Product Code: GVR-4-68040-111-1
Legal AI Market Growth & Trends:
The global legal AI market revenue is anticipated to reach USD 3.90 billion by 2030, according to a new study by Grand View Research, Inc. It is anticipated to expand at a CAGR of 17.3% from 2025 to 2030. The ever-expanding volume of legal documents, contracts, and regulations has led to increased challenges for legal professionals in managing and extracting meaningful insights from vast amounts of information.
Legal Artificial Intelligence (AI) offers solutions such as automated document analysis and eDiscovery tools to automate and expedite information processing. AI enables the automation of repetitive tasks, such as contract review and due diligence, reducing the time and resources required for these activities. Such advantages offered by AI are increasing demand for AI in the legal industry. Using legal AI tools, legal professionals can focus on higher-value work, improving efficiency and cost savings by automating routine tasks.
AI tools are further helping identify risks, predict case outcomes, and offer strategic guidance, enabling legal professionals to make more informed decisions. In addition, regulatory frameworks are constantly evolving, and organizations must ensure compliance with various laws and regulations, creating demand for AI-based solutions for assistance in monitoring regulatory changes, assessing compliance risks, and ensuring adherence to legal requirements. The continuous advancements in natural language processing, machine learning, and data analytics have further propelled legal systems' capabilities, fueling the market's growth. Such technologies enable accurate data extraction, semantic understanding, and context-aware decision-making, making legal solutions more powerful and effective.
The legal industry has witnessed improvement in document analysis and review processes with the help of AI. AI-powered systems can identify key clauses, analyze document structure, and flag potential risks or discrepancies. For instance, E-discovery, the process of identifying and collecting electronic data for legal proceedings, has been revolutionized by AI technology to efficiently analyze and process large volumes of electronically stored information (ESI), enabling legal firms to ensure faster and more accurate data identification preservation and review. Predictive coding and machine learning algorithms assist in prioritizing and categorizing documents based on their relevance to legal cases.
There is a rapidly growing trend of using virtual assistants and chatbots powered by AI technology in legal settings to provide quick access to legal information, answer common legal questions, and assist with basic legal inquiries. These AI-powered assistants can interact with users, understand their queries, and provide relevant responses, improving client service and efficiency. The technology is also being employed to address cybersecurity and compliance challenges. AI-powered systems can detect and prevent potential data breaches, monitor regulatory changes, assess compliance risks, and ensure adherence to legal and privacy requirements. The companies are introducing innovative legal AI products, further creating lucrative growth opportunities for the market. For instance, in March 2023, Casetext, the legal AI company, launched CoCounsel, the AI legal assistant. CoCounsel leverages the most advanced large language model from OpenAI, which Casetext has customized for legal practice.
Legal AI Market Report Highlights:
- The solutions segment accounted for the largest market share in 2024 driven by the increased adoption of legal AI software for handling the legal department's work, growing demand for AI-based software solutions to automate and accelerate the routine, repetitive aspects of legal practices.
- The legal research segment dominated the market in 2024, owing to the growing adoption of AI-powered NLP tools to understand and interpret complex legal language, making it easier to find relevant case law, statutes, and regulations, and the rising need to analyze vast amounts of legal data to predict case outcomes, identify potential risks, and optimize legal strategies.
- The law firms segment dominated the market in 2024, owing to increased spending on AI technology by law firms.
