Legal Process Outsourcing (LPO) Market 2018 Evolving Technology, Revenue and Applications Forecast 2025

Qyresearchreports include new market research report “Global Legal Process Outsourcing (LPO) Market Size, Status and Forecast 2018-2025”
to its huge collection of research reports.

Legal outsourcing, also known as legal process outsourcing (LPO), refers to the practice of a law firm or corporation obtaining legal support services from an outside law firm or legal support services company (LPO provider). When the LPO provider is based in another country, the practice is called offshoring and involves the practice of outsourcing any activity except those where personal presence or contact is required, e.g. appearances in court and face-to-face negotiations. When the LPO provider is based in the same country, the practice of outsourcing includes agency work and other services requiring a physical presence, such as court appearances. This process is one of the incidents of the larger movement towards outsourcing. The most commonly offered services have been agency work, document review, legal research and writing, drafting of pleadings and briefs, and patent services.

The LPO market size has gained significance in large enterprises, which have their own inhouse counsel and legal departments and is not only limited to law firms. These companies are seeking opportunities to secure their back-end services to provision their internal operations. This is a remarkable shift in the legal process outsourcing market, and determines how essential it is for organizations to evaluate their business processes, and recognize areas they need to outsource operations to confirm costs are minimized and process efficiencies are maximized.

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The offshore LPO market will witness growth owing to the need to outsource legal activities to countries such as India, Philippines, and South Africa. This outsourcing is done due to the presence of large number of efficient lawyers whose pay scales are much lower than the ones in countries such as the U.S.
India legal process outsourcing market size will grow significantly from 2016 to 2024 due to the presence of numerous English speaking lawyers whose incomes are lesser than those of their U.S. based counterparts. Indian service providers have also worked to address the necessary requirements to target UK and U.S. based clients. Favorable government initiatives associated with the LPO market such as Foreign Direct Investment in 100% equity of the firm in LPO / BPO enables foreign companies to establish their subsidiaries as private limited companies with minimum liability over shared investment.

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.

In 2017, the global Legal Process Outsourcing (LPO) market size was 4550 million US$ and it is expected to reach 35900 million US$ by the end of 2025, with a CAGR of 29.5% during 2018-2025.

The key players covered in this study
QuisLex
Unitedlex
American Discovery
Thomson Reuters
Clutch Group
Integreon
CPA Global
Cobra Legal Solutions
Elevate Services
Infosys
Evalueserve
Amstar Litigation Support

Read Comprehensive Overview of Report @ https://www.qyresearchreports.com/report/global-legal-process-outsourcing-lpo-market-size-status-and-forecast-2018-2025.htm

The study objectives of this report are:

To analyze global Legal Process Outsourcing (LPO) status, future forecast, growth opportunity, key market and key players.
To present the Legal Process Outsourcing (LPO) development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.

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