Legal Process Outsourcing Market 2020 Growth Projection by Leading Players: UnitedLex, Integreon, Pangea3, Bodhi Global Services, ADEC Group, CPA Global, Exigent, Infosys Limited, Legal Advantage, Quislex, Mindcrest

The remarkable expansion of the legal process outsourcing market is clearly evident from its increasing spectrum of services which has come a long way so far, starting from litigation support, document review, e-recovery to contract drafting, compliance assistance, and patent support. Contract review service segment of the LPO industry is poised to generate a heavy business in the years ahead. The credit of this fact can be given to the huge value these M&As and contracts hold for the company, in which even a slight price trigger if neglected can have a large impact on the entire value chain of the organization.

The swift expansion of Legal process outsourcing market can be majorly attributed to its wide end service spectrum which includes E-discovery, patent support, contract drafting, review & management, compliance assistance, and litigation support. E- discovery service market is set to record a shooting CAGR of 40% by 2024. Increasing deployment of digital systems in the businesses is the major factor that is influencing the market trend. Outsourcing the electronic documents that are produced by these digital systems and fetching the meaningful information out of it is actually a troublesome job for the in-house legal department.

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Europe is one of the major continents actively partaking in the legal process outsourcing market, particularly in the onshore LPO services. The stringent data protection law implications by the EU is lowering the demand for offshore services consequently boosting the onshore LPO market share. The onshore model is also gaining a substantial significance on grounds of it enabling a shared regulatory framework and streamlined business processes. Recently, Herbert Smith Freehills, a renowned legal firm based out of London, U.K., expanded its alternative legal service portfolio by opening a new branch in South Africa which will deal with due-diligence related tasks for the clients.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ADEC Group
2. Bodhi Global Services
3. Clairvolex
4. Clutch Group
5. Cobra Legal Solutions
6. CPA Global Ltd
7. Epson Electronics America Inc.
8. Exigent
9. Evalueserve
10. Infosys Limited
11. Integreon Managed Solutions
12. Legal Advantage

The e-discovery service is also set to offer lucrative avenues for the legal process outsourcing market globally. Digitization, which has established its roots across every industry can be quoted as the major driving factor behind the escalating LPO market trend. The electronic documents produced through digital means in an organization leads to a huge influx of data from which deriving meaningful insights can be a troublesome task for the legal in-house teams. The firms thus align these legal activities to skilled professionals via LPO which is a reasonable and efficient business model. On these grounds, this service is estimated to exhibit heavy gains in the coming seven years with a CAGR estimation of 40% by 2024.

Onshore based legal process outsourcing market is gaining a popularity over offshore based. The credit to this fact can be given to the shared regulatory framework on which onshore LPO works. Onshore LPO industry is anticipated to generate commendable revenue, driven by the adoption rate by organizations where there is an inter-connected business model. i.e. the firms which work conjointly with companies that belong to the same country.

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