Global Legal Process Outsourcing Market Size By Location (Off-Shore Outsourcing And On-Shore Outsourcing), By Service (E-Discovery, Contract Drafting, Review And Management, Compliance Assistance), By Geographic Scope And Forecast

Legal Process Outsourcing Market Size And Forecast

Legal Process Outsourcing Market size was valued at USD 8,085.84 Million in 2021, and is estimated to reach USD 48,734.91 Million by 2030, registering a CAGR of 22.66% from 2023 to 2030.

Legal process outsourcing can be performed in two ways, including on-shoring and offshoring. Onshore legal process outsourcing has become as prevalent as offshore legal process outsourcing. The major issue with offshore legal process outsourcing is security, this is the reason why companies favour on-shoring outsourcing over offshoring. Also, on-shoring outsourcing has the added benefit of the hared regulatory framework. Hence, the on-shore legal process outsourcing market is predicted to grow at a higher rate over the forecast period. The Global Legal Process Outsourcing Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market.

Global Legal Process Outsourcing Market Definition

Legal Process Outsourcing is the process of acquiring the practice of legal support services and law from outside legal firms. It is capable of introducing enhanced efficiency and improved quality of legal processing. The electronic documents are processed by utilizing technologies such as software tools and e-discovery that are capable of handling the expandable volume of data and help in the reduction of time and cost. The e-discovery platform is extensively being deployed in the legal process of outsourcing to achieve intellectual property (IP) and legal support.

Legal process outsourcing can be performed in two ways, including on-shoring and offshoring. Onshore legal process outsourcing has become as prevalent as offshore legal process outsourcing. The major issue with offshore legal process outsourcing is security, this is the reason why companies favor on-shoring outsourcing over offshoring. Also, on-shoring outsourcing has the added benefit of the shared regulatory framework. Hence, the on-shore legal process outsourcing market is predicted to grow at a higher rate over the forecast period.

The growth of the global legal process outsourcing is caused by several factors, including increasing use of predictive analytic tools to reduce turnover time, integration of AI tools with legal outsourcing services, and improving business efficiencies of the financial firms. The increasing focus of corporate organizations on core competencies, the emergence of outsourcing destinations along with significant cost reductions are among the key factors stimulating the growth of the global legal process outsourcing market in the coming years.

Global Legal Process Outsourcing Market Overview

Outsourcing legal processes can help in saving a lot of money. Rather than using specialized corporate resources, specific legal services are outsourced to outside firms, local lawyers, or paralegals. Reasons behind the rapid growth in legal process outsourcing are an increase in globalization, better use of technology, and the economic environment. Some of the major benefits of legal process outsourcing are cost-saving, scalability, speed and efficiency, and resources. As consumers continue focuses more on lower prices and businesses fight for survival, rising legal costs have taken center stage. A growing number of businesses are looking into legal process outsourcing (LPO) as a potential option. For example, a company’s procurement teams may be asked to locate LPO suppliers to handle transactional legal work so that its in-house legal department can focus on more specialized tasks. Rapid technological advancements have not spared the legal profession around the world, resulting in a paradigm shift in the operation of entire court systems. Technology has profoundly altered the legal industry, from live-streamed court proceedings to advanced client management systems, and from judgment publication platforms to artificial intelligence-driven research solutions.

The legal process outsourcing business is rapidly expanding as law firms and corporate legal departments seek to reduce costs while increasing flexibility and expanding their in-house capabilities. With the increase in concerns about legal costs in nations such as the United States and the United Kingdom, corporations are looking to outsource certain legal proceedings through their legal representation to save money. Furthermore, because of the affordability, efficiency, and availability of trained employees, cost-cutting is a big draw for western corporations outsourcing their legal work to nations like India.

Offshoring the legal process to India saves US law firms, attorneys, and government agencies up to 80% of their expenditures. The widespread use of English in Indian legal education increases the professional relationship between US and Indian law firms, which can be mutually beneficial. The Legal System For many lawyers in India, outsourcing as a business is poised to become a mainstream practice. Professionals with Indian law degrees are valuable

Global Legal Process Outsourcing MarketSegmentation Analysis

The Global Legal Process Outsourcing Market is segmented on the basis of Location, Service, and Geography.

Legal Process Outsourcing Market, By Location

• Off-shore Outsourcing• On-shore Outsourcing

Based on Location, the market is bifurcated into offshore outsourcing, On- shore outsourcing. Offshore Outsourcing accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 21.71% during the forecast period.

Legal Process Outsourcing Market, By Service

• E-discovery• Contract Drafting• Review and Management• Compliance Assistance• Others

Based on Service, the market is bifurcated into E- discovery, Contract Drafting, review and management, Compliance assistance and Others. E- discovery accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 23.10% during the forecast period.

Legal Process Outsourcing Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of regional analysis, the Global Legal Process Outsourcing Market is classified into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Asia Pacific accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 22.78% during the forecast period.

Key Players

The “Global Legal Process Outsourcing Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as INFOSYS LTD., INTEGREON MANAGED SOLUTIONS INC., CLUTCH GROUP, Cobra Legal Solutions LLC, Exigent, Legal Advantage LLC, Clairvolex, Lexsphere Pvt. Ltd., and Evalueserve.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Collaborations, and Agreements

• In January 2020, Polsinelli partnered with UnitedLex to launch a new Litigation Solution Center called PolsinelliPLUS. PolsinelliPLUS will expand upon the firm’s current litigation support services to provide attorneys and clients with the best quality eDiscovery and investigative support services.

• In October 2019, alternative legal services provider (ALSP) Integreon partnered with Seal Software, to enhance the company’s global managed services contract lifecycle management offering with Seal’s artificial intelligence (AI) contract analytics technology.

Acquisition and Mergers

• In January 2019, Elevate Acquired Halebury, to expand the Flexible Lawyering Platform and Resourcing Capacity. Halebury would operate as an Elevate business, and would also retain its team.

• In November 2018, Global law company Elevate announced the acquisition of enterprise legal AI technology and consulting firm LexPredict. The move would augment the comprehensive legal services offering of Elevate with the data science and AI capabilities of LexPredict, creating improved technology-enabled solutions for law departments and firms.

Product Launches and Product Expansions

• In September 2019, global legal services provider Integreon launched a Cyber Incident Response (CIR) Service to help law firm and corporate security professionals accurately deal with cybersecurity incidents.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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