Legal tech market

Legal tech refers to the use of technology software and solutions to support the legal industry and provide legal services. In an industry often considered dated and criticized for its use of traditional systems and methods, the development of the legal tech sector has revolutionized the practice of law worldwide. In 2020, the global legal tech market was valued at 17.6 billion U.S. dollars, with the market set to increase further in the coming years.

An array of technologies are being deployed to provide legal services at a cheaper, more efficient, and improved standard. Artificial intelligence (AI), natural language processing (NLP), and robotic process automation (RPA) are just some of the tools used to facilitate this, both in business-to-business (B2B) and business-to-consumer (B2C) settings.

This DossierPlus provides an overview of the legal tech sector worldwide, identifying the actors involved in driving its growth and continued investment. Law firms, in-house legal departments, alternative providers of legal services, and startups all feature. The impact of legal tech is also addressed, notably its effect on the global economy, the wider labor market, and education.