Legal Artificial intelligence (AI) Software Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2024 to 2031)

Legal AI software market is anticipated to grow at a CAGR of 36.8% during the forecast period (2024-2031). The market’s growth is attributed to balancing innovation and security. Copyright legislation has to strike a balance between supporting AI innovation and protecting content creators' rights. It needs to encourage AI development while maintaining creators' rights. For instance, in March 2023, Copyright Office launched new initiative to examine the copyright law and policy issues raised by AI, including the scope of copyright in works generated using AI tools and the use of copyrighted materials in AI training.

The global legal AI software market is segmented on the component, deployment application, and end-user. Based on the component, the market is sub-segmented into solution, and services. Based on the deployment, the market is sub-segmented into on-premise, and cloud. Based on the application, the market is sub-segmented into legal research, contract review and management, e-billing, e-discovery, compliance, case prediction, and others. Further, on the basis of end-user, the market is sub-segmented into law firms, corporate legal departments, and others. The solution subcategory is expected to capture a significant portion of the market share within the component segment. This is attributed to the growing adoption of legal AI software for handling the legal department's tasks. AI-powered software solutions are assisting in the automation and acceleration of mundane, repetitive components of legal practice.

To Request a Sample of our Report on Legal Artificial intelligence (AI) Software Market: https://www.omrglobal.com/request-sample/legal-ai-software-market

Market Coverage

  • Market number available for – 2023-2031
  • Base year- 2023
  • Forecast period- 2024-2031
  • Segment Covered- By Source, By Product Type, By Applications
  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
  • , and others

Legal Artificial intelligence (AI) Software Market Segmentation

By Component 

  • Solution
  • Services

By Deployment

  • On-Premise
  • Cloud

By Application 

  • Legal Research
  • Contract Review and Management
  • E-billing
  • E-discovery
  • Compliance
  • Case Prediction
  • Others (Document Review and Analysis)

By End-User

  • Law Firms
  • Corporate Legal Departments
  • Others (Legal Professionals, Government and Public Sector, Compliance and Regulatory Departments)

A full report of Legal Artificial intelligence (AI) Software Market available @ https://www.omrglobal.com/industry-reports/legal-ai-software-market

Regional Analysis

North America                                                                                                            

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles 

  • Ernst & Young Global Ltd.
  • Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP
  • Kira Inc.
  • LexisNexis group
  • Luminance Technologies Ltd.
  • Neota Logic Inc.
  • Open Text Corp.
  • Reveal Data Corp.
  • ROSS Intelligence, Inc.
  • Smokeball
  • Thomson Reuters Corp.
  • Veritone, Inc.
  • William

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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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