Dublin, June 24, 2019 (GLOBE NEWSWIRE) -- The "Legal Process Outsourcing Market Size, Share & Trends Analysis Report By Location (Offshore, On-Shore), By Service (e-discovery, Patent Support, Litigation Support), And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global legal process outsourcing market size is projected to reach USD 35.9 billion by 2025, expanding at a CAGR of 31.8% from 2019 to 2025. The growth can be chiefly attributed to the emergence of alternative legal service delivery models and virtual law firms.
Technological advancements and innovations in the legal industry are expected to offer new growth avenues in the sector, helping law firms inculcate a transparent relationship with clients. Law firms are deploying Natural Language Processing (NLP) and document automation capabilities to fall in line with the reinvention of the legal industry.
Artificial Intelligence (AI) is another factor that has taken the LPO industry to a new level. Software equipped with AI capabilities is garnering utmost importance among lawyers and firms to save their time. Document production and proofreading of documents are efficiently done with the help of automation software. Use of team collaboration software is further streamlining the execution of all documentation processes. All such technological developments have greatly aided lawyers by decreasing costs and increasing convenience.
Electronic discovery (e-discovery) services have grown in prominence, which can be attributed to amendments by the Federal Rules of Civil Procedure, making Electronically Stored Information (ESI) such as e-mails, e-calendars, and voicemails discoverable on handheld devices in litigation. The development of ESI will reduce the complexity and cost of e-discovery processes and is expected to simplify large-scale complex litigation processes.
Further key findings from the study suggest:
- On-shore outsourcing is expected to grow at a significant rate over the forecast period, owing to benefits such as enhanced data security and sophisticated service delivery models.
- The litigation support segment is expected to register a CAGR of more than 34% over the forecast period.
- Majority of the LPO providers are emphasizing on maintaining their locally-registered office in U.S. and setting up back offices in Asia-Pacific in order to strengthen their foothold in the global market.
- Key players in the legal process outsourcing (LPO) market include Clairvolex, Clutch Group, Mindcrest, and Pangea3.
Key Topics Covered
Chapter 1 Methodology and Scope
1.1 Information Procurement
1.2 Information Analysis & Data Analysis Models
1.3 List of Data Sources
1.4 Research Scope & Assumptions
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
3.1 LPO-Market Snapshot & Key Buying Criteria, 2015 - 2025
Chapter 4 Legal Process Outsourcing Industry Outlook
4.1 Market Segmentation & Scope
4.2 LPO-Market Size and Growth Prospects
4.3 LPO-Value Chain Analysis
4.4 LPO Market dynamics
4.4.1 Market driver analysis
4.4.1.1 Cost efficiency
4.4.1.2 Effective utilization of resources
4.4.2 Market restraint analysis
4.4.2.1 Confidentiality risk
4.5 LPO Company Market Share, 2018
4.6 Penetration & Growth Prospect Mapping
4.7 Technology & Legal Services
4.8 Business Environmental Analysis Tools
4.8.1 PEST analysis
4.8.1.1 Political landscape
4.8.1.2 Economic landscape
4.8.1.3 Social landscape
4.8.1.4 Technology landscape
4.8.2 Porter's five force analysis
Chapter 5 Legal Process Outsourcing Market Location Estimates & Trend Analysis
5.1 Market Estimates & Forecasts and Trend Analysis, 2015 - 2025, (Revenue, USD Million)
5.2 Legal Process Outsourcing Market: Location Movement Analysis
5.2.1 Offshore outsourcing
5.2.2 On-shore outsourcing
Chapter 6 Legal Process Outsourcing Market Service Estimates and Trend Analysis
6.1 Market Estimates & Forecasts and Trend Analysis, 2015 - 2025, (Revenue, USD Million)
6.2 Legal Process Outsourcing Market: Service Movement Analysis
6.2.1 Contract drafting
6.2.2 Review and management
6.2.3 Compliance assistance
6.2.4 E-discovery
6.2.5 Litigation support
6.2.6 Patent support
6.2.7 Other LPO services
Chapter 7 Legal Process Outsourcing Market Regional Estimates & Trend Analysis
7.1 Market Estimates & Forecasts and Trend Analysis, 2015 - 2025, (Revenue, USD Million)
7.2 Legal Process Outsourcing Market Share by Region, 2018 & 2025
7.3 North America
7.4 Europe
7.5 Asia Pacific
7.6 Latin America
7.7 MEA
Chapter 8 Competitive Landscape
8.1 Clairvolex
8.2 Evalueserve
8.3 Integreon Managed Solutions Inc.
8.4 Clutch Group
8.5 Cobra Legal Solutions LLC
8.6 CPA Global Ltd.
8.7 Exigent
8.8 Infosys Ltd.
8.9 Legal Advantage LLC
8.10 Lexsphere Pvt. Ltd.
8.11 Lexplosion Solutions Pvt. Ltd.
8.12 Lex Outsourcing
8.13 Mindcrest Inc.
8.14 Pangea3
8.15 QuisLex Inc.
8.16 UnitedLex
For more information about this report visit https://www.researchandmarkets.com/r/nf1pz2
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