New York, NY, March 27, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “LegalTech Artificial Intelligence Market by Application (Document Management System, E-Discovery, Practice and Case Management, E-Billing, Contract Management, IP-Management, Legal Research, Legal Analytics, Cyber Security, Predictive Technology, and Compliance) and by End-User (Lawyers and Clients): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global legaltech artificial intelligence market was valued at approximately USD 3,245 million in 2018 and is expected to generate around USD 37,858 million by 2026, at a CAGR of around 35.94% between 2019 and 2026.

Artificial intelligence (AI) is increasingly transforming the field of law practice. Many legal professionals are aware that AI can significantly reduce cost and time while increasing accuracy. AI plays an important role in faster and better delivery of certain legal services at an economical cost. Various corporate law firms and legal departments are implementing AI for the standardization and review of documents. AI in the legal context is defined as technologies that are intelligent but have certain defined functions. The rising funding for AI and the growing AI adoption in legal firms are major factors driving the global legaltech artificial intelligence market growth in the upcoming years. Additionally, rising acquisitions and mergers in the legaltech industry are also fuelling the global legaltech artificial intelligence market. However, the regular need for software updates and high-cost of technologies may hamper the global legaltech artificial intelligence market over the estimated timeline.

Browse through 50 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global LegalTech Artificial Intelligence Market: Size, Industry Share, Applications, Segments, Analysis and Forecast 2018–2026”.

Request Free Sample Report of Global LegalTech Artificial Intelligence Market Report @ https://www.zionmarketresearch.com/sample/legaltech-artificial-intelligence-market

Based on end-user, the market is segmented into lawyers and clients. The lawyer's segment accounted for a major market share in 2018 and is expected to dominate over the forecast timeframe. Lawyers, both in-house and outside counsel, are in search of new and innovative ways to tap on the opportunities that AI offers to increase their efficiency and reduce costs. The quick implementation of AI for in-house legal counsel enables the lawyers to automate the processes and dedicate more time to important and valuable work. There has been a growth of around 65% in legaltech companies using AI as compared to corresponding Law Geex study in 2017.

Download Free Report PDF Brochure: https://www.zionmarketresearch.com/requestbrochure/legaltech-artificial-intelligence-market

By application, the legaltech artificial intelligence market is segmented into the document management system, e-discovery, practice and case management, e-billing, contract management, IP-management, legal research, legal analytics, cybersecurity, predictive technology, and compliance. E-billing application is estimated to show a significant CAGR over the forecast time period. It assists in sending bills and collecting electronic payments via the internet, where AI helps in maintaining confidential data.

By region, Asia Pacific held the major market share in 2018 and is expected to dominate over the forecast timeframe. In terms of revenue, China contributed the highest market share to the Asia Pacific legaltech artificial intelligence market in 2018, owing to the rising number of printer cartridges manufacturers and increasing demand for domestic and commercial photo printing services across the country.

Browse the full “LegalTech Artificial Intelligence Market by Application (Document Management System, E-Discovery, Practice and Case Management, E-Billing, Contract Management, IP-Management, Legal Research, Legal Analytics, Cyber Security, Predictive Technology, and Compliance) and by End-User (Lawyers and Clients): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/legaltech-artificial-intelligence-market

The North American legaltech artificial intelligence market is anticipated to show considerable market growth in the years ahead, owing to the presence of key companies and large investments made in the AI market. The U.S. contributed the largest market share toward the North American legaltech artificial intelligence market in 2018, owing to the country’s robust infrastructure and advanced cloud and blockchain technology facilities.

In terms of revenue, the European legaltech artificial intelligence market is anticipated to grow at a substantial CAGR over the forecast time period, due to the rising focus on cloud-based legal AI solutions.

Inquire more about this report before purchase @ https://www.zionmarketresearch.com/inquiry/legaltech-artificial-intelligence-market

Some major players operating in the global legaltech artificial intelligence market are Blue J Legal, Casetext Inc., Catalyst Repository Systems, eBREVIA, Everlaw, FiscalNote, Judicata, Justia, Knomos Knowledge Management Inc., Lawgeex, Legal Robot, Inc., LEVERTON, LexMachina, Loom Analytics, Luminance Technologies Ltd., Ravel Law, ROSS, and vLex.com, among others.

Request customized copy of report @ https://www.zionmarketresearch.com/custom/3952

This report segments the global legaltech artificial intelligence market into:

Global LegalTech Artificial Intelligence Market: Application Analysis

  • Document Management System
  • E-Discovery
  • Practice and Case Management
  • E-Billing
  • Contract Management
  • IP-Management
  • Legal Research
  • Legal Analytics
  • Cyber Security
  • Predictive Technology
  • Compliance

Global LegalTech Artificial Intelligence Market: End-User Analysis

  • Lawyers
  • Clients

Global LegalTech Artificial Intelligence Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

Related Reports:

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research
Follow Us Twitter: https://twitter.com/zion_research

Blog: http://zmrindustryjournal.us  | http://zmrresearchnews.us | http://zmrmarketjournal.com  | http://zmrindustrynews.us | http://zmrnewsmagazine.com | https://zmrnewsblog.com | http://zmrmarketresearch.com | http://zmrindustryanalysis.com

Contact Us:

Joel John
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com

Website: https://www.zionmarketresearch.com

Blog: http://zmrblog.com