Legal Tech Market Next Big Thing | Major Giants Kira Inc., LexisNexis, Pensieve, Practice Evolve

A Latest intelligence report published by AMA Research with title "Legal Tech Market Insights, Forecast to 2028" provides latest updates and strategic steps taken by competition along with growth estimates of market size. The Legal Tech Market report gives clear visions how the research and estimates are derived through primary and secondary sources considering expert opinion, patent analysis, latest market development activity and other influencing factors.

Some of the key players profiled in the study are

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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Market Overview of Legal Tech

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.

On February 26, 2019- CrimsonLogic partners Astana International Financial Centre Court (AIFC Court) and International Arbitration Centre (IAC) to launch Central Asia’s first ever eJustice system, as part of Kazakhstan’s ongoing drive towards digital transformation. This System will allow for high configurability and flexibility in quickly meeting AIFC’s judiciary workflows.

On January 30, 2019- Anaqua, the leading provider of innovation and intellectual property management solutions, has announced AQX, a leading-edge software platform that enables corporations to align their IP portfolio strategy with their business objectives and provides law firms powerful new automation and business development tools.

Market Trends

·       Increasing Automation in Legal Industry

·       Increasing Demand for More Efficiency from Legal Profession

Drivers

·       Increasing Number of Attorneys

·       Move From Outside Counsel to In-House Counsel for Corporations

Challenges

·       Lack of Understanding How Technology Can Be Deployed In the Legal Function

·       Lack of Industry Standards

Opportunities

·       Growing Smart Contacts

·       Need of Legal Input in Each Case

If you are involved in the Legal Tech industry or aim to be, then this study will provide you inclusive point of view. It’s vital you keep your market knowledge up to date segmented by major players. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization according to your requirement.

The 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)

Regions Covered in the Global Legal Tech Market:

• 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).

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Key Benefits for Stakeholders

- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Legal Tech market analysis from 2023 to 2030 to identify the prevailing Legal Tech market opportunities.

- Market research is offered along with information related to key drivers, restraints, and opportunities.

- Porter's five forces analysis highlights buyers' and suppliers' potency to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.

- An in-depth analysis of the Legal Tech market segmentation assists in determining the prevailing market opportunities.

- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

- The report includes an analysis of the regional and global Legal Tech market trends, key players, market segments, application areas, and market growth strategies.

Table of Contents

Global Legal Tech Market Research Report

Chapter 1 Global Legal Tech Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Productions, Revenue (Value) by Region

Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions

Chapter 6 Global Productions, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Legal Tech Market Forecast

Finally, Legal Tech Market is a valuable source of guidance for individuals and companies.

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