Legal Process Outsourcing Market to grow at 35% CAGR from 2017 to 2024 - PowerPoint PPT Presentation

About This Presentation

Legal Process Outsourcing Market to grow at 35% CAGR from 2017 to 2024


More Information @ Increasing requirement for efficient legal departments to manage process-oriented and high volume legal work is anticipated to drive the legal process outsourcing market over the forecast timeframe. Rapid increase in the cost of legal proceedings has led the companies to outsource these services. Cost-efficiency is one of the major factors benefitting the LPO market landscape. – PowerPoint PPT presentation

Number of Views:46


Transcript and Presenter's Notes

Title: Legal Process Outsourcing Market to grow at 35% CAGR from 2017 to 2024

Legal Process Outsourcing Market to surpass 40bn
by 2024 Global Market Insights Inc.
Industry Overview
  • 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
  • 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
    inter-connected business model.

  • 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.
  • 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.


Browse Full Market Research Report Of Smart
Sensor Market _at_ http//
Request for a Sample of this Research
report _at_ https//
U.S. LPO market size, by location, 2016 2024
(USD Million)

Industry Coverage
  • 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.

Stay In Touch Website Soci
al Media
Write a Comment
User Comments (0)