Studies show that Legal Processing Outsourcing Market has created a paradigm shift in the business model of the firms by changing their way of conducting ongoing legal work

Ocean View, DE -- (SBWire) -- 06/22/2020 --Legal Processing Outsourcing Market is set to undergo a rapid evolution in the next seven years. Studies show that LPO market has created a paradigm shift in the business model of the firms by changing their way of conducting ongoing legal work. Legal process outsourcing is a core strategy that is widely adopted by both government and private entities. Rapid increase in the legal proceeding costs has led the companies to outsource these services via LPO services. Cost cutting is one of the prime factors driving the LPO industry trends.

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With respect to the types of service, legal processing outsourcing market is classified into compliance assistance, contract drafting, E-discovery, patent support, review and management, and litigation support. E-discovery could emerge as a profitable revenue terrain for legal process outsourcing industry over time.

Reportedly, the global demand for e-discovery services is poised to grow consistently at 40% CAGR due to the increasing adoption of digital technology by many enterprises and outsourcing of e-documents containing confidential and critical data.

Company profiled in legal processing outsourcing market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Clairvolex
2. Clutch Group
3. CPA Global
4. Evalueserve
5. Infosys
6. Integreon
7. Legal Advantage LLC
8. QuisLex
9. Pangea3 Legal Managed Services
10. Mindcrest
11. UnitedLex Corporation

Lately, companies are striving to acquire crucial certificates like 27001 and ISO 9001 to prove their credibility and increase their consumer base. With the help of legal processing outsourcing market service providers, these processes become reliable and turn out to be cost-effective.

With the rise in prevalence of multinational companies across the globe, there has been higher affordability among these businesses to outsource their legal activities to skilled and well-experienced professionals. Through outsourcing, companies are assured of reliable, on-time and superior quality of legal work.

Offshore legal process outsourcing facilitates several benefits such as guaranteeing continuous operations by maintaining a 24/7 model, enhanced flexibility, global expertise and improving a law firm's efficiency and reducing the turnaround time. For instance, U.S. and India have approximately 12 hours of time difference, this allows round the clock operations thereby reducing the service delivery time.

Stimulated regulations by the government along with surging awareness among the public and general counsels are vital factors steering the legal process outsourcing market trends. Key companies providing LPO services include UnitedLex corporation, Integreon, Axiom Law and Pangea3 LLC, among various others. Consistent requirement for applications such as contract drafting, collaboration, patent drafting, litigation document management, and portal websites is benefiting the companies significantly.

Regionally, Asia Pacific is expected to significantly contribute towards legal processing outsourcing market. Countries like India, China and Philippines are increasingly being preferred for outsourcing the legal activities. Additionally, the presence of substantial number of English-speaking lawyers along with the low service fees will support the legal processing outsourcing market scale.

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Philippines, in particular, comprises of a huge Business Process Outsourcing (BPO) industry and is a preferred destination for outsourcing of LPO services. Advantages such as low cost of legal services, presence of good infrastructure, ease of doing the business and the availability of skilled people are supplementing the growth of legal outsourcing services.

The country widely serves clients from developed countries like Europe, U.S., Australia, and New Zealand. The Government of Philippines has launched Special Economic Zones Act that will provide tax exemptions, incentives and other pivotal benefits that will boost foreign investments and commercialize enterprise developments in the region, generating greater outsourcing opportunities.

Some Points From Table Of Content: -
Chapter 4. Legal Processing Outsourcing Market, By Service
4.1. Global Legal Processing Outsourcing Market share by service, 2016 & 2024
4.2. Contract drafting
4.2.1. Market estimates and forecast, 2013 - 2024
4.2.2. Market estimates and forecast, by region, 2013 - 2024
4.3. Compliance assistance
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013 - 2024
4.4. E-discovery
4.4.1. Market estimates and forecast, 2013 - 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5. Review & management
4.5.1. Market estimates and forecast, 2013 - 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
4.6. Patent support
4.6.1. Market estimates and forecast, 2013 - 2024
4.6.2. Market estimates and forecast, by region, 2013 – 2024
4.7. Litigation support
4.7.1. Market estimates and forecast, 2013 - 2024
4.7.2. Market estimates and forecast, by region, 2013 – 2024
4.8. Others
4.8.1. Market estimates and forecast, 2013 - 2024
4.8.2. Market estimates and forecast, by region, 2013 – 2024

Chapter 5. Legal Processing Outsourcing Market, By Location
5.1. Global Legal Processing Outsourcing Market share by location, 2016 & 2024
5.2. Offshore
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 - 2024
5.3. Onshore
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024

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