Global LegalTech Artificial Intelligence (AI) Market: Introduction Technology companies in the legal sector are known as LegalTech companies. They provide software and tech-enabled services to the legal sector, businesses, and consumers. Artificial Intelligence (AI) in LegalTech is widely used for several applications. Companies are using machine learning and natural language processing technologies and developing software to cater to diverse applications in the legal technology sector. Law firms invest significant amounts of time in reviewing contracts, which can be done in less time without compromising on quality with the help of Artificial Intelligence. The effects of Corona virus has directly influenced the growth of the market. As a result of the corona virus lockout, the bulk of law firms businesses closed, which significantly hampered the market for legal-tech artificial intelligence solutions. Get Sample Copy: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=76954 Global LegalTech Artificial Intelligence (AI) Market: Dynamics 
Increasing demand for AI based Solution. o
AI-powered software improves the efficiency of document review and analysis. Companies such as ROSS Intelligence provide Artificial Intelligence software to help review and analyze legal documents with the help of natural language processing technology. Artificial Intelligence has also proved to be impactful in legal analytics, legal research, due diligence, and eDiscovery. Legal analytics helps in sorting through large amounts of data to find trends of value to attorneys. Divorce procedures take more than a year’s time. However, the use of Artificial Intelligence technology selfguides clients to divorce solutions in lesser time. Artificial Intelligence has begun to transform the legal sector and is augmenting what humans do, allowing them to work on different tasks such as advising, negotiating deals, etc.
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A few products in the LegalTech Artificial Intelligence market are niche, while others are more generic AI solutions. Companies such as IBM Corporation and Zero focus on legal analytics. Other companies such as Apttus Corporation and iManage focus on offering contract management solutions. The LegalTech Artificial Intelligence market is not mature enough. Research is still ongoing for identifying the use of legal tech Artificial Intelligence in different applications and its impact on the legal sector. The humanlike functions performed by Artificial Intelligence software such as learning, decision making, and planning drives demand for it. Chatbots are also drawing attention in the legal sector and are expected to become a trend in the market. Artificial Intelligence is helping lawyers perform tasks efficiently and in time. However, it is not expected to replace lawyers in the future. Nevertheless, lawyers need to focus on attaining different skills to work alongside AI technology.
Grab an exclusive PDF Brochure of this report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=76954 North America Led the Global Market in 2019 
Based on region, the global LegalTech Artificial Intelligence (AI) market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The U.S. and the U.K. are expected to be prominent countries of the LegalTech Artificial Intelligence market.
North America accounts for a dominant share of the LegalTech Artificial Intelligence market as a large number of LegalTech companies are entering the Artificial Intelligence space.
Key Players Operating in the Global Market Key players operating in the global LegalTech Artificial Intelligence (AI) market are listed below:
ROSS Intelligence
IBM Corporation
Casetext Inc.
LawGeex
Lex Machina, Inc.
Kira Inc.
FiscalNote
Luminance Technologies Ltd.
Apttus Corporation
Catalyst Repository Systems
Global LegalTech Artificial Intelligence (AI) Market: Research Scope Global LegalTech Artificial Intelligence (AI) Market, by Component
Software
Services
Global LegalTech Artificial Intelligence (AI) Market, by Application
Legal analytics
Legal research
eDiscovery
Contract management
e-billing
Prediction technology
Others
Global LegalTech Artificial Intelligence (AI) Market, by End-user
Law Firms
Corporations
Legal Service Providers
Global LegalTech Artificial Intelligence (AI) Market, by Region
North America o
U.S.
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Canada
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Rest of North America
Europe o
Germany
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France
o
U.K.
o
Italy
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Spain
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Russia
o
Rest of Europe
Asia Pacific o
China
o
Japan
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India
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Australia
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Rest of Asia Pacific
South America o
Brazil
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Rest of South America
Middle East & Africa o
GCC
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South Africa
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Rest of Middle East & Africa
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment. The following regional segments are covered comprehensively:
North America
Asia Pacific
Europe
Latin America
The Middle East and Africa
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