- The machine learning and deep learning technology segment accounted for the largest market share of over 63% in 2024, owing to rising adoption of ML and DL to develop sophisticated algorithms that can analyze large volumes of legal data, extract insights, and automate various legal processes.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.2.1. Information analysis
- 1.2.2. Market formulation & data visualization
- 1.2.3. Data validation & publishing
- 1.3. Research Scope and Assumptions
- 1.3.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Legal AI Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Market Opportunities Analysis
- 3.3.4. Market Trend Analysis
- 3.4. Legal AI Market Analysis Tools
- 3.4.1. Component Analysis - Porter's
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and social landscape
- 3.4.2.3. Technological landscape
- 3.5. Legal AI Market - Technology Trends
Chapter 4. Legal AI Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Legal AI Market: Component Movement Analysis, 2024 & 2030 (USD Million)
- 4.3. Solution
- 4.3.1. Solution Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.2. Cloud-based
- 4.3.2.1. Cloud-based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.3. On-Premises
- 4.3.3.1. On-Premises Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.2. Consulting Services
- 4.4.2.1. Consulting Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.3. Support Services
- 4.4.3.1. Support Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.4. Others
- 4.4.4.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Legal AI Market: Technology Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Legal AI Market: Technology Movement Analysis, 2024 & 2030 (USD Million)
- 5.3. Natural Language Processing Technology
- 5.3.1. Natural Language Processing Technology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Machine Learning and Deep Learning Technology
- 5.4.1. Machine Learning and Deep Learning Technology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Legal AI Market: Application Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Legal AI Market: Application Movement Analysis, 2024 & 2030 (USD Million)
- 6.3. E-Discovery
- 6.3.1. E-Discovery Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Legal Research
- 6.4.1. Legal Research Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Analytics
- 6.5.1. Analytics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Compliance and Regulatory Monitoring
- 6.6.1. Compliance and Regulatory Monitoring Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.7. Document Drafting and Review
- 6.7.1. Document Drafting and Review Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.8. Contract Management
- 6.8.1. Contract Management Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.9. Legal Chatbots
- 6.9.1. Legal Chatbots Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.10. Others
- 6.10.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Legal AI Market: End Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Legal AI Market: End Use Movement Analysis, 2024 & 2030 (USD Million)
- 7.3. Law Firms
- 7.3.1. Law Firms Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Corporate Legal Departments
- 7.4.1. Corporate Legal Departments Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. Others
- 7.5.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Legal AI Market: Regional Estimates & Trend Analysis
- 8.1. North America
- 8.1.1. North America Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.1.2. U.S.
- 8.1.2.1. U.S. Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.1.3. Canada
- 8.1.3.1. Canada Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.1.4. Mexico
- 8.1.4.1. Mexico Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2. Europe
- 8.2.1. Europe Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.2. U.K.
- 8.2.2.1. U.K. Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.3. Germany
- 8.2.3.1. Germany Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.4. France
- 8.2.4.1. France Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.5. Italy
- 8.2.5.1. Italy Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.2.6. Spain
- 8.2.6.1. Spain Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3. Asia Pacific
- 8.3.1. Asia Pacific Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.2. China
- 8.3.2.1. China Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.3. Japan
- 8.3.3.1. Japan Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.4. India
- 8.3.4.1. India Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.5. South Korea
- 8.3.5.1. South Korea Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.3.6. Australia
- 8.3.6.1. Australia Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4. Latin America
- 8.4.1. Latin America Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4.2. Brazil
- 8.4.2.1. Brazil Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.4.3. Argentina
- 8.4.3.1. Argentina Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5. Middle East and Africa
- 8.5.1. Middle East and Africa Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5.2. UAE
- 8.5.2.1. UAE Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5.3. Saudi Arabia
- 8.5.3.1. Saudi Arabia Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 8.5.4. South Africa
- 8.5.4.1. South Africa Legal AI Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Company Categorization
- 9.2. Company Market Positioning
- 9.3. Company Heat Map Analysis
- 9.4. Company Profiles
- 9.4.1. Casetext Inc.
- 9.4.1.1. Participant's Overview
- 9.4.1.2. Financial Performance
- 9.4.1.3. Product Benchmarking
- 9.4.1.4. Strategic Initiatives
- 9.4.2. CosmoLex Cloud, LLC
- 9.4.2.1. Participant's Overview
- 9.4.2.2. Financial Performance
- 9.4.2.3. Product Benchmarking
- 9.4.2.4. Strategic Initiatives
- 9.4.3. Docusign, Inc.
