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Global Legal Process Outsourcing (LPO) Market Size to Expand at 30.0% CAGR through 2024

02-05-2019 07:59 AM CET | Media & Telecommunications

Press release from: Market.Biz

Global Legal Process Outsourcing (LPO) Market Size to Expand

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.

Reports Details: https://market.biz/report/global-legal-process-outsourcing-market-gir/154110/

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%.

Get Sample Copy of this Report – https://bit.ly/2GoPqiP

Market Segment by Companies, this report covers
Clutch Group
American Discovery
Amstar Litigation Support
Cobra Legal Solutions
Infosys
Integreon
QuisLex
Cogneesol
CPA Global
Unitedlex
Evalueserve
Elevate Services
Thomson Reuters

For further information on this report, visit – https://bit.ly/2WGi5Wu

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
Individual
Type II

Market Segment by Applications, can be divided into
Commerical
Application 2

Market.Biz has access to the world’s most comprehensive and up-to-date databases in your business sector, including countless market reports that can provide you with valuable data relating to your business. We understand the needs of our clients, and keep our reports updated as market requirement changes.

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