In addition to this high-level report, we offer a suite of more targeted supplemental reports based on company size, legal department size, and industry. Our goals? The Size of the US Legal Market: Shrinking Piece of a Bigger Pie — an LEI Graphic. To understand the trends impacting the legal technology landscape, the size of the legal technology market, and the growth rates across each segment of that market. Among global regions, western Europe remains a significant contributor, accounting for approximately one of every five technology dollars spent worldwide. The Indian legal market stands to grow to a potential $1.3 billion (Rs. Department size ranges from a single lawyer to over 1,000 staff members in organizations that span from the tens of millions to the hundreds of billions in annual revenue. Despite the size of the U.S. market, the majority of technology spending (67%) occurs beyond its borders. It explores the market size, industry trends, different ways to slice and dice the legal tech market, and case studies on different sub-segments in the industry. It also contains a working database of legal technology companies, both legacy and new entrants. companies in the legal tech space. Topics: Corporate Legal, Law Firms, Peer Monitor, Thomson Reuters In a new graphic, titled “How Big is the US Legal Services Market?” created by Legal Executive Institute, the size of the US legal market is estimated to be about $437 billion currently. Size of the legal services market in the U.S. by category 2019-2020 Law firms in the United States with the highest revenue per lawyer in 2019 Number of lawyers in the U.S. 2007-2020 Several significant mergers and acquisitions also were announced in 2019, another sign of legal tech’s maturation as a market sector. Overall market trends. LONDON, April 24, 2019 (GLOBE NEWSWIRE) -- A report from The Business Research Company shows that the global legal services market size is … Legal technology (legal tech or ‘lawtech’) is playing a huge part in this battle. Of this market value, around $400 million (just over Rs. LEGAL TECHNOLOGY SPEND AT $3 BILLION AND GROWING T his fall, Mitratech commissioned a comprehensive third-party survey of the domestic legal technology landscape. Thomson Reuters Institute January 11, 2016. It is the enabler of the new providers to compete on equal or more favourable terms than the law firms which have been doing the work since the year dot. The study on the LegalTech Artificial Intelligence market presents a comprehensive assessment of economic, social, and policy factors shaping the changing dynamic. Perhaps chief among them: EY’s purchase of legal managed services company Pangea3 for an undisclosed amount. It’s a deal believed by some to be one of the most expensive legal tech buys of all time. 2500 crore) can be attributed to “contentious legal work,” which includes practices of complex litigation and arbitration. The MarketWatch News Department was not involved in the creation of this content. 8,400 crore) by March 2018. We also offer tai- Spending is often correlated with factors such as population, GDP and market maturity. The global LegalTech Artificial Intelligence market is constantly evolving and presenting new avenues to stakeholders.
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