In 2021, the impact of legal tech on the global economy equated to around 127.7 billion U.S. dollars, with forecasts suggesting that this will rise to over 225 billion U.S. dollars by 2027, growing at a compound annual growth rate (CAGR) of 9.92 percent for the time period between 2021 and 2027.
Legal tech economic impact worldwide from 2021 to 2027
(in billion U.S. dollars)
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Economic impact in billion U.S. dollars
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Legal tech, or LawTech, refers to the use of technology and software to provide legal services and support the legal industry.
Out of scope: specific HR-services (HR-tech), and software for purely archiving/searching legal documents or contracts (legal-software).
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Statista. (August 10, 2022). Legal tech economic impact worldwide from 2021 to 2027 (in billion U.S. dollars) [Graph]. In Statista. Retrieved June 18, 2024, from https://www.statista.com/statistics/1155938/legal-tech-economic-impact-worldwide/
Statista. "Legal tech economic impact worldwide from 2021 to 2027 (in billion U.S. dollars)." Chart. August 10, 2022. Statista. Accessed June 18, 2024. https://www.statista.com/statistics/1155938/legal-tech-economic-impact-worldwide/
Statista. (2022). Legal tech economic impact worldwide from 2021 to 2027 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: June 18, 2024. https://www.statista.com/statistics/1155938/legal-tech-economic-impact-worldwide/
Statista. "Legal Tech Economic Impact Worldwide from 2021 to 2027 (in Billion U.S. Dollars)." Statista, Statista Inc., 10 Aug 2022, https://www.statista.com/statistics/1155938/legal-tech-economic-impact-worldwide/
Statista, Legal tech economic impact worldwide from 2021 to 2027 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1155938/legal-tech-economic-impact-worldwide/ (last visited June 18, 2024)
Legal tech economic impact worldwide from 2021 to 2027 (in billion U.S. dollars) [Graph], Statista, August 10, 2022. [Online]. Available: https://www.statista.com/statistics/1155938/legal-tech-economic-impact-worldwide/