Legal Process Outsourcing Market Size is anticipated to arrive at USD 13.44 billion till 2022

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Outsourcing legal activities facilitates major
competitors to manage workforce and time
effectively
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Global Market Scenario of Legal Process
Outsourcing Market

• Outsourcing legal activities facilitates major
  competitors to manage workforce and time
  effectively.
• In addition, it also helps them to focus
  completely on core business functions that are
  responsible for revenue generation.
• Emerging nations such as the Philippines, India
  and South Africa have a considerable time
  difference from the U.S. and Europe, which helps
  provide a round-the-clock workforce whenever
  required.
• Moreover, countries with common law systems in
  place would share the same basic legal framework.
  Thus, Philippines and India have emerged as
  leading offshore destinations.
• The cost of legal services in regions such as
  India is negligible as compared to North America.
  Outsourcing costs per hour have been reported to
  be as low as USD 50, which is expected to
  considerably boost savings.
• Litigation support outsourcing market size is
  expected to grow at a CAGR of over 29 from 2015
  to 2022. Cost saving, scalability, as well as
  flexibility offered is expected to fuel the
  industry.

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Continue.....

• Confidentiality risk is expected to restrain LPO
  market growth over the forecast period.
  Sustaining confidentiality and data security by
  outsourcing services to offshore or onshore
  locations is likely to be a prime challenge for
  the industry demand.
• However, the impact of this barrier is
  anticipated to minimize owing to increasing
  awareness among organizations regarding security
  and safety over the forecast period.
• Offshore LPO market size was valued at over USD
  1.5 billion in 2014, and is likely to reach USD
  10 billion by 2022. These services are mainly
  delivered to countries such as the Philippines
  and India. They involve outsourcing of legal
  services to providers as well as to the law firms
  in other jurisdictions.

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360 Analysis
Application Analysis On-shore outsourcing
attracts organizations that have a preference to
collaborate with other companies in the same
country. It offers several benefits such as
shared regulatory framework which is likely to
drive demand. The segment is anticipated to grow
at 28 over the next seven years. Regional
Analysis Other services include review and
management, contract drafting, compliance
assistance, patent support and litigation support
among others. Patent support is commonly known as
intellectual property that includes IP portfolio
management, docketing and patent drafting
review. It accounted for over 21 of the total
LPO market share in 2014 and is estimated to
exceed USD 3 billion by 2022. Competitive Market
Share North America LPO industry is anticipated
to exceed USD 1.1 billion by 2022 owing to large
number of firms in the U.S. prefer to outsource
repetitive legal activities over the forecast
period. MEA LPO market size was valued at USD 90
million in 2014 and is forecast to grow at over
27 up to 2022. This can be mainly attributed to
growing focus on provision of legal services.

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