Grand View Research

World Legal Process Outsourcing (LPO) Market Is Expected to Grow at a Steady Rate from 2014 - 2020 : Grand View Research

GrandViewResearch.com has announced the addition of " Global Legal Process Outsourcing (LPO) Market Analysis And Segment Forecasts To 2020" Market Research report to their Database

 
Repost This

San Francisco, CA -- (SBWIRE) -- 04/29/2014 -- The global legal process outsourcing (LPO) market is expected to reach USD 8,568.5 million by 2020, according to a new study by Grand View Research, Inc. Cost effectiveness through outsourcing non-core legal activities is expected to be the key driving force for the market over the next six years. Additionally, LPO facilitates higher resource utilization, which is also expected to fuel industry growth over the forecast period.

Legal process outsourcing allows in-house legal counsel to work on tasks which are high-value in nature, thus driving profitability. Additionally, unanticipated legal activities can be effectively handled; LPO also helps reduce overall external spending. Security and confidentiality concerns were the major barriers to LPO adoption; however, these can be resolved with the help of strong service level agreements (SLA) among other techniques.

The report “Legal Process Outsourcing (LPO) Market Analysis By Location (On-shore, Offshore), By Service (Contract Drafting, Review & Management, Compliance Assistance, E-Discovery, Litigation Support, Patent Support) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/legal-process-outsourcing-lpo-market

Inquiry Before Buying @ http://www.grandviewresearch.com/inquiry/340

Further key findings from the study suggest:

- Offshore LPO refers to outsourcing to service providers in other jurisdictions. Major offshore locations include India, the Philippines and South Africa. On-shore outsourcing is expected to pick up speed over the forecast period, since it is considered a relatively safer option as opposed to outsourcing offshore. It also provides benefits including a shared regulatory framework, which simplifies business processes.
- e-discovery accounted for the largest market share of over 25% in 2013. Law firms aim to outsource activities which are low-value in nature, so as to target tasks such as giving strategic legal advice. Organizations prefer to handle core tasks, and outsource transactional activities that do not require high degree of specialized knowledge. Intellectual property (IP) support, litigation support, contract drafting and review are among other service activities.
- Law firms in the U.S. and UK outsource business to domestic markets or emerging markets of Asia Pacific and RoW. Offshore outsourcing to countries such as India provides advantages in terms of cost saving, and tasks such as IP processes, document analysis and legal research are commonly outsourced there.
- Industry participants include Bodhi Global Services, CPA Global Ltd., Pangea3, Cobra Legal Solutions, LLC, Clutch Group, LawScribe, Inc., etc. LPO providers offer a variety of services, and can be divided into core LPO, KPO, or legal support service companies.

Request Free Sample of This Report @ http://www.grandviewresearch.com/industry-analysis/legal-process-outsourcing-lpo-market/request

For the purpose of this study, Grand View Research has segmented the global LPO market on the basis of product and region:

LPO Location Outlook (Revenue, USD Million, 2012 – 2020)
- On-shore outsourcing
- Offshore outsourcing

LPO Services Outlook (Revenue, USD Million, 2012 – 2020)
- Contract drafting
- Review and management
- Compliance assistance
- e-discovery
- Litigation support
- Patent support
- Others

LPO Regional Outlook (Revenue, USD Million, 2012 – 2020)
- North America
- Europe
- Asia Pacific
- RoW

Latest Reports By Grand View Research:

Catheters Market Analysis By Product (Cardiovascular, Urology, Intravenous, Neurovascular And Specialty Catheters) And Segment Forecasts To 2020 - http://www.grandviewresearch.com/industry-analysis/catheters-market-analysis

Powder Coatings Market Analysis By Application (Automotive, Consumer Goods, General Industry, Architectural, Furniture) And Segment Forecasts To 2020 - http://www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis

About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com