Legal Technology Market Regional Analysis:
APAC Market Insights
Asia Pacific region in legal technology market is set to account for around 40% revenue share by 2035. The growth is attributed to the flourishing machine learning trend and expansion of Artificial Intelligence technology. In 2017, the Asia Pacific region estimated a value of nearly USD 400 million for artificial intelligence.
The market is growing in India owing to the emerging startups as business models. According to a report by CIIE.CO, there has been an investment of USD 55 million made for 650+ legal tech startups present in India in 2022.
The market in China is growing due to the fully active government that focuses on the development of advanced technologies. As per a recent study, the AI sector is valued at USD 34 Billion in 2024.
North American Market Insights
North American region in legal technology market is set to grow substantially through 2035, owing to the leading companies providing legal technology services in this region. According to a recent analysis, the market in North America generated a revenue of nearly USD 11 billion and USD 600 million in B2B and B2C respectively.
The market in the United States is very competitive and adopts technological changes more rapidly than any other nation coupled with comprehensive investment for effective utilization. The investment in Artificial intelligence in 2023 in the United States was USD 67.2 Billion.
The market is growing in Canada due to improved access to justice since legal technology companies simplify and automate routine administrative tasks. Themis Solutions Inc. (Clio) is a Canada-based legal tech service that offers trusted solutions at a fast pace reducing errors.
