Legal Process Outsourcing Services Market Likely to Enjoy ‘Explosive Growth’ by 2028 | Infosys, Exigent, Lexis Nexis
Legal Process Outsourcing Services Market Analysis & Forecast for Next 5 Years
The latest published Legal Process Outsourcing Services market study has assessed the future growth potential of the global and regional Legal Process Outsourcing Services market, providing information and useful statistics on market structure and size. The report aims to provide market information and strategic insights to help decision makers make informed investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyzes changing dynamics and emerging trends along with major drivers, challenges, opportunities and restraints in the Legal Process Outsourcing Services market. The study includes market share analysis and profiles of players such as Infosys, Integreon, QuisLex, UnitedLex, Capita, Cobra Legal Solutions, CPA Global, Exigent, HCL Technologies, LegalBase, Accace, LexisNexis, Mindcrest, Alcor-Ukraine LLC., Nextlaw Labs, Wipro, WNS.
Legal Process Outsourcing Services market to see a valuation of USD 40436 million by 2027, growing at a CAGR of 25.42% during the forecast period of 2021 to 2027.
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Legal Process Outsourcing Services
The global legal process outsourcing service market is further expected to due to increase in demand for outsourcing from the IT and telecom industry, growing need to adopt new technology with modern consumer trends across the world. Also, many key players are also developing innovative technologies advancement in solutions for the market. Moreover, certain vendors in the market have introduced advanced services and solutions. Rise in investments in the outsourcing industry is anticipated to offer lucrative opportunities to the legal process outsourcing service market across the world.
Growing population and continued urbanization and migration is limiting the availability of real estate all around the world, particularly in metropolitan cities. Subsequently, real estate prices are rising while the average commercial space available for organizations is shrinking. Organizations are responding to the situation by limiting their employee strength and outsourcing some of their non-core tasks. These factors are directly driving the need for outsourcing.
Key Market Segments
The Global Legal Process Outsourcing Services Market by Type;
IP technical support outsourcing
Review services outsourcing
Legal research outsourcing
Litigation support outsourcing
E-discovery services outsourcing
Contract management outsourcing
Others
Among all the type E-discovery services outsourcing is dominating the market
The Global Legal Process Outsourcing Services Market by Applications;
Law Firm
Enterprise
SMEs
Among the applications Large Enterprises is dominating the market
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Market Dynamics
Industry Trends
Growing Use of Artificial Intelligence (AI) in LPO Service
Market Drivers
High Adoption of Electronic Discovery (e-discovery) Services
Growing Demand of the LPO in the Law Firms
Market Opportunities
Technological Advancements and Innovations in the Legal Industry
Market Challenges
Risk Associated With Confidentiality and Losing Of Sensitive Data
Regional & Country Analysis
North America Country (United States, Canada)
South America (Brazil, Argentina, Peru, Chile, Rest of South America)
Asia-Pacific (China, Japan, India, South Korea, Australia, Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, Others)
Europe (Germany, United Kingdom, France, Italy, Spain, Switzerland, Netherlands, Austria, Sweden, Norway, Belgium, Rest of Europe)
Rest of World [United Arab Emirates, Saudi Arabia (KSA), South Africa, Egypt, Turkey, Israel, Others]
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