Legal technology market expected to reach $60.04 billion by 2032 due to AI and cloud growth.

From GlobeNewswire: 2025-05-20 10:00:00

The Legal Technology Market was valued at USD 26.89 billion in 2023, expected to reach USD 60.04 billion by 2032 with a CAGR of 9.4%. Key players include Icertis, DocuSign, and Clio. The U.S. legal tech market is growing due to AI adoption, cloud technology, and increased demand for legal services.

The software segment holds the largest share in the Legal Technology Market, with AI and cloud-based solutions driving growth. Services segment grows fastest at 10.35% CAGR, with demand for consulting and implementation services rising. Contract Lifecycle Management leads the market, while the Analytics segment is growing rapidly.

Law firms dominate the Legal Technology Market with AI-powered solutions for legal research and practice management. Corporate legal departments are expected to grow at a 10.31% CAGR, driven by regulatory complexity. North America leads the market, while Asia Pacific shows rapid growth. Key legal tech players like DocuSign, Clio, LexisNexis, and Everlaw develop automated compliance monitoring and contract lifecycle management solutions, boosting efficiency and cutting costs. The Asia Pacific region is set to lead the Legal Technology Market with a projected CAGR of 11.2%, driven by AI-powered legal solutions and government-led automation initiatives.

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