Edison, NJ -- (SBWIRE) -- 05/17/2021 -- The latest study released on the Global Legal Tech Market by AMA Research evaluates market size, trend, and forecast to 2026. The Legal Tech market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Key Players in This Report Include:
Blue J Legal (Canada),Anaqua Inc. (United States),CrimsonLogic (Singapore),INTELLEX (Singapore),Kira Inc. (Canada),LexisNexis (United States),Pensieve (India),Practice Evolve (Australia),Resolve Software Group (RSG) (Australia),Casetext Inc. (United States),Catalyst Repository Systems (United States)
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Definition:
Legal technology, also known as Legal Tech, refers to the technology and software that are used to provide legal services. Legal technologies have turned into the essential element of competition among legal-market stakeholders. Traditional law firms are facing a very large amount of pressure from clients to deliver more at less cost and higher quality. This goes with the advent of reforms in the legal market, especially those pushed by new technological opportunities. Legal technologies allow legal service provider to enhance productivity, offer innovative digital products such as cybercrime consultation, contract management, due diligence, which improves legal-service delivery and quality while keeping costs at a low level. Specifically, scholars have defined legal technology as the application of technology and to help law firms with practice management like billing, big-data, e-discoveries and document storage.
Market Trends:
- Increasing Automation in Legal Industry
- Increasing Demand for More Efficiency from Legal Profession
Market Drivers:
- Increasing Number of Attorneys
- Move From Outside Counsel to In-House Counsel for Corporations
Market Opportunities:
- Growing Smart Contacts
- Need of Legal Input in Each Case
The Global Legal Tech Market segments and Market Data Break Down are illuminated below:
by Application (Document Management System, E-Discovery, Practice and Case Management, E-Billing, Contract Management, IP-Management, Legal Analytics, Others), Components (Software, Solutions), Enterprise Size (Large departments (40+ attorneys), Mid-sized departments (10-39 attorneys), Small departments (1-9 attorneys)), End-Users (Clients, Lawyers)
Global Legal Tech market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
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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).
Objectives of the Report
- -To carefully analyze and forecast the size of the Legal Tech market by value and volume.
- -To estimate the market shares of major segments of the Legal Tech market.
- -To showcase the development of the Legal Tech market in different parts of the world.
- -To analyze and study micro-markets in terms of their contributions to the Legal Tech market, their prospects, and individual growth trends.
- -To offer precise and useful details about factors affecting the growth of the Legal Tech market.
- -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Legal Tech market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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Major highlights from Table of Contents:
Legal TechMarket Study Coverage:
- It includes major manufacturers, emerging player's growth story, and major business segments of Legal Tech market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
- Legal Tech Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
- Legal Tech Market Production by Region Legal Tech Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
- Key Points Covered in Legal Tech Market Report:
- Legal Tech Overview, Definition and Classification Market drivers and barriers
- Legal Tech Market Competition by Manufacturers
- Impact Analysis of COVID-19 on Legal Tech Market
- Legal Tech Capacity, Production, Revenue (Value) by Region (2019-2025)
- Legal Tech Supply (Production), Consumption, Export, Import by Region (2019-2025)
- Legal Tech Production, Revenue (Value), Price Trend by Type {Cloud Based, Web Based}
- Legal Tech Market Analysis by Application {Large Enterprises, SMEs}
- Legal Tech Manufacturers Profiles/Analysis Legal Tech Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
- Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
- How feasible is Legal Tech market for long-term investment?
- What are influencing factors driving the demand for Legal Tech near future?
- What is the impact analysis of various factors in the Global Legal Tech market growth?
- What are the recent trends in the regional market and how successful they are?
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