Law firms vs digital disruption: the emergence of legaltech in SEA

Photo: Melinda Gimpel/unsplash

With technology disrupting all walks of life, the legal industry, too, is seeing a growing demand for legaltech and regtech to increase efficiency and lower operational costs.

In Southeast Asia, the e-discovery market, in particular, is poised for strong growth. Based on a 2017 report by US research firm Global Industry Analysts, the worldwide e-discovery market is expected to be worth $11.6 billion by 2020, with much of the growth anticipated to arise from the Asia Pacific. Between 2015 and 2020, the region is expected to have a compound annual growth rate of 22.5 per cent, making it the fastest in the world.

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