Global Legal Process Outsourcing (LPO) Market Key Takeaways by Regions Analysis and Forecast to 2023
Global Legal Process Outsourcing (LPO) Market by Manufacturers, Countries, Type and Application, Forecast to 2023
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Scope of the Report:
This report studies the Legal Process Outsourcing (LPO) market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Legal Process Outsourcing (LPO) market by product type and applications/end industries.
The legal process outsourcing market is growing at a rapid rate due to the growing demand to minimize costs by law firms and corporate legal departments to increase flexibility and expand their in-house capabilities. With the rising concerns related to legal expenses in countries such as the U.S. and UK, corporate firms seek to outsource certain legal proceedings through their legal representatives to cut costs. In addition, cost saving is the major attraction for western firms outsourcing their legal work to countries such as India owing to the affordability, efficiency and availability of skilled personnel.
Industry participants in legal process outsourcing (LPO) market include Clutch Group, American Discovery, Amstar Litigation Support Cobra Legal Solutions, etc. The players are focusing on offering higher-value services such as supporting compliance management. They are expanding their offerings beyond litigation and regulatory investigation support services to contract management to offer varied services to their customers. In addition, these industry participants concentrate on process, people and geographic capability and strategic alliances to gain prominence.
The global Legal Process Outsourcing (LPO) market is valued at 4360 million USD in 2017 and is expected to reach 21000 million USD by the end of 2023, growing at a CAGR of 30.0% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Legal Process Outsourcing (LPO).
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
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Market Segment by Companies, this report covers
Amstar Litigation Support
Cobra Legal Solutions
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Market Segment by Applications, can be divided into
Major Points from Table of Content:
Chapter One: Legal Process Outsourcing (LPO) Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Legal Process Outsourcing (LPO) Market Competition, by Players
Chapter Four: Global Legal Process Outsourcing (LPO) Market Size by Regions
Chapter Five: North America Legal Process Outsourcing (LPO) Revenue by Countries
Chapter Six: Europe Legal Process Outsourcing (LPO) Revenue by Countries
Chapter Seven: Asia-Pacific Legal Process Outsourcing (LPO) Revenue by Countries
Chapter Eight: South America Legal Process Outsourcing (LPO) Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Legal Process Outsourcing (LPO) by Countries
Chapter Ten: Global Legal Process Outsourcing (LPO) Market Segment by Type
Chapter Eleven: Global Legal Process Outsourcing (LPO) Market Segment by Application
Chapter Twelve: Global Legal Process Outsourcing (LPO) Market Size Forecast (2018-2023)
Chapter Thirteen: Research Findings and Conclusion
Chapter Fourteen: Appendix
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In the recent years, consumers have been pushing the downward trend in pricing and this has made corporations struggle for their survival. A growing concern of corporations in this era is increasing legal costs and the efforts to contain this cost have brought about the concept of legal process outsourcing (LPO). Favorable government policies are one of the key factors driving the growth of LPO. Further, the rising awareness among