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Gartner Predicts the Global Legal Tech Market Will Reach $50 Billion by 2027 as a Result of GenAI

Legal Tech Blog

The global legal technology market has grown significantly in recent years and generative AI (GenAI) will accelerate this growth, meaning the market will reach $50 billion in value by 2027, according to Gartner, Inc.

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Advantages of Private Cloud Technology for Law Firms’

CaseFox

In 2021, the legal tech market generated revenues of $27.6 billion USD worldwide, with the market forecast to grow at a CAGR of over 4% by 2027. In recent years, law firms turned to private legal cloud technology for enhanced safety and security. In that year, revenues are set to reach 35.6 billion USD.