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Legal Software (focus on machine learning) Global Market Report 2022, By Application, End User, Technology, Deployment Mode

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    Report

  • 175 Pages
  • March 2022
  • Region: Global
  • The Business Research Company
  • ID: 5561705
Legal Software (focus on machine learning) Global Market Report 2022 provides strategists, marketers and senior management with the critical information they need to assess the global legal software (focus on machine learning) market.



The report focuses on the legal software (focus on machine learning) market which is experiencing strong growth. The report gives a guide to the legal software (focus on machine learning) market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for the legal software (focus on machine learning)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Legal Software (focus on machine learning) Market Global Report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

  • The Market Characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope


Markets Covered:
1) By Application: Ediscovery; Legal Research
2) By End User: Corporate Legal Departments; Law Firms
3) By Technology: Machine Learning And Deep Learning; Natural Language Processing
4) By Deployment Mode: Cloud; On-Premise

Companies Mentioned: Microsoft Corporation; IBM Corporation; Google; Baidu; Hewlett Packard Enterprise Development LP (HPE)

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast.

Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.


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Frequently Asked Questions about the Global Legal Software (Focus On Machine Learning) Market

What is the estimated value of the Global Legal Software (Focus On Machine Learning) Market?

The Global Legal Software (Focus On Machine Learning) Market was estimated to be valued at $0.39 billion in 2022.

What is the growth rate of the Global Legal Software (Focus On Machine Learning) Market?

The growth rate of the Global Legal Software (Focus On Machine Learning) Market is 12.7%, with an estimated value of $0.63 billion by 2026.

What is the forecasted size of the Global Legal Software (Focus On Machine Learning) Market?

The Global Legal Software (Focus On Machine Learning) Market is estimated to be worth $0.63 billion by 2026.

Who are the key companies in the Global Legal Software (Focus On Machine Learning) Market?

Key companies in the Global Legal Software (Focus On Machine Learning) Market include Microsoft Corporation, IBM Corporation, Google Inc., Baidu Inc., Hewlett Packard Enterprise Development LP (HPE), Intel Corporation, SAP SE, SAS Institute Inc. and Fair Isaac Corporation (FICO).

Table of Contents

1. Executive Summary2. Legal Software Market Characteristics3. Legal Software Market Trends And Strategies4. Impact Of COVID-19 On Legal Software
5. Legal Software Market Size And Growth
5.1. Global Legal Software Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Legal Software Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Legal Software Market Segmentation
6.1. Global Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
ediscovery
Legal Research
6.2. Global Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Corporate Legal Departments
Law Firms
6.3. Global Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Machine Learning and Deep Learning
Natural Language Processing
6.4. Global Legal Software Market, Segmentation By Deployment Mode, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Cloud
On-Premise
7. Legal Software Market Regional And Country Analysis
7.1. Global Legal Software Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Legal Software Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8. Asia-Pacific Legal Software Market
8.1. Asia-Pacific Legal Software Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8.3. Asia-Pacific Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8.4. Asia-Pacific Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
9. China Legal Software Market
9.1. China Legal Software Market Overview
9.2. China Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
9.3. China Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
9.4. China Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
10. India Legal Software Market
10.1. India Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
10.2. India Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
10.3. India Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11. Japan Legal Software Market
11.1. Japan Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.2. Japan Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.3. Japan Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Australia Legal Software Market
12.1. Australia Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12.2. Australia Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12.3. Australia Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13. Indonesia Legal Software Market
13.1. Indonesia Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13.2. Indonesia Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13.3. Indonesia Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14. South Korea Legal Software Market
14.1. South Korea Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14.2. South Korea Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14.3. South Korea Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15. Western Europe Legal Software Market
15.1. Western Europe Legal Software Market Overview
15.2. Western Europe Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15.3. Western Europe Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15.4. Western Europe Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16. UK Legal Software Market
16.1. UK Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16.2. UK Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16.3. UK Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17. Germany Legal Software Market
17.1. Germany Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17.2. Germany Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17.3. Germany Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18. France Legal Software Market
18.5. France Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18.6. France Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18.7. France Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19. Eastern Europe Legal Software Market
19.1. Eastern Europe Legal Software Market Overview
19.2. Eastern Europe Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19.3. Eastern Europe Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19.4. Eastern Europe Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20. Russia Legal Software Market
20.1. Russia Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20.2. Russia Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20.3. Russia Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21. North America Legal Software Market
21.1. North America Legal Software Market Overview
21.2. North America Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21.3. North America Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21.4. North America Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22. USA Legal Software Market
22.1. USA Legal Software Market Overview
22.2. USA Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22.3. USA Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22.4. USA Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23. South America Legal Software Market
23.1. South America Legal Software Market Overview
23.2. South America Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23.3. South America Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23.4. South America Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24. Brazil Legal Software Market
24.1. Brazil Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24.2. Brazil Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24.3. Brazil Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25. Middle East Legal Software Market
25.1. Middle East Legal Software Market Overview
25.2. Middle East Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25.3. Middle East Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25.4. Middle East Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26. Africa Legal Software Market
26.1. Africa Legal Software Market Overview
26.2. Africa Legal Software Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26.3. Africa Legal Software Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26.4. Africa Legal Software Market, Segmentation By Technology, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
27. Legal Software Market Competitive Landscape And Company Profiles
27.1. Legal Software Market Competitive Landscape
27.2. Legal Software Market Company Profiles
27.2.1. Microsoft Corporation
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. IBM Corporation
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Google, Inc.
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Baidu, Inc.
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Hewlett Packard Enterprise Development LP (HPE)
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Legal Software Market29. Legal Software Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright And Disclaimer

