Summary

As the world continues to deal with COVID-19, economies are moving into recession, under multiple adverse factors, the GDP of European and American countries in the second quarter suffered a historical contraction. At an annualized rate, the US GDP fell by 32.9% month on month, while the overall GDP of the euro zone fell by 12.1%.

Moreover, the economic prospects of Europe and the United States in the third quarter under the epidemic situation are hardly optimistic. The resumption of work and production not only brought economic data back, but also triggered a rebound in the epidemic situation. At present, the United States is still the 'epicenter' of the global epidemic. The total number of confirmed cases has exceeded 4.8 million, and the epidemic situation in some European countries has also rebounded. Affected by this, more than 20 states in the United States have announced the suspension or withdrawal of part of the economic restart plan. Britain and Italy have also decided to extend the state of emergency. The rebound of the epidemic situation has posed considerable risks to the economic prospects of Europe and the United States.
In the second quarter of this year, US GDP shrank by 9.5% on a month on month basis, or 32.9% at an annual rate, the largest decline since the 1940s. Data show that the sharp decline in personal consumption is the main drag on the U.S. GDP growth in the second quarter.
Compared with the United States, Europe's economic contraction in the second quarter was smaller, but it was also the lowest on record, with Germany and France contracting more than 10%. According to the data released by the Federal Bureau of statistics, Germany's GDP fell by 10.1% in the second quarter after adjusting for prices, seasons and working days, the largest decline since the quarterly economic data were available in 1970.
Thanks to the effective control and policy support of the new epidemic, China's economy rebounded sharply in the second quarter. The growth rate of manufacturing industry, which accounted for about 28% of GDP, rebounded sharply to 4.4% from the negative value in the first quarter. Chinese original equipment manufacturers (OEMs) and suppliers are ramping up production. And there are increased investments in digital footprints in manufacturing. OEMs in other parts of the world are offering incentives to drive sales. XYZResearch published a report for global Legal Tech Artificial Intelligence market in this environment.

In terms of revenue, this research report indicated that the global Legal Tech Artificial Intelligence market was valued at USD XXX million in 2019, and it is expected to reach a value of USD XXX million by 2026, at a CAGR of XX % over the forecast period 2021-2026. Correspondingly, the forecast analysis of Legal Tech Artificial Intelligence industry comprises of China, USA, Japan, India, Korea and South America, with the production and revenue data in each of the sub-segments.

The Blue J Legal aims at producing XX Legal Tech Artificial Intelligence in 2020, with XX % production to take place in global market, Casetext Inc. accounts for a volume share of XX %.

Regional Segmentation (Value; Revenue, USD Million, 2015 - 2026) of Legal Tech Artificial Intelligence Market by XYZResearch Include
China
EU
USA
Japan
India
Southeast Asia
South America
Competitive Analysis; Who are the Major Players in Legal Tech Artificial Intelligence Market?
Blue J Legal
Casetext Inc.
Catalyst Repository Systems
eBREVIA
Everlaw
FiscalNote
Judicata
Justia
Knomos Knowledge Management Inc.
Lawgeex
Legal Robot
LEVERTON
LexMachina
Loom Analytics
Luminance Technologies Ltd.
Ravel Law
ROSS
vLex.com
...
Major Type of Legal Tech Artificial Intelligence Covered in XYZResearch report:
Document Management System
E-Discovery
Practice and Case Management
E-Billing
Contract Management
IP-Management
Legal Research
Legal Analytics
Cyber Security
Others
Application Segments Covered in XYZResearch Market
Lawyers
Clients
Application 3

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