+1-888-308-5802     
News Contact Us

Legal Process Outsourcing Market Outlook 2020: Top key players, and Forecasts 2024

Author : Ronak Bora | Published Date : 2020-08-28 

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. E- discovery 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 market 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 inter-connected business model.  i.e. the firms which work conjointly with companies that belong to the same country.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/179

E-discovery services demand is projected to grow substantially at 40% CAGR owing to increasing use of digital systems by enterprises and outsourcing of e-documents containing crucial data. Companies are focusing on acquiring crucial certificates such as ISO 9001 and 27001 and legal process outsourcing market service providers expedite these processes which helps enterprises to get their work done in lesser cost and time. Patent support service is expected to foresee a significant growth in forecast timeframe, this growth is attributed to increasing inclination towards IP monitoring and cost efficiency.

Offshore legal process outsourcing services include outsourcing of legal services to LPO organizations in other jurisdictions. Offshore outsourcing is dominating the market currently. However, onshore legal process outsourcing market is projected to flourish during the forecast timeline owing to growing demand from law firms and safety benefit that it offers over offshore legal process.

The Asia Pacific industry is expected to witness a significant growth owing to the emergence of countries such as China, India and Philippines as the preferred destinations for outsourcing as well as availability of substantial number of English speaking lawyers and lower fees. Furthermore, the Philippines legal process outsourcing market share is expected to increase owing to declining cost of legal services along with good infrastructure.

Request for customization @ https://www.decresearch.com/roc/179

The players competing in this industry include Axiom Law, UnitedLex Corp., Pangea3 LLC, Elevate Services, QuisLex Inc, Integreon, and Mindcrest Inc. These industry participants are engaged in mergers & acquisitions in order to expand their service portfolio. Customized services along with value additions and pricing strategies are some of the key differentiators that service providers are adopting to capture larger market share.

Table of Contents (ToC) of the report:

Chapter 4. Legal Process Outsourcing Market, By Service

4.1. Global LPO market share by service, 2016 & 2024

4.2. Contract drafting

4.2.1.   Market estimates and forecast, 2013 - 2024

4.2.2.     Market estimates and forecast, by region, 2013 - 2024

4.3. Compliance assistance

4.3.1.   Market estimates and forecast, 2013 - 2024

4.3.2.     Market estimates and forecast, by region, 2013 - 2024

4.4. E-discovery

4.4.1.   Market estimates and forecast, 2013 - 2024

4.4.2.     Market estimates and forecast, by region, 2013 – 2024

4.5. Review & management

4.5.1.   Market estimates and forecast, 2013 - 2024

4.5.2.     Market estimates and forecast, by region, 2013 – 2024

4.6. Patent support

4.6.1.   Market estimates and forecast, 2013 - 2024

4.6.2.     Market estimates and forecast, by region, 2013 – 2024

4.7. Litigation support

4.7.1.   Market estimates and forecast, 2013 - 2024

4.7.2.     Market estimates and forecast, by region, 2013 – 2024

4.8. Others

4.8.1.   Market estimates and forecast, 2013 - 2024

4.8.2.     Market estimates and forecast, by region, 2013 – 2024

Chapter 5. Legal Process Outsourcing Market, By Location

5.1. Global LPO market share by location, 2016 & 2024

5.2. Offshore

5.2.1.   Market estimates and forecast, 2013 - 2024

5.2.2.     Market estimates and forecast, by region, 2013 - 2024

5.3. Onshore

5.3.1.   Market estimates and forecast, 2013 - 2024

5.3.2.     Market estimates and forecast, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/legal-process-outsourcing-lpo-market-size

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

Related News

Histology Equipment Market Outlook 2026 Focus on Emerging Technologies & Regional Analysis

Published Date: 2020-09-18         Author: Ronak Bora

Titled ‘Global Histology Equipment Market Research Report’, the report is complete with an elaborate research undertaken by prominent analysts and a detailed analysis of the global industry place. The study is inclusive of a well-elaborated, extensive scrutiny of this industry alongside ... Read More

Incubator Device Market Outlook By Industry Statistics and Growth Forecast Analysis To 2026

Published Date: 2020-09-18         Author: Ronak Bora

A detailed research study by Global Market Insights, Inc. analyses the incubator device market based on competitive landscape, evolving technologies, current business trends, key industry players, growth pattern, and demand projections by the year 2026. The report also includes an in-depth analysis ... Read More

Kidney Function Tests Market To Observe Strong Development By 2026

Published Date: 2020-09-18         Author: Ronak Bora

This recently added report by Global Market Insights, Inc. on the Kidney Function Tests Market is a detailed analysis of the market sphere and provides details pertaining to Industry Tactics, Evolving Technologies, Key Companies, Growth Rate, Business Competitors, and Forecast by 2026. The report co... Read More

© 2020 Fractovia. All Rights Reserved