A new market study, titled “ Global Legal Process Outsourcing (LPO) Market 2019 by Company, Regions, Type and Application, Fore…October 22, 2020
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.
Scope of the Report:
The onshore legal process outsourcing market is anticipated to witness high growth over the future, as it is considered a comparatively safer alternative in comparison to outsourcing offshore. It offers benefits such as shared regulatory framework, which streamlines the business processes. It is a profitable option for organizations that desire working together with companies within the same country. Furthermore, subcontracting in the same country also delivers advantages such as shared regulatory framework.
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.
The global Legal Process Outsourcing (LPO) market is valued at 4550 million USD in 2018 and is expected to reach 24100 million USD by the end of 2024, growing at a CAGR of 32.0% between 2019 and 2024.
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 2019 and will be xx million USD in 2024, with a CAGR of xx%.
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.Market Segment by Companies, this report covers
Cobra Legal Solutions
Amstar Litigation Support
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
Market Segment by Applications, can be divided into
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