Global Legal Process Outsourcing Services Market by Type (Contract Drafting, Review and Management, Compliance Assistance, Litigation Support, Patent Support, Others), By Application (SME, Large Enterprise) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global legal process outsourcing (LPO) services market is expected to grow at a CAGR of 10.8% from 2018 to 2030, according to a new study by MarketsandMarkets. The market is projected to reach USD 16.5 billion by 2030 from USD 7.7 billion in 2018. The growth of the LPO services market can be attributed to the increasing demand for cost-effective legal solutions, rising demand for legal process outsourcing from SMEs, and growing focus on core business activities. The contract drafting, review and management segment is expected to account for the largest share of the LPO services market in 2018.



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Product Definition:

Legal process outsourcing (LPO) is the practice of contracting with a third-party company to provide legal services. LPO companies offer a variety of services, including contract review, due diligence, trademark and copyright registration, and litigation support. The benefits of using an LPO company include cost savings, improved efficiency, and access to legal expertise.

Contract Drafting:

Contract drafting is a process of creating a contract between two or more parties. It involves the creation of an agreement that meets the requirements set by both contracting parties and is enforceable under law. A skilled service provider in contract drafting can help businesses reduce costs, improve productivity, and ensure compliance with government regulations.

The global Contract Drafting market size was valued at USD 2,867.2 million in 2016.

Review and Management:

The global review and management and it's usage in legal process outsourcing services market size was valued at USD 2.5 billion in 2015. The increasing demand for efficient outsourced processes such as document review, case management, hearing management, and other processes is expected to drive the growth of the market over the forecast period.

Application Insights:

The Small and Medium-sized Enterprise (SME) application segment accounted for the largest revenue share of over 60% in 2017. The Legal Process Outsourcing services are widely used by SMEs as they require a limited number of lawyers and paralegals to handle legal issues. Furthermore, the use of offshore outsourcing saves costs for SMEs as it reduces the overall cost associated with legal advice or representation.

Offshore Legal Process Outsourcing has helped numerous small businesses to reduce their overall exposure to risk by limiting their need for capital intensive systems, while increasing productivity and efficiency within their existing IT infrastructure. This trend is expected to continue over the forecast period, thereby driving growth across all industries including healthcare & life sciences in 2018 and beyond.

Regional Analysis:

Asia Pacific is expected to be the fastest-growing regional segment over the forecast period. The growth can be attributed to increasing outsourcing of legal processes in this region. Asia Pacific has been observed as a hub for legal process outsourcing services due to availability of low-cost labor and high-quality human resource. Moreover, rising number of SMEs in countries such as India and China is anticipated to fuel the demand for GLPO services over the next eight years.

The European market accounted for more than 20% revenue share in 2017 owing to growing trend toward offshoring activities among enterprises operating across various sectors including IT, telecom, banking & financial services, healthcare & life sciences, and others. In addition, presence of large law firms that are increasingly focusing on reducing their operational costs by offshoring some or all tasks have fueled market growth over past few years in Europe region also known as “the motherland” where lawyers are born not bought (LOB).

Growth Factors:

Increased demand for cost-effective legal services: The global economic slowdown has led to increased pressure on businesses to reduce costs. Legal process outsourcing (LPO) services offer a more cost-effective option for businesses than hiring in-house legal staff.
Increased demand for specialized legal services: LPO providers can offer specialized legal services that are not available in-house or are too expensive to hire an attorney to provide on a full-time basis.
Rapid growth of the ecommerce industry: The rapid growth of the ecommerce industry has led to an increase in the number of online disputes and lawsuits. LPO providers can help businesses resolve these disputes quickly and efficiently.
Growing demand for litigation support services: As the number of lawsuits increases, so does the need for litigation support services such as document review, data mining, and research assistance. LPO providers can provide these types of services at a fraction of the cost compared with hiring an in-house lawyer or outside law firm .  5


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Scope Of The Report
Report Attributes
Report Details
Report Title
Legal Process Outsourcing Services Market Research Report
By Type
Contract Drafting, Review and Management, Compliance Assistance, Litigation Support, Patent Support, Others
By Application
SME, Large Enterprise
By Companies
Clutch, Infosys, Integreon, QuisLex, UnitedLex, Capita, Capgemini, Cobra Legal Solutions, CPA Global, Exigent, HCL Technologies, Legal Advantage, LegalBase, Mindcrest, NewGalexy, Nextlaw Labs, Wipro, WNS
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
215
Number of Tables & Figures
151
Customization Available
Yes, the report can be customized as per your need.

Global Legal Process Outsourcing Services Market Report Segments:
The global Legal Process Outsourcing Services market is segmented on the basis of:
Types
Contract Drafting, Review and Management, Compliance Assistance, Litigation Support, Patent Support, Others
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
SME, Large Enterprise
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
Infosys
Integreon
QuisLex
UnitedLex
Capita
Capgemini
Cobra Legal Solutions
CPA Global
Exigent
HCL Technologies
Legal Advantage
LegalBase
Mindcrest
NewGalexy
Nextlaw Labs
Wipro
WNS



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Highlights of The Legal Process Outsourcing Services 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:
Contract Drafting
Review and Management
Compliance Assistance
Litigation Support
Patent Support
Others
By Application:
SME
Large Enterprise
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 Process Outsourcing Services 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.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



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

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