Legal Process Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Published Jan 16, 2023

Length 145 Pages

SKU # IMRC17678519

Description

Legal Process Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global legal process outsourcing market size reached US$ 15.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 73.0 Billion by 2028, exhibiting a growth rate (CAGR) of 27.7% during 2023-2028.

Legal process outsourcing (LPO) is a practice adopted by a law firm or corporation to acquire legal support services from an offshore service provider. It increases the efficiency and quality of legal procedures and allows organizations to focus their in-house legal workforce on higher-value activities. It is supported using software tools and electronic discovery, which manages large data and reduces the time and cost incurred on legal work. Some of the widely offered services by LPO include agency work, document review, legal research and writing, drafting of pleadings and briefs, and patent services.

Legal Process Outsourcing Market Trends:
The rising need for drafting agreements, contracts, meeting minutes, and letters for clients represent one of the key factors driving the market. Moreover, stringent cyber, tax, and intellectual property laws in several countries mandate companies to comply with industry standards. This, in turn, is propelling the growth of the market. In addition, there is an increase in the utilization of predictive analytic tools to reduce turnover time, integrate artificial intelligence (AI) tools with legal outsourcing services and improve business efficiencies of the financial firms. This, along with the growing focus of corporate organizations on core competencies, is positively influencing the market. Apart from this, there is an emergence of several outsourcing destinations for LPO with significant cost reductions. This, in confluence with the increasing awareness about the availability of virtual law assistants and law process automation, is contributing to the market growth. Furthermore, leading market players are currently undertaking several initiatives to acquire non-disclosure agreements and certifications. They are also focusing on building strong service level agreements (SLAs), which are projected to strengthen the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global legal process outsourcing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on location, services, organization size and end use industry.

Breakup by Location:

Offshore
Onshore

Breakup by Services:

Contract Drafting
Review and Management
Compliance Assistance
eDiscovery
Litigation Support
Patent Support
Others

Breakup by Organization Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by End Use Industry:

BFSI
Government
Automotive
Healthcare and Life Sciences
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Clairvolex, Clarivate, Cobra Legal Solutions LLC, Elevate Services Inc., Ernst & Young Global Limited, Infosys Limited, Integreon Inc., Lex Outsourcing, Mindcrest Inc. (DWF Group), Morae Global Corporation, QuisLex Inc. and UnitedLex Corporation.

Key Questions Answered in This Report
1. What was the size of the global legal process outsourcing market in 2022?
2. What is the expected growth rate of the global legal process outsourcing market during 2023-2028?
3. What are the key factors driving the global legal process outsourcing market?
4. What has been the impact of COVID-19 on the global legal process outsourcing market?
5. What is the breakup of the global legal process outsourcing market based on the location?
6. What is the breakup of the global legal process outsourcing market based on the services?
7. What are the key regions in the global legal process outsourcing market?
8. Who are the key players/companies in the global legal process outsourcing market?

