Global Legal Software Market Outlook, Opportunities And Strategies

December 2, 2021 by The Business Research Company

Learn about the global legal software market through The Business Research Company, which provides information on legal software market size, legal software market drivers and restraints, legal software market players, the COVID-19 impact on the legal software market, and more.

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The global legal software (focus on machine learning) market is expected to grow from $0.33 billion in 2020 to $0.37 billion in 2021 at a compound annual growth rate (CAGR) of 12.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The legal software market is expected to reach $0.95 billion in 2025 at a CAGR of 26.6%.

Increasing demand for intelligent business processes in law firms is expected to drive innovation in legal software manufacturing, thus driving the market during the forecast period.

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The legal software market consists of sales of legal software and related services. Legal software is used to deliver solution and services using artificial intelligence and machine learning for corporate legal departments and law firms.

Global legal software market segments include:

By Application: Ediscovery, Legal Research

By End User: Corporate Legal Departments, Law Firms

By Technology: Machine Learning And Deep Learning, Natural Language Processing

By Deployment Mode: Cloud, On-Premise

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Many online platforms have been introduced that provide potential clients to connect with the lawyers for simple services that includes trademark registration, leases, registration and execution of wills, contracts and lease agreements, dishonouring of cheques, recovering suits, and consumer complaints.

TBRC’s legal software market report covers:

Major Market Players: Microsoft Corporation, IBM Corporation, Google, Inc., Baidu, Inc., and Hewlett Packard Enterprise Development LP (HPE).

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Legal Software Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides legal software market overviews, analyzes and forecasts market size, share, legal software market players, legal software market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s legal software market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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