The LegalTech Artificial Intelligence Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the LegalTech Artificial Intelligence Market?
The market for legaltech artificial intelligence has seen substantial growth in recent years. The market size is projected to increase from a value of $2.15 billion in 2024 to $2.82 billion in 2025, with a compound annual growth rate (CAGR) of 31.0%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the LegalTech Artificial Intelligence Industry?
The legaltech artificial intelligence market is forecasted to reach a market size of $8.43 billion by 2029, with a compound annual growth rate of 31.5%.
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What are the Key Growth Drivers Fueling the LegalTech Artificial Intelligence Market?
The key drivers in the legaltech artificial intelligence market are:
• Advancements in natural language processing (NLP)
• Global regulatory change
• Increasing embrace of cloud-based solutions
• Continued emphasis on cybersecurity
Global Market Segmentation: Identifying Major LegalTech Artificial Intelligence Industry Segments
The legaltech artificial intelligence market covered in this report is segmented –
1) By Component: Software, Services
2) By Application: Legal Analytics, Legal Research, Electronic Discovery (eDiscovery), Contract Management, E-Billing, Prediction Technology, Other Applications
3) By End-User: Law Firms, Corporations, Legal Service Providers
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What are the Emerging Trends Shaping the Future of the LegalTech Artificial Intelligence Market?
The key trends in the legaltech artificial intelligence market are:
• Virtual legal assistants are becoming a significant trend in the legaltech AI market.
• There is an expanding use of blockchain technology within various legal processes.
• The industry is placing emphasis on explainable AI, leading to its emergence as a key trend.
• Cloud-based legal solutions and automation in contract lifecycle management are increasingly being integrated into the market.
Who Are the Top Competitors & Leading Players in the LegalTech Artificial Intelligence Market?
Major companies in the legaltech artificial intelligence market are:
• International Business Machines Corporation (IBM)
• Opentext Corporation
• Conga Solutions
• Veritone Inc.
• FiscalNote Holdings Inc.
• Lawgeex
• Lex Machina Inc
• Reveal
• LawGeex
• Kira Inc
• Neota Logic Inc
• Blue J Legal
• eBREVIA
• Justia
• Casetext Inc
• LawTrades
• Catalyst Repository Systems Inc
• Luminance Technologies Ltd
• Legal Robot Inc
• Woodpecker
Regional Dominance: Which Area Leads the Global LegalTech Artificial Intelligence Market?
North America was the largest region in the legaltech artificial intelligence market in 2024
