The North America Legal Technology Market would witness market growth of 8.7% CAGR during the forecast period (2023-2030).
A management platform tailored to the needs of lawyers can be provided by legal technology. Enterprise resource planning (ERP) solutions or management platforms tailored exclusively for lawyers are created with their needs and expectations in mind using legal technology. This makes it possible for legal departments at businesses and law firms to function more effectively and smoothly. Many technological solutions, including court hearings, client meetings, document automation, online case filing, and automated litigation administration, will become increasingly popular over the coming years.
Artificial intelligence (AI) as well as blockchain technology are both undergoing substantial advancements in the legal technology sector. The yearly business investment in artificial intelligence in 2021 was estimated at USD 176.47 billion. AI systems of today are capable of continuous learning. A subset of AI called machine learning can process enormous amounts of text and audio data, find patterns, and perform spectacular predictive modeling feats. AI is capable of locating confidential documents and analyzing contracts to look for omitted clauses, among other things.
Legal technology companies in the USA specialize in providing cutting-edge solutions. The US market is the most dynamic and competitive in the entire region. Additionally, it is projected that the region will adopt new technologies more quickly than other nations. Many firms nationwide are struggling to find brilliant people and keep them on staff. The issue is exacerbated by the 10.4 million employment openings reported by the US Bureau of Labor Statistics in September 2021. To compete in the fiercely competitive market for candidates, many law firms have raised associate salaries and bonuses. Hence, these factors are expediting the implementation of legal technology and thus propel the growth of the regional market.
The US market dominated the North America Legal Technology Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $13,900 million by 2030. The Canada market is anticipated to grow at a CAGR of 11.1% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 10.2% during (2023 - 2030).
Based on Solution, the market is segmented into Software (On-premise and Cloud), and Services. Based on End User, the market is segmented into Law Firms, Corporate Legal Departments, and Others. Based on Type, the market is segmented into Contract Lifecycle Management, E-discovery, Compliance, Practice Management, Document Management, Legal Research, Analytics, Time-Tracking & Billing, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Legal Technology Market is Projected to reach USD 45.1 Billion by 2030, at a CAGR of 9.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Icertis, Inc., DocuSign, Inc., Knovos, LLC, RELX PLC (LexisNexis Risk Solutions, Inc.), Filevine, Inc., Casetext, Inc., ProfitSolv Corporation, Anaqua, Inc. (WiseTime), Paradigm and Everlaw, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Solution
By End User
- Law Firms
- Corporate Legal Departments
- Others
By Type
- Contract Lifecycle Management
- E-discovery
- Compliance
- Practice Management
- Document Management
- Legal Research
- Analytics
- Time-Tracking & Billing
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Icertis, Inc.
- DocuSign, Inc.
- Knovos, LLC
- RELX PLC (LexisNexis Risk Solutions, Inc.)
- Filevine, Inc.
- Casetext, Inc.
- ProfitSolv Corporation
- Anaqua, Inc. (WiseTime)
- Paradigm
- Everlaw, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Legal Technology Market, by Solution
1.4.2 North America Legal Technology Market, by End User
1.4.3 North America Legal Technology Market, by Type
1.4.4 North America Legal Technology Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2022, Mar – 2023, May) Leading Players
