A recent report published by Infinium Global Research on legal process outsourcing market provides in depth analysis of segments and sub-segments in global as well as regional markets of legal process outsourcing market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional markets of legal process outsourcing over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global legal process outsourcing market. According to report the global legal process outsourcing market is projected to grow at a CAGR of 34.5% over the forecast period of 2018 - 2024.
Favorable government policies are one of the major factors driving the growth of the global legal process outsourcing market. Additionally, E-discovery is the most popular platform being organized in the LPO industry while litigation support, intellectual property support, contract drafting and review are among other major services being offered. However, security concerns regarding ethical codes and illegal practice of laws are the major factors restraining the growth of the market. Moreover, the integration of predictive coding and offering hybrid service delivery model, that is combined onshore and offshore legal process outsourcing. The major legal areas which law firms cover are commercial laws, banking laws, general corporate laws, civil rights and liberties, intellectual property laws, international business laws, criminal defense, financing and tax laws are providing several growth opportunities for the key players in the global legal process outsourcing market.
The report on global legal process outsourcing market covers segments such as location and service. The location segments include offshore outsourcing and on-shore outsourcing. On the basis of service the global legal process outsourcing market is categorized into review and management, e-discovery, patent support, contract drafting, compliance assistance, litigation support and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016 – 2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia and among others. Moreover, European region covers countries such as Germany, UK, France, Spain, and rest of Europe. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018 - 2024.
The report provides profiles of the companies in the global legal process outsourcing market such as, Exigent, Integreon Managed Solutions Inc, Infosys Ltd, Clutch Group, Evalueserve, Lexsphere Pvt. Ltd, Cobra Legal Solutions LLC, Clairvolex, Legal Advantage LLC, and CPA Global Ltd.
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