Legal Process Outsourcing Market is Projected to Grow At A CAGR of 35% by 2024; Demand for Onshore Services to Grow At High Pace

The onshore Legal Process Outsourcing Market is expected to gain pace over the forecast time span owing to the speed and safety advantages associated with them. These platforms provide sharing of a regulatory framework to ensure the streamlining of business processes. The growing trend in the onshore Legal Process Outsourcing Industry is the contract and partnership strategies adopted by customers and organizations across the world will propel the industry growth. For instance, Infosys expanded its legal outsourcing business operations to Manila, the Philippines along with enhanced onshore location service benefits.

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Growing stringency of government regulations in several countries that mandate the companies to comply with the industry standards in propelling the Legal Process Outsourcing Market growth. Government organizations regulate companies to follow stringent cyber laws, tax laws, intellectual property laws, and several other legal parameters. Major companies outsource these services at low costs to comply with the governmental norms, further creating several growth opportunities for the Legal Process Outsourcing Industry. The sector has witnessed major developments in the Asia Pacific region owing to the favorable initiatives for creating employment opportunities in the legal sector.

E-discovery service segment in the Legal Process Outsourcing Market is predicted to gain traction over the forecast period. This growth is attributed to the rapid adoption of internet activities and serving customers across the globe through data-based applications. These services are mainly procured by multifunctional organizations in their legal proceedings that include government investigations and litigations. Several advantages associated with the e-discovery service platform include innovative discovery processes with increased accuracy and easier conversion of documents into several file formats.

Regionally, Europe witnesses a significant command over the global LPO industry. Strict regulatory norms by EU to promote onshore services along with growing European Corporations’ inclination toward this service is increasing the Europe onshore service market demand. The growing popularity of onshore based Legal Process Outsourcing Market over offshore based can be credited to the shared regulatory structure on which this onshore based system works.

While these mandatory roll outs in Europe is having a negative impact on the regional offshore service trend, on the other hand countries like Philippines, India, South Africa are observing a huge demand for offshore Legal Process Outsourcing Market. India legal process outsourcing industry is expected to grow exceptionally in the years ahead, driven by the easy and affordable availability of lawyers coupled with favorable governments initiatives such as FDI across the region.

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The key players in the Legal Process Outsourcing Market include UnitedLex, Integreon, Inc., Pangea3, Bodhi Global Services, ADEC Group, CPA Global, Exigent, Infosys Limited, Legal Advantage, Quislex, Mindcrest, and LexSphere. The companies are focused on providing enhanced and efficient legal services such as compliance management and litigations to the foreign clients. Many organizations develop collaborations and partnerships to strengthen their service portfolio and cover a large customer base.

Some Points From Table Of Content: –

Chapter 4. Legal Process Outsourcing Market, By Service

4.1. Global Legal Process Outsourcing 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

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