Legal Process Outsourcing Market Size
Legal Process Outsourcing (LPO) Market size exceeded USD 8 billion in 2020 and is expected to grow at over 22% CAGR from 2021 to 2027. High demand for precise legal assistance at affordable costs is likely to drive the industry growth.
The high expense of legal services in Europe, the US, and the UK will make more people want to use LPO services. More and more businesses and law firms in these areas are hiring people from other nations to do their legal work for them at lower prices. Corporate legal firms and law firms who want to cut expenses and focus more on their core businesses and skills are using these services more and more.
Outsourcing legal work can save money and make sure that skilled lawyers provide high-quality services. For example, legal services in India are more less than those in the U.S. and can be up to 70% less expensive. As firms try to make as much money as possible, the demand for these solutions will boost the market's income.
In the past year, the legal business has had to deal with rising costs, layoffs, and budget cuts. This has changed the way the worldwide market works. The legal process outsourcing (LPO) market is still growing, but not as quickly as it has in the past few years. A number of LPO companies discovered that their infrastructure wasn't set up or geared to manage the switch to working from home.
| Report Attribute | Details |
|---|---|
| Base Year | 2020 |
| Legal Process Outsourcing Market Size in 2020 | 8 Billion (USD) |
| Forecast Period | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR | 22% |
| 2027 Value Projection | 30 Billion (USD) |
| Historical Data for | 2017 to 2020 |
| No. of Pages | 230 |
| Tables, Charts & Figures | 208 |
| Segments covered | Service, Location, Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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The pandemic made businesses change their systems so that workers could safely access resources from home. The pandemic had a big effect on the legal process outsourcing sector, and communication channels played a big role in that. It was easy and simple for lawyers to talk to each other in person because they were used to working in the same location. Companies had to make the most of their conventional channels during the epidemic so that communication and other tasks could go smoothly.
Legal Process Outsourcing Market Analysis
The U.S. e-discovery market is expected to grow at a compound annual growth rate (CAGR) of more than 25% through 2027. This is because there is a lot of demand for cheap and easy-to-use e-discovery services that speed up the examination and analysis of Electronically Stored Information (ESI). As more and more digital data is created in the U.S. across all industries, the need for e-discovery services that accurately collect, find, identify, and produce data has grown.
E-discovery is particularly important for getting ESI ready to be shown in a lawsuit or investigation. Because there is so much electronic data being created and kept right now, the technologies and processes for e-discovery are hard to understand. As digitization becomes more common in the U.S. legal system, lawyers will look for new ways to process, store, copy, and create altered digital documents to use as evidence in court.
The India legal process outsourcing industry is expected to expand by about 27% by 2027. The regional market is making more money since there are more and more highly qualified lawyers who speak English fluently and work in different areas of law. Law firms in the country that offer legal process outsourcing services at reasonable rates encourage businesses to hire legal process services locally instead of abroad. This also has the benefit of having experienced lawyers who know the laws in the area.
A lot of people in the country are currently taking classes to become experts in international business law. This is helping the onshore LPO industry expand even more. To meet the needs of big global multinational companies that are setting up operations in India, service providers engage students from well-known colleges. The growing business sector and the availability of skilled workers will both help the demand for LPO services.
In 2020, the Asia Pacific legal process outsourcing market accounted for above 55% of the global revenue share and will witness steady growth till 2027 on account of the rising number of law firms and businesses in Europe and North America outsourcing their legal service requirements to offshore companies. Law firms in countries including India, Australia, and the Philippines are focusing on hiring highly skilled personnel to offer high-quality services to international organizations.
Instead of attaining services from paralegals or legal associates in onshore locations, businesses in the U.S. benefit from the LPO services offered by highly qualified law professionals in India and the Philippines at around 50% cost. The onshore market in Asia Pacific will also gain traction with the development of the corporate sector and the strengthening of the regulatory landscape in several APAC countries.
Legal Process Outsourcing Market Share
Players focus on expanding their regional presence to ensure high profitability and a stable position in the global LPO market. For instance, in April 2021, Evalueserve SEZ opened an office in Bucharest, Romania to expand its operations in Europe. The company aims to offer enhanced services to customers in Europe. Legal process outsourcing players are focusing on market expansion strategies to secure a stronger position in the regional industry by analyzing specific regulations in the concerned region.
Key players operating in the legal process outsourcing market include
- Acumen Legal Services Pvt. Ltd.
- ADEC Innovation
- Amstar Litigation Support
- BODHI Global Solutions
- Clairvolex Knowledge Processes Pvt. Ltd.
- Cobra Legal Solutions, LLC
- Datascribe Technologies Inc.
- Elevate Services Inc.
- Evalueserve SEZ
- Infosys Limited
- Kensium BPO
- LawScribe, Inc.
- Lexplosion Solutions Pvt. Ltd.
- Morae Global Corporation
- Pangea3
- Wipro Limited
This market research report on legal process outsourcing (LPO) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments
Market, By Service
- Contract drafting
- Compliance assistance
- E-discovery
- Review & management
- Patent support
- Litigation support
- Others
Market, By Location
- Onshore
- Offshore
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Poland
- Czech Republic
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Philippines
- Latin America
- Brazil
- Mexico
- MEA
- GCC
- South Africa
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