Legal Outsourcing Market Revenue By Top Key Players: ADEC Group, Bodhi Global Services, Exigent, Evalueserve, Infosys Limited, Integreon Managed Solutions, Legal Advantage, Lexplosion, LexSphere, LEX Outsourcing, Quislex, Pangea3, Mindcrest, UnitedLex

Legal Outsourcing market has gained importance in large scale enterprises which have developed their own in-house legal departments. These enterprises are looking to secure their back-end services for their internal operations. Outsourcing helps these organizations in reducing their efforts, decreasing time consumption and cost saving. However, breach of ethical codes, security concerns and hazards associated with malpractice of law are some of the key factors which may hamper the legal outsourcing market growth.

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Technological advancements in the legal process outsourcing market have contributed towards the significant revenue growth. AI (Artificial Intelligence) is an important tool for extracting valuable data enabling firms to concentrate more on client work through increased bandwidth resulting in efficient delivery of services with high accuracy levels. Rising demand for intelligent technology to obtain information from unstructured data along with understanding and reading it as a human is anticipated to propel the growth of AI in the legal outsourcing market.

Offshore legal process outsourcing services include outsourcing of legal services to LPO organizations in other jurisdictions. Offshore outsourcing is dominating the legal outsourcing market currently. However, onshore LPO 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.

E-discovery services are expected to grow at a significant CAGR of over 40% from 2017 to 2024. Legal outsourcing market growth is attributed to the rapidly growing usage of digital systems by businesses and outsourcing of electronic documents which contain an enormous amount of data and meta-data. For identifying and generating this information often proves to be troublesome for the in-house legal department. These operations aid in reducing the time consumed and are cost-effective.

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The Asia Pacific legal outsourcing market 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 outsourcing market share is expected to increase owing to declining cost of legal services along with good infrastructure.

The onshore legal outsourcing market size will flourish over the forecast timeframe. This is due to rising demand from various law firms and European corporations’ inclination towards services to be provided onshore, rather than offshore. Increasing operational cost in South Africa and India coupled with altering European Union (EU) data protection laws are also limiting the types of services which can be offshored which is further escalating the demand for onshore services.

legal outsourcing market participants in legal process outsourcing (LPO) market include ADEC Group, Bodhi Global Services, Clairvolex, Clutch Group, Cobra Legal Solutions, CPA Global Ltd, Epson Electronics America, Inc., Exigent, Evalueserve, Infosys Limited, Integreon Managed Solutions, Legal Advantage, Lexplosion Solutions Pvt. Ltd., LexSphere, LEX Outsourcing, Quislex, Pangea3, Mindcrest and UnitedLex.
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