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Legal Process Outsourcing (LPO) Market Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024

New research report on Legal Process Outsourcing (LPO) market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Legal Process Outsourcing (LPO) market also includes an in-depth study of the industry's competitive scenario.

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.

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Legal Process Outsourcing (LPO) Market size is set to exceed USD 40 billion by 2024; as per a new research report

Legal Process Outsourcing (LPO) Market Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024
Legal Process Outsourcing (LPO) Market Analytical Overview, Growth Factors, Demand, Trends and Forecast to 2024

Request Sample Copy of this Report @ https://www.cuereport.com/request-sample/43755

E-discovery services are expected to grow at a significant CAGR of over 40% from 2017 to 2024. 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.

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 27001.

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.

Major Highlights from Table of contents are listed below for quick lookup into Legal Process Outsourcing (LPO) Market report

Chapter 1. Competitive Landscape

  • Company market share
  • Legal Process Outsourcing (LPO) Market Competitive analysis of key market players
  • Competitive analysis of other prominent vendors

Chapter 2. Company Profiles

  • Business Overview
  • Financial Data
  • Product portfolio
  • Strategic Outlook
  • SWOT Analysis

Chapter 3. Methodology & Scope

  • Methodology
  • Initial data exploration
  • Legal Process Outsourcing (LPO) Market Statistical model and forecast
  • Industry insights and validation
  • Legal Process Outsourcing (LPO) Market Scope
  • Definition
  • Methodology and forecast parameters
  • Data Sources

Chapter 4. Executive Summary

  • Legal Process Outsourcing (LPO) industry 360º synopsis - 2025
  • Legal Process Outsourcing (LPO) Business trends
  • Region trends

Chapter 5. Legal Process Outsourcing (LPO) industry Insights

  • Legal Process Outsourcing (LPO) Industry segmentation
  • Industry landscape 2025
  • Industry Pitfalls and Challenges
  • Threat of new entrants
  • Threat of substitutes
  • Legal Process Outsourcing (LPO) Market Growth potential analysis

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