- 9.4.3.1. Participant's Overview
- 9.4.3.2. Financial Performance
- 9.4.3.3. Product Benchmarking
- 9.4.3.4. Strategic Initiatives
- 9.4.4. Everlaw, Inc.
- 9.4.4.1. Participant's Overview
- 9.4.4.2. Financial Performance
- 9.4.4.3. Product Benchmarking
- 9.4.4.4. Strategic Initiatives
- 9.4.5. Filevine, Inc.
- 9.4.5.1. Participant's Overview
- 9.4.5.2. Financial Performance
- 9.4.5.3. Product Benchmarking
- 9.4.5.4. Strategic Initiatives
- 9.4.6. IBM Corporation
- 9.4.6.1. Participant's Overview
- 9.4.6.2. Financial Performance
- 9.4.6.3. Product Benchmarking
- 9.4.6.4. Strategic Initiatives
- 9.4.7. Icertis, Inc.
- 9.4.7.1. Participant's Overview
- 9.4.7.2. Financial Performance
- 9.4.7.3. Product Benchmarking
- 9.4.7.4. Strategic Initiatives
- 9.4.8. Knovos LLC
- 9.4.8.1. Participant's Overview
- 9.4.8.2. Financial Performance
- 9.4.8.3. Product Benchmarking
- 9.4.8.4. Strategic Initiatives
- 9.4.9. LegalSifter
- 9.4.9.1. Participant's Overview
- 9.4.9.2. Financial Performance
- 9.4.9.3. Product Benchmarking
- 9.4.9.4. Strategic Initiatives
- 9.4.10. LexisNexis
- 9.4.10.1. Participant's Overview
- 9.4.10.2. Financial Performance
- 9.4.10.3. Product Benchmarking
- 9.4.10.4. Strategic Initiatives
- 9.4.11. Luminance Technologies Ltd.
- 9.4.11.1. Participant's Overview
- 9.4.11.2. Financial Performance
- 9.4.11.3. Product Benchmarking
- 9.4.11.4. Strategic Initiatives
- 9.4.12. LAWYAW (Mystacks, Inc.)
- 9.4.12.1. Participant's Overview
- 9.4.12.2. Financial Performance
- 9.4.12.3. Product Benchmarking
- 9.4.12.4. Strategic Initiatives
- 9.4.13. Neota Logic Inc.
- 9.4.13.1. Participant's Overview
- 9.4.13.2. Financial Performance
- 9.4.13.3. Product Benchmarking
- 9.4.13.4. Strategic Initiatives
- 9.4.14. Open Text Corporation
- 9.4.14.1. Participant's Overview
- 9.4.14.2. Financial Performance
- 9.4.14.3. Product Benchmarking
- 9.4.14.4. Strategic Initiatives
- 9.4.15. Practice Insight Pty Ltd (WiseTime)
- 9.4.15.1. Participant's Overview
- 9.4.15.2. Financial Performance
- 9.4.15.3. Product Benchmarking
- 9.4.15.4. Strategic Initiatives
- 9.4.16. Themis Solutions Inc. (Clio)
- 9.4.16.1. Participant's Overview
- 9.4.16.2. Financial Performance
- 9.4.16.3. Product Benchmarking
- 9.4.16.4. Strategic Initiatives
- 9.4.17. Thomson Reuters Corporation
- 9.4.17.1. Participant's Overview
- 9.4.17.2. Financial Performance
- 9.4.17.3. Product Benchmarking
- 9.4.17.4. Strategic Initiatives
- 9.4.18. TimeSolv Corporation
- 9.4.18.1. Participant's Overview
- 9.4.18.2. Financial Performance
- 9.4.18.3. Product Benchmarking
- 9.4.18.4. Strategic Initiatives
- 9.4.19. Veritone, Inc.
- 9.4.19.1. Participant's Overview
- 9.4.19.2. Financial Performance
- 9.4.19.3. Product Benchmarking
- 9.4.19.4. Strategic Initiatives