Developments in the LegalTech industry differ across countries. While the U.S. is very advanced with more than 1'000 LegalTech companies, Europe clearly lags behind.

Germany has around 15 LegalTech providers currently. The LegalTech market sees rapid growth. In a recent study, Mitratech estimated that corporate law departments and law firms currently spend $ 3 billion on LegalTech solutions (excluding legal research) and that the addressable market in the U.S. is $ 16 billion. It would be impossible here to give a complete market overview. The companies represented in this market are a diverse group in terms of whom they serve, what technologies they apply and how innovative their products and services are. In the following, we grouped companies together in a few clusters which might have the greatest impact on the way legal services are rendered in the future.

5.1