Google searches for "legal technology" have almost doubled over the last five years. The legal tech market is already worth an estimated $18.43B. By 2025, that’s forecast to rise to $25.17B.
In a study by HSBC, 81% of legal firms reported that technology was the most strategically important factor in staying competitive.
And COVID-19 accelerated growth in the sector. In a Luminance report, 65% of respondents said legal tech had made remote work easier. And 40% used new legal technology for the first time following the outbreak of the pandemic.