PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517478
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1517478
Global LegalTech Market Size study, by Solution, by Type, by End-user and Regional Forecasts 2022-2032
Global LegalTech Market is valued approximately at USD 30.21 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 8.96% over the forecast period 2024-2032. LegalTech, short for Legal Technology, refers to the use of technology and software to provide legal services and enhance the practice of law. It encompasses a wide range of applications and tools designed to streamline legal processes, improve efficiency, and facilitate access to justice. LegalTech solutions include case management software, e-discovery tools, contract management platforms, legal research databases, virtual law firms, and artificial intelligence (AI) applications for legal analysis and decision-making.
Global LegalTech Market is driven by increasing digitization of legal processes and documentation and rising adoption of cloud-based solutions across the world. The LegalTech sector is undergoing a transformative shift as digitization increasingly pervades legal processes and documentation. This trend is driven by the growing need for efficiency, accuracy, and security in legal operations. The gradual yet accelerating adoption of cloud-based solutions by corporate legal departments and law firms has catalyzed this market's growth, especially as hybrid work environments become more prevalent. The integration of cloud services specifically designed for the legal domain is further propelling the growth of the legal practice management market. However, technical complexities and data security concerns is going to impede the overall demand for the market during the forecast period 2024-2032.
The key regions considered for the Global Legaltech Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in 2023, attributed to the robust IT infrastructure and high adoption rate of digital technologies among legal firms. The region's advanced technological landscape supports the integration of LegalTech solutions, including case management software, e-discovery tools, and AI-powered legal analytics platforms. Legal firms in North America leverage these technologies to enhance operational efficiency, improve client service delivery, and manage legal processes more effectively. Furthermore, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, owing to increasing digitization efforts and the rising number of legal firms in emerging economies.
Major market player included in this report are:
- RPX Corporation
- Casetext Inc.
- Themis Solutions Inc. (Clio)
- Everlaw
- Filevine, Inc.
- Checkbox Technology Pty Ltd
- Mighty
- PracticePanther
- MyCase
- CosmoLex Cloud, LLC.
- Smokeball, Inc.
- TimeSolv
The detailed segments and sub-segment of the market are explained below:
By Solution:
- Deployment
- Services
By Type:
- Case Management
- Lead Management
- Document Management
- Contract Lifecycle Management
- Billing & Accounting
- Others
By End-user:
- Law Firms
- Corporate Legal Departments
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market
Table of Contents
Chapter 1. Global LegalTech Market Executive Summary
- 1.1. Global LegalTech Market Size & Forecast (2022- 2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Solution
- 1.3.2. By Type
- 1.3.3. By End-user
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global LegalTech Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global LegalTech Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increasing digitization of legal processes and documentation
- 3.1.2. Rising adoption of cloud-based solutions
- 3.2. Market Challenges
- 3.2.1. Technical Complexities
- 3.2.2. Data security concerns
- 3.3. Market Opportunities
- 3.3.1. Expansion in emerging economies
- 3.3.2. Growing reliance on big data analytics
Chapter 4. Global LegalTech Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global LegalTech Market Size & Forecasts by Solution 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global LegalTech Market: Solution Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Deployment
- 5.2.2. Services
Chapter 6. Global LegalTech Market Size & Forecasts by Type 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global LegalTech Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Case Management
- 6.2.2. Lead Management
- 6.2.3. Document Management
- 6.2.4. Contract Lifecycle Management
- 6.2.5. Billing & Accounting
- 6.2.6. Others
Chapter 7. Global LegalTech Market Size & Forecasts by End-user 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global LegalTech Market: End-user Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Law Firms
- 7.2.2. Corporate Legal Departments
Chapter 8. Global LegalTech Market Size & Forecasts by Region 2022-2032
- 8.1. North America LegalTech Market
- 8.1.1. U.S. LegalTech Market
- 8.1.1.1. Solution breakdown size & forecasts, 2022-2032
- 8.1.1.2. Type breakdown size & forecasts, 2022-2032
- 8.1.1.3. End-user breakdown size & forecasts, 2022-2032
- 8.1.2. Canada LegalTech Market
- 8.1.1. U.S. LegalTech Market
- 8.2. Europe LegalTech Market
- 8.2.1. U.K. LegalTech Market
- 8.2.2. Germany LegalTech Market
- 8.2.3. France LegalTech Market
- 8.2.4. Spain LegalTech Market
- 8.2.5. Italy LegalTech Market
- 8.2.6. Rest of Europe LegalTech Market
- 8.3. Asia-Pacific LegalTech Market
- 8.3.1. China LegalTech Market
- 8.3.2. India LegalTech Market
- 8.3.3. Japan LegalTech Market
- 8.3.4. Australia LegalTech Market
- 8.3.5. South Korea LegalTech Market
- 8.3.6. Rest of Asia Pacific LegalTech Market
- 8.4. Latin America LegalTech Market
- 8.4.1. Brazil LegalTech Market
- 8.4.2. Mexico LegalTech Market
- 8.4.3. Rest of Latin America LegalTech Market
- 8.5. Middle East & Africa LegalTech Market
- 8.5.1. Saudi Arabia LegalTech Market
- 8.5.2. South Africa LegalTech Market
- 8.5.3. Rest of Middle East & Africa LegalTech Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. RPX Corporation
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Casetext Inc.
- 9.3.3. Themis Solutions Inc. (Clio)
- 9.3.4. Everlaw
- 9.3.5. Filevine, Inc.
- 9.3.6. Checkbox Technology Pty Ltd
- 9.3.7. Mighty
- 9.3.8. PracticePanther
- 9.3.9. MyCase
- 9.3.10. CosmoLex Cloud, LLC.
- 9.3.11. Smokeball, Inc.
- 9.3.12. TimeSolv
- 9.3.1. RPX Corporation
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
