The world is going through a rising phase of digitalization, and we can feel its manifestation in every sector. Because of the pandemic, we had no choice but to shift our work and workplaces online.
This only helped in the growth of technology in the legal sector, which already gained significant importance around the 2000s.
With legal tech, anyone can get legal services with the help of artificial intelligence and blockchain technology. With this, tackling legal work becomes more efficient and less time-consuming.
Now more people have easy access to justice. They can even connect to lawyers and professionals readily via online marketplaces.
One recent industry trend is the significant increase in the legal tech budget. We will also see considerable investment in tools that can smoothly manage legal documents and carry out legal procedures efficiently. As cyberattack is a crucial concern nowadays, firms that offer advice on digital protection and cybersecurity are gaining fame.
Legal tech is a vast industry whose market expects a compound annual growth rate of 28% and a revenue of 2.5 billion USD by 2025. Hence, it is only natural for us to be a part of such an industry that can benefit all of us together.