Global Legal Software (Focus On Machine Learning) Market Trends And Strategies Of Major Players In The Legal Software Market 2021-2030
26 Nov, 2021
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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 (Focus On Machine Learning) Market Size And Drivers:
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 driving the growth of machine learning market.
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Trends In The Global Legal Software (Focus On Machine Learning) Market
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, dishonoring of cheques, recovering suits, and consumer complaints. For instance, LegalZoom, a US based firms helps you find attorneys without any hourly fees and documents provided by this firm are accepted by courts and government agencies across all the 50 states. This trend in providing online service will drive the demand or legal software.
Global Legal Software (Focus On Machine Learning) Market Segments:
The global legal software market is further segmented –
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 global machine learning in legal software market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Legal Software (Focus On Machine Learning) Market At:
https://www.thebusinessresearchcompany.com/report/legal-software-focus-on-machine-learning-global-market-reportLegal Software (Focus On Machine Learning) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides legal software market overviews, analyzes and forecasts market size and growth for the global legal software (focus on machine learning) market, legal software (focus on machine learning) market share, legal software market players, legal software (focus on machine learning) market segments and geographies, legal software (focus on machine learning) market’s leading competitors’ revenues, profiles and market shares. The legal software market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.