Market Overview:
The global legal outsourcing market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing demand for legal services, globalization, and the need for cost-effective solutions. The offshore segment is expected to grow at a higher CAGR than the onshore segment during the forecast period. By application, the business segment is expected to hold a larger share of the global legal outsourcing market in 2018. However, by 2030, the government segment is projected to be growing at a higher rate and would account for more than one-third of the total market share.
Product Definition:
Legal outsourcing is the process of hiring a third-party company to provide specific legal services. This can include anything from document review to full-scale legal representation. The importance of legal outsourcing lies in its ability to provide cost-effective and high-quality legal services. By leveraging the resources of a third-party company, businesses can save money while still receiving the same level of quality service they would expect from an in-house lawyer.
Offshore:
Offshore is the division of a company that is physically located outside the country or region in which the core business is being conducted. Offshore operations can include various functions such as manufacturing, engineering, and research & development. Outsourcing these activities to low-cost developing countries has been a key strategy of many multinational companies over the past decade and this trend is expected to continue over the forecast period.
Onshore:
Onshore is the outsourcing of legal services to a law firm or legal department within the same country where the service is being performed. For instance, if an American company were to hire a large Indian law firm to perform various tasks, such as document review and corporate counseling, that would be onshore outsourcing. Onshore services are generally provided by top-tier firms with high market shares in their respective regional markets.
Application Insights:
The business application segment accounted for the largest revenue share of over 60% in 2017. The growth can be attributed to the increasing demand from companies to outsource legal activities such as corporate formation, contract negotiations, and dispute resolution. In addition, a rise in cross-border transactions is expected to drive the demand for offshore Legal Outsourcing services over the forecast period.
Offshore legal outsourcing has been gaining traction since past few years owing to its cost-effectiveness and efficiency coupled with high quality standards that are followed by offshore service providers while handling client¢â‚¬â„¢s data or information. Furthermore, an increase in mergers & acquisitions along with expansion projects undertaken by various companies across different industries is anticipated to propel market growth during future years.
Regional Analysis:
Asia Pacific legal outsourcing market is anticipated to witness significant growth over the forecast period. The region’s growth can be attributed to increasing demand for legal services from offshore centers, particularly from China and India. In addition, rising government regulations in various countries are expected to drive the demand for legal services in areas of corporate law, tax law, labor laws and estate planning among others.
China accounted for a share of more than 35% in 2017 owing to presence of large number of offshore centers there such as ZhenFund Management Co., Ltd., H&R Block International LLC and many more. Moreover high availability of low-cost labor force along with easy access to technology has attracted many global service providers toward China which further drives regional market growth.
Growth Factors:
- Increased demand for legal services due to globalization and the growth of businesses.
- The increased use of technology in the delivery of legal services, which has helped to reduce costs and improve efficiency.
- The increasing demand for alternative dispute resolution methods, such as arbitration and mediation, which are often less expensive and faster than traditional litigation proceedings.
- The growing popularity of outsourcing by businesses as a way to reduce costs and improve efficiency.
- The increasing number of countries that are opening their economies to foreign investment, which has led to an increase in the need for legal advice and representation from foreign law firms
Scope Of The Report
Report Attributes
Report Details
Report Title
Legal Outsourcing Market Research Report
By Type
Offshore, Onshore
By Application
Business, Government
By Companies
Clutch Group, American Discovery, Amstar Litigation Support, Cobra Legal Solutions, Infosys, Integreon, QuisLex, Cogneesol, CPA Global, Unitedlex, Evalueserve, Elevate Services, Thomson Reuters
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
169
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Legal Outsourcing Market Report Segments:
The global Legal Outsourcing market is segmented on the basis of:
Types
Offshore, Onshore
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Business, Government
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Clutch Group
- American Discovery
- Amstar Litigation Support
- Cobra Legal Solutions
- Infosys
- Integreon
- QuisLex
- Cogneesol
- CPA Global
- Unitedlex
- Evalueserve
- Elevate Services
- Thomson Reuters
Highlights of The Legal Outsourcing Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Offshore
- Onshore
- By Application:
- Business
- Government
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Legal Outsourcing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Legal outsourcing is the process of contracting with an outside legal firm to provide legal services. Outsourcing can take many forms, including retaining a law firm to provide specific legal services, such as litigation or corporate law; hiring a law firm to serve as general counsel for a company; and using an online service that connects businesses with qualified lawyers.
Some of the key players operating in the legal outsourcing market are Clutch Group, American Discovery, Amstar Litigation Support, Cobra Legal Solutions, Infosys, Integreon, QuisLex, Cogneesol, CPA Global, Unitedlex, Evalueserve, Elevate Services, Thomson Reuters.
The legal outsourcing market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Legal Outsourcing Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Legal Outsourcing Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Legal Outsourcing Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Legal Outsourcing Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Legal Outsourcing Market Size & Forecast, 2020-2028 4.5.1 Legal Outsourcing Market Size and Y-o-Y Growth 4.5.2 Legal Outsourcing Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Offshore
5.2.2 Onshore
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Business
6.2.2 Government
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Legal Outsourcing Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Legal Outsourcing Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Offshore
9.6.2 Onshore
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Business
9.10.2 Government
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Offshore
10.6.2 Onshore
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Business
10.10.2 Government
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Offshore
11.6.2 Onshore
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Business
11.10.2 Government
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Offshore
12.6.2 Onshore
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Business
12.10.2 Government
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Offshore
13.6.2 Onshore
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Business
13.10.2 Government
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Legal Outsourcing Market: Competitive Dashboard
14.2 Global Legal Outsourcing Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Clutch Group
14.3.2 American Discovery
14.3.3 Amstar Litigation Support
14.3.4 Cobra Legal Solutions
14.3.5 Infosys
14.3.6 Integreon
14.3.7 QuisLex
14.3.8 Cogneesol
14.3.9 CPA Global
14.3.10 Unitedlex
14.3.11 Evalueserve
14.3.12 Elevate Services
14.3.13 Thomson Reuters