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In 2021, the legaltech 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.
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Every lawyer needs a comprehensive, agile tech stack to run an efficient legal practice, but with legaltech advancing faster than ever before, it’s easy to get overwhelmed by all the options. (By By 2027, experts expect the industry to reach a 2.2 Wait, what is a tech stack? . Let’s take a step back.
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