The artificial intelligence helps the legal representative to manage all the related legal function smoothly and efficiently. AI has the capability of analyzing and summarizing data to help it make a future prediction about the legal proceeding far better than the human mind. The legal AI software can make decision-based on proper analysis of data. Artificial Intelligence is a significant factor in shifting the way legal proceedings are done.
Increase in the adoption rate of AI to enhance the customer and client by making a proper decision by Legal AI software market. The growing number of process of taking legal conclusion across the World in the legal industry, demand for automation in legal AI software market by the right company to reduce their time in completing a legal case drive growth for legal AI software market. Lack of awareness among the law firm is the factor hampering the growth for legal AI software market. Growing demand for data-driven decision in Legal AI market drives the growth for legal AL software market.
The "Global Legal AI software Market Analysis to 2027" is a specialized and in-depth study of the Technology, Media and Telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of Legal AI software market with detailed market segmentation by technology, type and geography. The global Legal AI software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Legal AI software market players and offers key trends and opportunities in the market.
The global Legal AI software market is segmented on the basis of Component, Technology, Deployment Mode and End User. Based on Component, the market is segmented into Solutions and Services. On the basis of the Technology the market is segmented into Machine Learning and Deep Learning and Natural Language Processing. On the basis of the Deployment Mode the market is segmented Cloud and On-Premises. On the basis of the End User the market is segmented into Corporate Legal Departments, Law Firms and Others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Legal AI software market based on various segments. It also provides market size and forecast estimates from year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Service Analytics market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Legal AI software market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the Legal AI software market in these regions.
The reports cover key developments in the Legal AI software market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Legal AI software market are anticipated to lucrative growth opportunities in the future with the rising demand for Legal AI software market in the global market. Below mentioned is the list of few companies engaged in the Legal AI software market.
The report also includes the profiles of key Legal AI software market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- IBM Corporation
- Casetext, Inc.
- LegalSifter, Inc.
- Luminance Technologies Ltd.
- Nalanda Technology
- Neota Logic
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.