Executive Summary

Major players in the legal software market are Microsoft Corporation, IBM Corporation, GoogleInc., BaiduInc., Hewlett Packard Enterprise Development LP (HPE), Intel Corporation, SAP SE, SAS Institute Inc, BigMLInc, Fair Isaac Corporation (FICO), Wipro, Nuance Communications, KNIME.com AG, RapidMinerInc, Angoss Software Corporation, H2O.ai, Alpine Data, Domino Data LabInc., Dataiku, Luminoso TechnologiesInc., TrademarkVision, Fractal Analytics Inc., TIBCO Software Inc., Teradata, Dell Inc. and Oracle Corporation.

The global legal software (focus on machine learning) market is expected to grow from $0.33 billion in 2021 to $0.39 billion in 2022 at a compound annual growth rate (CAGR) of 16.6%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $0.63 billion in 2026 at a CAGR of 13.2%.

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.

The various type of technologies of legal software is machine learning and deep learning, and natural language processing. Natural language and processing uses algorithms to interpret and manipulate human language and is the subfield of linguistics, computer science, and artificial intelligence. The deployment modes are cloud and on-premise. The various applications of the market are Ediscovery, and legal research. The different end users are corporate legal departments and law firms.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing demand for intelligent business processes in law firms is driving the growth of machine learning market. Intelligent business process includes adoption of artificial intelligence (AI) or machine learning in the business processes. AI is the development of system that has the ability to perform tasks requiring human intelligence. Software solutions are highly adopted in developed countries like the USA to achieve benefits, such as contract management and efficient legal data analysis. Machine learning helps legal firms and professionals to manage their huge data and derive insights from them. According to Legal Technology Survey Report by ABA Surveying, 35% of respondents from large firms with over 500 attorneys reported they used AI and 16% of respondents at firms with 100 or more attorneys were most likely considering an AI purchase. The growing demand to adopt machine learning in the law firms drives the market.

Machine learning market is restrained due to lack of awareness among law firms. Data, information and knowledge together constitute a vital business asset for law firms in decision making process. Law firms face an increasingly competitive market as large accounting firms are re-establishing their legal practices and reducing the amount of work available to the legal firms. According to survey by Bloomberg Law, only 24% of law firms use machine learning or AI indicating the knowledge gap an underuse of the technology. The lack of awareness thus hampers the growth of the 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, dishonouring 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.

Legal software that includes artificial intelligence (AI) and machine learning (ML) are yet to be fully regulated by governing bodies in order to protect the confidential data involved in the processes. For instance, Indian government has set to regulate the development and implementation of AI. However, countries such as the USA are contemplating over the thought to regulate ML and AI as there could be a threat in legally constraining the ML or AI before it could fully be developed in practice.

In November 2020, Onit, Inc., a USA based provider of enterprise spend management software acquired McCarthyFinch for an undisclosed amount. Through this acquisition Onit, Inc intends to use the McCarthyFinch’s AI skills to beef up its legal workflow software offerings. McCarthyFinch, an Auckland based company specialized in Artificial Intelligence, Natural Language, Deep Learning, Machine Learning, Data Science, Law, LegalTech, and LegalAI.

The countries covered in the legal software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Microsoft Corporation
  • IBM Corporation
  • Google Inc.
  • Baidu Inc.
  • Hewlett Packard Enterprise Development LP (HPE)
  • Intel Corporation
  • SAP SE
  • SAS Institute Inc.
  • BigML Inc.
  • Fair Isaac Corporation (FICO)
  • Wipro
  • Nuance Communications
  • KNIME.com AG
  • RapidMiner Inc.
  • Angoss Software Corporation
  • H2O.ai
  • Alpine Data
  • Domino Data Lab Inc.
  • Dataiku
  • Luminoso Technologies Inc.
  • TrademarkVision
  • Fractal Analytics Inc.
  • TIBCO Software Inc.
  • Teradata
  • Dell Inc.
  • Oracle Corporation

Methodology

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