Legal Technology Market To Reach $46,767.9 Million By 2030

Legal Technology Market Growth & Trends

The global legal technology market size is anticipated to reach USD 46,767.9 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 10.2% from 2025 to 2030. The need to cope with an upsurge in the volume and complexity of legal information and the demand for meeting the shifting expectations of client/leadership across the legal services industry is driving the expansion of the global legal technology industry.

Businesses increasingly expect their legal teams to deliver strategic, more responsive legal services. In addition, new client expectations and productivity demands have also pressured legal professionals, departments, and firms to move towards legal technology solutions to ensure streamlined workflows. These solutions further simplify contract management and provide more innovative collaboration tools that help in reduced risk and time associated with manual tasks and processes. Additionally, the market players are introducing innovative products to meet demand from various use cases. For instance, in May 2023, LexisNexis launched a beta of its Lexis+ AI, which leverages generative AI to transform legal research and drafts.

Businesses globally continue to face an exponential increase in compulsory legal duties and regulatory criteria. As the organization expands global operations and services, the number of regulations to comply with increases, creating a demand for an integrated approach to legal governance, risk management, and compliance (GRC), consequently driving the global legal technology market.

Legal technology helps legal departments within organizations streamline compliance complexities through solutions such as matter management, policy management, investigations, and reporting and filing, among others.Companies constantly invest in IT infrastructure and automation technologies to maintain regulatory compliance. Furthermore, Over the past several years, e-invoicing has grown in importance due to digitization and modernization of economic transactions.

Legal technology solutions are helping drive productivity and efficiency in research, case management, communications, and more. However, technological systems or software supporting legal-technology processes may be subject to cyberattacks. Also, cyber-attacks are continuously threatening the global legal technology services industry.

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Legal Technology Market Report Highlights

• In terms of solutions, the services segment is estimated to record a substantial growth rate through 2030. The increasing demand for training services to ensure staff education after implementing legal technology is projected to provide significant growth opportunities to the services segment

• In terms of type, the analytics segment is anticipated to grow significantly over the forecast period owing to the rising demand for incorporating data analytics and artificial intelligence to help lawyers and legal professionals make better decisions and streamline their workflow

• In terms of end-user, the law firms segment is expected to record the highest revenue share of the market by 2030. The growth is attributed to the benefits of collaborating with colleagues and clients more efficiently and accessing documents or data from anywhere

• The key market players adopt various strategic initiatives to sustain their position in the market. Additionally, they are integrating various software to enhance their solutions

Legal Technology Market Segmentation

Grand View Research has segmented the global legal technology market based on solution, type, end-user and region:

Legal Technology Solution Outlook (Revenue, USD Million, 2018 - 2030)

• Software

  • .Cloud-based

  • On-Premises

• Services

  • Consulting Services

  • Support Services

  • Others

Legal Technology Type Outlook (Revenue, USD Million, 2018 - 2030)

• E-discovery

• Legal Research

• Practice Management

• Analytics

• Compliance

• Document Management

• Contract Lifecycle Management

• Time-Tracking & Billing

• Others

Legal Technology End User Outlook (Revenue, USD Million, 2018 - 2030)

• Law Firms

• Corporate Legal Departments

• Others

Legal Technology Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

• MEA

  • UAE

  • South Africa

  • Kingdom of Saudi Arabia (KSA)

List Of Key Players in the Legal Technology Market

• Icertis, Inc.

• Filevine Inc.

• DocuSign, Inc.

• Casetext Inc.

• ProfitSolv, LLC

• Knovos, LLC

• Mystacks, Inc.

• Practice Insight Pty Ltd (WiseTime)

• TimeSolv Corporation

• Themis Solutions Inc. (Clio)

• Everlaw, Inc.

• LexisNexis Legal & Professional Company