According to the study, Introduction of Blockchain Technology in the Law Sector
is one of the primary growth factors for the market. Growing Demand for AI-based Solution in the Legal Sector
is also expected to contribute significantly to the LegalTech Artificial Intelligence market. Overall, Legal Analytics
applications of LegalTech Artificial Intelligence, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The presence of players such as 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) and Blue J Legal Inc. (Canada) pushing strong cash flow in Market which is also a key in driving revenue growth.
AMAs Analyst on the Global LegalTech Artificial Intelligence market identified that the demand is rising in many different parts of the world as "Increasing Adoption of AI Technology in Government Agencies and Private Law Firms
". Furthermore, some recent industry insights like "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." is constantly making the industry dynamic. One of the challenges that industry facing is "Less Awareness among Firms for AI in Legal Services"
The report provides an in-depth analysis and forecast about the industry covering the following key features:
Detailed Overview of LegalTech Artificial Intelligence market will help deliver clients and businesses making strategies. Influencing factors that thriving demand and latest trend running in the market What is the market concentration? Is it fragmented or highly concentrated? What trends, challenges and barriers will impact the development and sizing of LegalTech Artificial Intelligence market SWOT Analysis of profiled players and Porter's five forces & PEST Analysis for deep insights. What growth momentum or downgrade market may carry during the forecast period? Which region may tap highest market share in coming era? What focused approach and constraints are holding the LegalTech Artificial Intelligence market tight? Which application/end-user category or Product Type [] may seek incremental growth prospects? What would be the market share of key countries like Germany, USA, France, China etc.?
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the LegalTech Artificial Intelligence market and other related sub-markets covered in the study.
o Key & emerging players in the LegalTech Artificial Intelligence market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall LegalTech Artificial Intelligence market size is calculated using market estimation process, the LegalTech Artificial Intelligence market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global LegalTech Artificial Intelligence market size has been validated using both top-down and bottom-up approaches.