts and consultants derive informative and usable data that are appropriate for our clients’ business needs. The research study enables clients to achieve various market goals, from expanding their global presence to optimizing the supply chain and from profiling competitors to M&As.
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