Legal Process Outsourcing Market .pdf
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Legal Process Outsourcing Market to grow at 35% CAGR
from 2017 to 2024: Global Market Insights Inc.
Legal Process Outsourcing Industry analysis is covered in this latest research report
that aims to help those taking daily business decisions by providing market trends
information, competitive landscape scenario, forecasts and more.
Legal Process Outsourcing (LPO) Market is set to undergo a rapid evolution in the
next seven years. The industry which was valued USD 3 billion in 2016, is slated to
record a massive revenue of USD 40 billion by 2024. Studies show that LPO market
has created a paradigm shift in the business model of the firms by changing their way
of conducting ongoing legal work. Legal process outsourcing is a core strategy that is
widely adopted by both government and private entities. Rapid increase in the legal
proceeding costs has led the companies to outsource these services via LPO services.
Cost cutting is one of the prime factors driving the LPO industry trends.
The swift expansion of Legal process outsourcing market can be majorly attributed to
its wide end service spectrum which includes E-discovery, patent support, contract
drafting, review & management, compliance assistance, and litigation support. Ediscovery service market is set to record a shooting CAGR of 40% over 2017-2024.
Increasing deployment of digital systems in the businesses is the major factor that is
influencing the market trend. Outsourcing the electronic documents that are produced
by these digital systems and fetching the meaningful information out of it is actually a
troublesome job for the in-house legal department. These firms instead integrate their
business model with LPO which considerably reduce their time and cost. Growing
inclination toward legal research and IP monitoring for cost effectivity is providing
significant growth opportunity to patent support services of LPO market.
Onshore based legal process outsourcing industry is gaining a popularity over offshore
based. The credit to this fact can be given to the shared regulatory framework on which
onshore LPO works. Onshore LPO industry is anticipated to generate commendable
revenue, driven by the adoption rate by organizations where there is an interconnected business model. i.e. the firms which work conjointly with companies that
belong to the same country.
Europe is one region which holds a prominent position in the global legal process
outsourcing market particularly from onshore services. Increasing European
Corporations’ preference for onshore services along with strict protective laws
imposed by EU is catering the onshore LPO market in Europe. On the other hand, this
region has comparatively lesser contribution toward the offshore legal process
outsourcing market. With the growing concerns related to the legal expenses,
corporate firms of European countries are proactively outsourcing their legal
proceeding through professionals via LPO.
U.S. LPO market size, by location, 2016 & 2024 (USD Million)
Browse key industry insights spread across 120 pages with 67 market data tables &
20 figures & charts from the report, “Legal Process Outsourcing (LPO) Market Size
By Service (Contract Drafting, Compliance Assistance, E-Discovery, Review &
Management, Patent Support, Litigation Support), By Location (Offshore,
Onshore), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany,
UK, Italy, France, Spain, Poland, Czech Republic, China, India, Japan, South
Korea, Australia, Philippines, Brazil, Mexico, South Africa), Growth Potential,
Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along
with the table of contents:
Countries like India, Philippines, and South Africa are witnessing an expanding
offshore legal process outsourcing market. India market will prominently grow in the
coming seven years. Favorable government initiatives such as FDI (foreign direct
investment) is encouraging huge investments in these regions. Philippines legal
process outsourcing industry share will witness considerable gains over the coming
years. The growth can be attributed to this region being regarded as one of the most
favorable offshore LPO destinations, owing to the low legal costs and strong
infrastructure in this region.
With key players of the market focusing on acquiring renowned certifications like ISO
9001, and ISO 27001, the legal process outsourcing industry value in the next few
years is anticipated to be commendable. As per an estimation given by Global Market
Insights, Inc, Legal process outsourcing industry is projected to register a phenomenal
CAGR of 35% over 2016-2024. Some of the prominent LPO industry participants
include Integreon, Pangea3, QuisLex, Mindcrest, and United Lex.
Industry Insights of Legal Process Outsourcing Market:
3.1. Industry segmentation
3.2. Industry growth landscape, 2013 - 2024
3.3. Industry ecosystem
3.3.1. Vendor matrix
3.4. Technological & innovation landscape
3.4.1. Evolution of LPO
LPO vs BPO
Technology Assisted Review (TAR)
Artificial Intelligence (AI)
Automated Meta-Data Contract Abstraction
3.5. Regulatory landscape
3.5.1. SRA Code of Conduct 2011
The Limited Liability Partnership Act, 2008
Data Protection Act 1998 (DPA).
EU Data Protection Directive (Directive 95/46/EC)
Information Technology Act, 2000
ISO 9001 Certification Achieved for Quality Management System
3.6. Outsourcing industry landscape
3.6.1. North America
3.7. Cost savings overview
3.8. Industry impact forces
3.8.1. Growth drivers
Industry pitfalls & challenges
3.9. Growth potential analysis
3.9.1. Business models
Competitive landscape, 2016
3.11.1. Strategy dashboard
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy and
Corporate Sales, USA
Global Market Insights, Inc.
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