1 Preface
2 Scope and Methodology: 2.1 Objectives of the Study; 2.2 Stakeholders; 2.3 Data Sources; 2.3.1 Primary Sources; 2.3.2 Secondary Sources; 2.4 Market Estimation; 2.4.1 Bottom-Up Approach; 2.4.2 Top-Down Approach; 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction: 4.1 Overview; 4.2 Key Industry Trends
5 Global Legal Process Outsourcing Market: 5.1 Market Overview; 5.2 Market Performance; 5.3 Impact of COVID-19; 5.4 Market Forecast
6 Market Breakup by Location: 6.1 Offshore; 6.1.1 Market Trends; 6.1.2 Market Forecast; 6.2 Onshore; 6.2.1 Market Trends; 6.2.2 Market Forecast
7 Market Breakup by Services: 7.1 Contract Drafting; 7.1.1 Market Trends; 7.1.2 Market Forecast; 7.2 Review and Management; 7.2.1 Market Trends; 7.2.2 Market Forecast; 7.3 Compliance Assistance; 7.3.1 Market Trends; 7.3.2 Market Forecast; 7.4 eDiscovery; 7.4.1 Market Trends; 7.4.2 Market Forecast; 7.5 Litigation Support; 7.5.1 Market Trends; 7.5.2 Market Forecast; 7.6 Patent Support; 7.6.1 Market Trends; 7.6.2 Market Forecast; 7.7 Others; 7.7.1 Market Trends; 7.7.2 Market Forecast
8 Market Breakup by Organization Size: 8.1 Small and Medium-sized Enterprises; 8.1.1 Market Trends; 8.1.2 Market Forecast; 8.2 Large Enterprises; 8.2.1 Market Trends; 8.2.2 Market Forecast
9 Market Breakup by End Use Industry: 9.1 BFSI; 9.1.1 Market Trends; 9.1.2 Market Forecast; 9.2 Government; 9.2.1 Market Trends; 9.2.2 Market Forecast; 9.3 Automotive; 9.3.1 Market Trends; 9.3.2 Market Forecast; 9.4 Healthcare and Life Sciences; 9.4.1 Market Trends; 9.4.2 Market Forecast; 9.5 Others; 9.5.1 Market Trends; 9.5.2 Market Forecast
10 Market Breakup by Region: 10.1 North America; 10.1.1 United States; 10.1.1.1 Market Trends; 10.1.1.2 Market Forecast; 10.1.2 Canada; 10.1.2.1 Market Trends; 10.1.2.2 Market Forecast; 10.2 Asia-Pacific; 10.2.1 China; 10.2.1.1 Market Trends; 10.2.1.2 Market Forecast; 10.2.2 Japan; 10.2.2.1 Market Trends; 10.2.2.2 Market Forecast; 10.2.3 India; 10.2.3.1 Market Trends; 10.2.3.2 Market Forecast; 10.2.4 South Korea; 10.2.4.1 Market Trends; 10.2.4.2 Market Forecast; 10.2.5 Australia; 10.2.5.1 Market Trends; 10.2.5.2 Market Forecast; 10.2.6 Indonesia; 10.2.6.1 Market Trends; 10.2.6.2 Market Forecast; 10.2.7 Others; 10.2.7.1 Market Trends; 10.2.7.2 Market Forecast; 10.3 Europe; 10.3.1 Germany; 10.3.1.1 Market Trends; 10.3.1.2 Market Forecast; 10.3.2 France; 10.3.2.1 Market Trends; 10.3.2.2 Market Forecast; 10.3.3 United Kingdom; 10.3.3.1 Market Trends; 10.3.3.2 Market Forecast; 10.3.4 Italy; 10.3.4.1 Market Trends; 10.3.4.2 Market Forecast; 10.3.5 Spain; 10.3.5.1 Market Trends; 10.3.5.2 Market Forecast; 10.3.6 Russia; 10.3.6.1 Market Trends; 10.3.6.2 Market Forecast; 10.3.7 Others; 10.3.7.1 Market Trends; 10.3.7.2 Market Forecast; 10.4 Latin America; 10.4.1 Brazil; 10.4.1.1 Market Trends; 10.4.1.2 Market Forecast; 10.4.2 Mexico; 10.4.2.1 Market Trends; 10.4.2.2 Market Forecast; 10.4.3 Others; 10.4.3.1 Market Trends; 10.4.3.2 Market Forecast; 10.5 Middle East and Africa; 10.5.1 Market Trends; 10.5.2 Market Breakup by Country; 10.5.3 Market Forecast
11 SWOT Analysis: 11.1 Overview; 11.2 Strengths; 11.3 Weaknesses; 11.4 Opportunities; 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis: 13.1 Overview; 13.2 Bargaining Power of Buyers; 13.3 Bargaining Power of Suppliers; 13.4 Degree of Competition; 13.5 Threat of New Entrants; 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape: 15.1 Market Structure; 15.2 Key Players; 15.3 Profiles of Key Players; 15.3.1 Clairvolex; 15.3.1.1 Company Overview; 15.3.1.2 Product Portfolio; 15.3.2 Clarivate; 15.3.2.1 Company Overview; 15.3.2.2 Product Portfolio; 15.3.2.3 Financials; 15.3.3 Cobra Legal Solutions LLC; 15.3.3.1 Company Overview; 15.3.3.2 Product Portfolio; 15.3.4 Elevate Services Inc.; 15.3.4.1 Company Overview; 15.3.4.2 Product Portfolio; 15.3.5 Ernst & Young Global Limited; 15.3.5.1 Company Overview; 15.3.5.2 Product Portfolio; 15.3.6 Infosys Limited; 15.3.6.1 Company Overview; 15.3.6.2 Product Portfolio; 15.3.6.3 Financials; 15.3.6.4 SWOT Analysis; 15.3.7 Integreon Inc.; 15.3.7.1 Company Overview; 15.3.7.2 Product Portfolio; 15.3.8 Lex Outsourcing; 15.3.8.1 Company Overview; 15.3.8.2 Product Portfolio; 15.3.9 Mindcrest Inc. (DWF Group); 15.3.9.1 Company Overview; 15.3.9.2 Product Portfolio; 15.3.10 Morae Global Corporation; 15.3.10.1 Company Overview; 15.3.10.2 Product Portfolio; 15.3.11 QuisLex Inc.; 15.3.11.1 Company Overview; 15.3.11.2 Product Portfolio; 15.3.12 UnitedLex Corporation; 15.3.12.1 Company Overview; 15.3.12.2 Product Portfolio

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