NJ New Jersey, USA -- (SBWIRE) -- 01/02/2024 -- Advance Market Analytics published a new research publication on "LegalTech Artificial Intelligence Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the LegalTech Artificial Intelligence market was mainly driven by the increasing R&D spending across the world.
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Some of the key players profiled in the study are:
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).
Definition of the Report of LegalTech Artificial Intelligence
The LegalTech Artificial Intelligence (AI) market pertains to the intersection of technology, specifically artificial intelligence, with the legal industry. LegalTech AI involves the development and implementation of advanced technological solutions, particularly AI algorithms and tools, to streamline and enhance various legal processes and services. This includes but is not limited to contract review and analysis, legal research, document automation, e-discovery, and case prediction. The integration of AI in legal technology aims to improve efficiency, accuracy, and cost-effectiveness within legal practices. By leveraging machine learning algorithms and natural language processing, LegalTech AI systems can analyze vast amounts of legal data, identify patterns, and assist legal professionals in making informed decisions. The market for LegalTech AI solutions has seen significant growth as law firms, corporate legal departments, and other legal service providers recognize the potential benefits of automation and intelligent data analysis in addressing the complexities of modern legal challenges.
The titled segments and sub-section of the market 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)
Market Trends:
Introduction of Blockchain Technology in the Law Sector
Growing Digitization and Increasing Use of Cloud
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
Market Drivers:
Growing Demand for AI-based Solution in the Legal Sector
Increased Efficiency with Fewer Chances of Error by AI Enabled System
On April 23, 2018, LegalMation™, developer of a revolutionary A.I. platform, has announced that Ogletree Deakins, a leading labor and employment law firm, will utilize LegalMation's innovative technology on certain litigation matters.
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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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 & Opportunities 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 the by Type, End User and Region/Country 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/Company with revenue share and sales by key countries in these various regions (2023-2028)
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.
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