Chapter 4. North America Legal Technology Market by Solution
4.1 North America Software Market by Country
4.2 North America Legal Technology Market by Software Type
4.2.1 North America On-premise Market by Country
4.2.2 North America Cloud Market by Country
4.3 North America Services Market by Country
Chapter 5. North America Legal Technology Market by End-user
5.1 North America Law Firms Market by Country
5.2 North America Corporate Legal Departments Market by Country
5.3 North America Others Market by Country
Chapter 6. North America Legal Technology Market by Type
6.1 North America Contract Lifecycle Management Market by Country
6.2 North America E-discovery Market by Country
6.3 North America Compliance Market by Country
6.4 North America Practice Management Market by Country
6.5 North America Document Management Market by Country
6.6 North America Legal Research Market by Country
6.7 North America Analytics Market by Country
6.8 North America Time-Tracking & Billing Market by Country
6.9 North America Others Market by Country
Chapter 7. North America Legal Technology Market by Country
7.1 US Legal Technology Market
7.1.1 US Legal Technology Market by Solution
7.1.1.1 US Legal Technology Market by Software Type
7.1.2 US Legal Technology Market by End-user
7.1.3 US Legal Technology Market by Type
7.2 Canada Legal Technology Market
7.2.1 Canada Legal Technology Market by Solution
7.2.1.1 Canada Legal Technology Market by Software Type
7.2.2 Canada Legal Technology Market by End-user
7.2.3 Canada Legal Technology Market by Type
7.3 Mexico Legal Technology Market
7.3.1 Mexico Legal Technology Market by Solution
7.3.1.1 Mexico Legal Technology Market by Software Type
7.3.2 Mexico Legal Technology Market by End-user
7.3.3 Mexico Legal Technology Market by Type
7.4 Rest of North America Legal Technology Market
7.4.1 Rest of North America Legal Technology Market by Solution
7.4.1.1 Rest of North America Legal Technology Market by Software Type
7.4.2 Rest of North America Legal Technology Market by End-user
7.4.3 Rest of North America Legal Technology Market by Type
Chapter 8. Company Profiles
8.1 Icertis, Inc.
8.1.1 Company Overview
8.1.2 Recent strategies and developments:
8.1.2.1 Partnerships, Collaborations, and Agreements:
8.1.2.2 Product Launches and Product Expansions:
8.2 Docusign, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Acquisition and Mergers:
8.2.5.3 Geographical Expansions:
8.3 Knovos, LLC
8.3.1 Company Overview
8.3.2 Recent strategies and developments:
8.3.2.1 Partnerships, Collaborations, and Agreements:
8.3.2.2 Product Launches and Product Expansions:
8.4 RELX PLC (LexisNexis Risk Solutions, Inc.)
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Recent strategies and developments:
8.4.4.1 Partnerships, Collaborations, and Agreements:
8.4.4.2 Product Launches and Product Expansions:
8.4.4.3 Acquisition and Mergers:
8.5 Filevine, Inc.
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Product Launches and Product Expansions:
8.5.2.2 Acquisition and Mergers:
8.6 Casetext, Inc.
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.2.2 Product Launches and Product Expansions:
8.7 ProfitSolv Corporation
8.7.1 Company Overview
8.8 Anaqua, Inc. (WiseTime)
8.8.1 Company Overview
8.9 Paradigm
8.9.1 Company Overview
8.10. Everlaw, Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Partnerships, Collaborations, and Agreements:
TABLE 1 North America Legal Technology Market, 2019 - 2022, USD Million
TABLE 2 North America Legal Technology Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Legal Technology Market
TABLE 4 Product Launches And Product Expansions– Legal Technology Market
TABLE 5 Acquisition and Mergers– Legal Technology Market
TABLE 6 Geographical Expansions – Legal Technology Market
TABLE 7 North America Legal Technology Market by Solution, 2019 - 2022, USD Million
TABLE 8 North America Legal Technology Market by Solution, 2023 - 2030, USD Million
TABLE 9 North America Software Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Software Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Legal Technology Market by Software Type, 2019 - 2022, USD Million
TABLE 12 North America Legal Technology Market by Software Type, 2023 - 2030, USD Million
TABLE 13 North America On-premise Market by Country, 2019 - 2022, USD Million
TABLE 14 North America On-premise Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Cloud Market by Country, 2019 - 2022, USD Million
TABLE 16 North America Cloud Market by Country, 2023 - 2030, USD Million
TABLE 17 North America Services Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Services Market by Country, 2023 - 2030, USD Million
TABLE 19 North America Legal Technology Market by End-user, 2019 - 2022, USD Million
TABLE 20 North America Legal Technology Market by End-user, 2023 - 2030, USD Million
TABLE 21 North America Law Firms Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Law Firms Market by Country, 2023 - 2030, USD Million
TABLE 23 North America Corporate Legal Departments Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Corporate Legal Departments Market by Country, 2023 - 2030, USD Million
TABLE 25 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 27 North America Legal Technology Market by Type, 2019 - 2022, USD Million
TABLE 28 North America Legal Technology Market by Type, 2023 - 2030, USD Million
TABLE 29 North America Contract Lifecycle Management Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Contract Lifecycle Management Market by Country, 2023 - 2030, USD Million
TABLE 31 North America E-discovery Market by Country, 2019 - 2022, USD Million
TABLE 32 North America E-discovery Market by Country, 2023 - 2030, USD Million
TABLE 33 North America Compliance Market by Country, 2019 - 2022, USD Million
TABLE 34 North America Compliance Market by Country, 2023 - 2030, USD Million
