© 2016 Global Market Insights, Inc. USA. All Rights Reserved Legal Process Outsourcing Market to hit $40bn by 2024: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Increasing requirement for efficient legal departments to manage process-oriented and high volume legal work is anticipated to drive the legal process outsourcing market over the forecast timeframe. Rapid increase in the cost of legal proceedings has led the companies to outsource these services. Cost-efficiency is one of the major factors benefitting the LPO market landscape.  Technological advancements in the Legal Process Outsourcing Market have contributed towards the significant revenue growth. AI (Artificial Intelligence) is an important tool for extracting valuable data enabling firms to concentrate more on client work through increased bandwidth resulting in efficient delivery of services with high accuracy levels. Rising demand for intelligent technology to obtain information from unstructured data along with understanding and reading it as a human is anticipated to propel the growth of AI in the legal process outsourcing market.Legal Process Outsourcing Market Key Insights from Legal Process Outsourcing Market :

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The security concern associated with the LPO model is anticipated to challenge the industry growth over the forecast timeframe. Major providers are addressing the confidentiality and security concerns by implementing globally standard certifications and processes, such as Six Sigma and ISO  E-discovery services are expected to grow at a significant CAGR of over 40% from 2017 to This growth is attributed to the rapidly growing usage of digital systems by businesses and outsourcing of electronic documents which contain an enormous amount of data and meta-data. For identifying and generating this information often proves to be troublesome for the in-house legal department. These operations aid in reducing the time consumed and are cost-effective.  The demand for patent support services in the legal process outsourcing market will witness significant growth owing to the rising inclination towards IP monitoring and legal research for better cost efficiency. This is done to deliver intellectual property portfolios of the clients to guide them on any possible infringements or threats. Continued...

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The onshore LPO market size will flourish over the forecast timeframe. This is due to rising demand from various law firms and European corporations’ inclination towards services to be provided onshore, rather than offshore. Increasing operational cost in South Africa and India coupled with altering European Union (EU) data protection laws are also limiting the types of services which can be offshored which is further escalating the demand for onshore services.  The Philippines LPO market share will be driven by the decreasing cost of legal services accompanied with the infrastructure which makes it an excellent offshoring destination.  The legal process outsourcing market is characterized by the need to reduce the cost of legal services. The companies in the industry are focusing on acquiring certifications such as ISO and ISO Furthermore, various LPO providers are adopting a hands-on approach on training their staff on specific legal engagements, consisting on involving corporate legal professional to directly focus on such learning initiatives. Some key companies include UnitedLex Corporation, Pangea3 LLC, Integreon, Inc., Axiom Law, Elevate Services Inc., etc. Continued...

© 2016 Global Market Insights, Inc. USA. All Rights Reserved U.S. LPO market size, by location, 2016 & 2024 (USD Million)

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Browse Full Market Research Report On Legal Process Outsourcing Request for a Sample of this Research

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  By Location Trends The onshore legal process outsourcing market is anticipated to witness high growth over the future, as it is considered a comparatively safer alternative in comparison to outsourcing offshore. It offers benefits such as shared regulatory framework, which streamlines the business processes. It is a profitable option for organizations that desire working together with companies within the same country.  By Region Trends India legal process outsourcing market size will grow significantly from 2016 to 2024 due to the presence of numerous English speaking lawyers whose incomes are lesser than those of their U.S. based counterparts. Indian service providers have also worked to address the necessary requirements to target UK and U.S. based clients.  Competitive Market Share Industry participants in legal process outsourcing (LPO) market include Integreon, Inc., UnitedLex Corporation, Elevate Services Inc., Pangea3 LLC, Axiom Law, etc. The players are focusing on offering higher-value services such as supporting compliance management. 360° Analysis

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