legal-process-outsourcing-lpo-market

Legal Process Outsourcing (LPO) Market By Location (Offshore, Onshore), By Engagement Model (On-demand Services, End-to-end Services), By Services (Contract Management, Compliance Assistance, E-discovery, Litigation Support, Patent Support, Others (Legal Research, Intellectual Property Services, Bookkeeping & Billing etc.)) - Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

03 Nov 2022 Format PDF icon PPT icon XLS icon Request Sample

The third-party services industry is growing rapidly with organizations recognizing the perks of outsourcing set of activities which are not part of their core business. Legal process outsourcing (LPO) is a practice wherein a company, organization or law firm procures legal services from an external service provider. LPO involves outsourcing numerous legal services such as bookkeeping & billing, contract management, general litigation support services, legal researches and legal transcription among others legal services. Adoption of LPO services enable completion of time-consuming legal work with high efficiency and reduced costs. Outsourcing legal processes can help companies save more than 50% of the total costs required for in-house legal processes. As a result, LPO market is set to demonstrate robust growth over the forecast period.

With constant rise in service industry, the outsourcing services has demonstrated immense growth over the period of time. Rising legal expenses has made corporate firms more inclined towards outsourcing certain legal practices in order to minimize overall cost. For instance, in 2009, Rio Tinto plc., a global mining firm, awarded a contract to India-based LPO provider CPA Global for conducting its legal processes. With effect of this contract, Rio Tinto plc. managed to save US$ 8 Mn per year which accounts for nearly 1/5th of the company’s legal costs. With growing offshore LPO services sector, the demand for legal process outsourcing is bound to remain strong over the forecast period. Offshore outsourcing accounted for the largest share in the overall LPO market. Advancing communication technology has enabled higher value legal work as well as legal support services to be outsourced offshore, making it  most prominent segment. On the other hand, significant number of companies employing onshore resources to ensure more accurate solution facilitating deep customer understanding.

India is leading the LPO market as it is the most common location for LPO service providers. Most LPO providers reduce the cost for their clients by locating their human resources in countries such as India, Philippines and China among others having cheaper resources. Significant revenue share of offshore LPO in India, Philippines and China is generated from the companies based out of North America and Europe. Increasing preeminence on the provision of law services is expected to escalate the demand LPO services in Asia Pacific region over the following years. On the other hand, the U.S. and the U.K.-based clients also demand onshore outsourcing for deep understanding of process, thereby driving the demand for onshore LPO market.

Key players identified in global legal process outsourcing (LPO) market include but are not limited to:

Clairvolex, Clutch Group, Cobra Legal Solutions LLC, CPA Global Ltd., Evalueserve, Exigent, Infosys Ltd., Integreon Managed Solutions Inc., Legal Advantage LLC, Lex Outsourcing, Lexplosion Solutions Pvt. Ltd., Lexsphere Pvt. Ltd., Mindcrest Inc., Pangea3, QuisLex Inc., UnitedLex and Others.

Recent developments

January 2020: Polsinelli partnered with UnitedLex to launch a new Litigation Solution Center called PolsinelliPLUS. PolsinelliPLUS will expand upon the firm’s current litigation support services to provide attorneys and clients with the best quality eDiscovery and investigative support services.

October 2019: alternative legal services provider (ALSP) Integreon partnered with Seal Software, to enhance the company’s global managed services contract lifecycle management offering with Seal’s artificial intelligence (AI) contract analytics technology.

January 2019: Elevate Acquired Halebury, to expand the Flexible Lawyering Platform and Resourcing Capacity. Halebury would operate as an Elevate business, and would also retain its team.

November 2018: Global law company Elevate announced the acquisition of enterprise legal AI technology and consulting firm LexPredict. 

September 2019: Global legal services provider Integreon launched a Cyber Incident Response (CIR) Service to help law firm and corporate security professionals accurately deal with cybersecurity incidents.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Legal Process Outsourcing (LPO) market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Legal Process Outsourcing (LPO) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Location
  • Offshore
  • Onshore

Engagement Model
  • On-demand Services
  • End-to-end Services

Services
  • Contract Management
  • Compliance Assistance
  • E-discovery
  • Litigation Support
  • Patent Support
  • Others (Legal Research, Intellectual Property Services, Bookkeeping & Billing etc.)

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Legal Process Outsourcing (LPO) market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Legal Process Outsourcing (LPO) market?
  • Which is the largest regional market for Legal Process Outsourcing (LPO) market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Legal Process Outsourcing (LPO) market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Legal Process Outsourcing (LPO) market worldwide?
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