TABLE 35 North America Practice Management Market by Country, 2019 - 2022, USD Million
TABLE 36 North America Practice Management Market by Country, 2023 - 2030, USD Million
TABLE 37 North America Document Management Market by Country, 2019 - 2022, USD Million
TABLE 38 North America Document Management Market by Country, 2023 - 2030, USD Million
TABLE 39 North America Legal Research Market by Country, 2019 - 2022, USD Million
TABLE 40 North America Legal Research Market by Country, 2023 - 2030, USD Million
TABLE 41 North America Analytics Market by Country, 2019 - 2022, USD Million
TABLE 42 North America Analytics Market by Country, 2023 - 2030, USD Million
TABLE 43 North America Time-Tracking & Billing Market by Country, 2019 - 2022, USD Million
TABLE 44 North America Time-Tracking & Billing Market by Country, 2023 - 2030, USD Million
TABLE 45 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 46 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 47 North America Legal Technology Market by Country, 2019 - 2022, USD Million
TABLE 48 North America Legal Technology Market by Country, 2023 - 2030, USD Million
TABLE 49 US Legal Technology Market, 2019 - 2022, USD Million
TABLE 50 US Legal Technology Market, 2023 - 2030, USD Million
TABLE 51 US Legal Technology Market by Solution, 2019 - 2022, USD Million
TABLE 52 US Legal Technology Market by Solution, 2023 - 2030, USD Million
TABLE 53 US Legal Technology Market by Software Type, 2019 - 2022, USD Million
TABLE 54 US Legal Technology Market by Software Type, 2023 - 2030, USD Million
TABLE 55 US Legal Technology Market by End-user, 2019 - 2022, USD Million
TABLE 56 US Legal Technology Market by End-user, 2023 - 2030, USD Million
TABLE 57 US Legal Technology Market by Type, 2019 - 2022, USD Million
TABLE 58 US Legal Technology Market by Type, 2023 - 2030, USD Million
TABLE 59 Canada Legal Technology Market, 2019 - 2022, USD Million
TABLE 60 Canada Legal Technology Market, 2023 - 2030, USD Million
TABLE 61 Canada Legal Technology Market by Solution, 2019 - 2022, USD Million
TABLE 62 Canada Legal Technology Market by Solution, 2023 - 2030, USD Million
TABLE 63 Canada Legal Technology Market by Software Type, 2019 - 2022, USD Million
TABLE 64 Canada Legal Technology Market by Software Type, 2023 - 2030, USD Million
TABLE 65 Canada Legal Technology Market by End-user, 2019 - 2022, USD Million
TABLE 66 Canada Legal Technology Market by End-user, 2023 - 2030, USD Million
TABLE 67 Canada Legal Technology Market by Type, 2019 - 2022, USD Million
TABLE 68 Canada Legal Technology Market by Type, 2023 - 2030, USD Million
TABLE 69 Mexico Legal Technology Market, 2019 - 2022, USD Million
TABLE 70 Mexico Legal Technology Market, 2023 - 2030, USD Million
TABLE 71 Mexico Legal Technology Market by Solution, 2019 - 2022, USD Million
TABLE 72 Mexico Legal Technology Market by Solution, 2023 - 2030, USD Million
TABLE 73 Mexico Legal Technology Market by Software Type, 2019 - 2022, USD Million
TABLE 74 Mexico Legal Technology Market by Software Type, 2023 - 2030, USD Million
TABLE 75 Mexico Legal Technology Market by End-user, 2019 - 2022, USD Million
TABLE 76 Mexico Legal Technology Market by End-user, 2023 - 2030, USD Million
TABLE 77 Mexico Legal Technology Market by Type, 2019 - 2022, USD Million
TABLE 78 Mexico Legal Technology Market by Type, 2023 - 2030, USD Million
TABLE 79 Rest of North America Legal Technology Market, 2019 - 2022, USD Million
TABLE 80 Rest of North America Legal Technology Market, 2023 - 2030, USD Million
TABLE 81 Rest of North America Legal Technology Market by Solution, 2019 - 2022, USD Million
TABLE 82 Rest of North America Legal Technology Market by Solution, 2023 - 2030, USD Million
TABLE 83 Rest of North America Legal Technology Market by Software Type, 2019 - 2022, USD Million
TABLE 84 Rest of North America Legal Technology Market by Software Type, 2023 - 2030, USD Million
TABLE 85 Rest of North America Legal Technology Market by End-user, 2019 - 2022, USD Million
TABLE 86 Rest of North America Legal Technology Market by End-user, 2023 - 2030, USD Million
TABLE 87 Rest of North America Legal Technology Market by Type, 2019 - 2022, USD Million
TABLE 88 Rest of North America Legal Technology Market by Type, 2023 - 2030, USD Million
TABLE 89 Key Information – Icertis, Inc.
TABLE 90 Key information – DOCUSIGN, INC.
TABLE 91 Key Information – Knovos, LLC
TABLE 92 Key Information – RELX PLC
TABLE 93 Key Information – Filevine, Inc.
TABLE 94 Key Information – Casetext, Inc.
TABLE 95 Key Information – ProfitSolv Corporation
TABLE 96 Key Information – Anaqua, Inc.
TABLE 97 Key Information – Paradigm
TABLE 98 Key Information – Everlaw, Inc.
LIST OF FIGURES
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions: 2022, Mar – 2023, May) Leading Players
FIG 5 North America Legal Technology Market share by Solution, 2022
FIG 6 North America Legal Technology Market share by Solution, 2030
FIG 7 North America Legal Technology Market by Solution, 2019 - 2030, USD Million
FIG 8 North America Legal Technology Market share by End-user, 2022
FIG 9 North America Legal Technology Market share by End-user, 2030
FIG 10 North America Legal Technology Market by End-user, 2019 - 2030, USD Million
FIG 11 North America Legal Technology Market share by Type, 2022
FIG 12 North America Legal Technology Market share by Type, 2030
FIG 13 North America Legal Technology Market by Type, 2019 - 2030, USD Million
FIG 14 North America Legal Technology Market share by Country, 2022
FIG 15 North America Legal Technology Market share by Country, 2030
FIG 16 North America Legal Technology Market by Country, 2019 - 2030, USD Million
FIG 17 Recent strategies and developments: Icertis, Inc.
FIG 18 Recent strategies and developments: DocuSign, Inc.
FIG 19 Recent strategies and developments: RELX PLC
FIG 20 Recent strategies and developments: Filevine, Inc.
FIG 21 Recent strategies and developments: Casetext, Inc.