Legal Process Outsourcing Market Demand and Trends 2014 - 2024
The global Legal Process Outsourcing (LPO) market is expected to reach USD 27.19 billion by 2024, according to a new report by Radiant insights, inc. Outsourcing legal activities allows organizations to manage workforce and time efficiently and helps them to focus completely on core business operations, which are responsible for revenue generation.
Countries such as India, South Africa, and the Philippines, which are popular destinations for LPO, have a significant time difference between Europe and the U.S. This time difference helps in providing a continuous workforce, whenever required.The cost of legal services in markets such as India is far lesser than that in North America. The per hour outsourcing costs in India is estimated to be as low as USD 10, which is expected to considerably boost the savings.
Additionally, outsourcing work to offshore locations ensures continuous operations since they follow 24-hour work cycles, thus ensuring the completion of a time-consuming work with high efficiency. In November 2008, Wall Street Journal quoted that around 79,000 legal jobs based in the U.S. are expected to be moved offshore by 2015. As the allocated tasks are usually repetitive, LPO providers work with set protocols and Key Performance Indicators (KPI) in place. LPO firms utilize low-cost workers and automated software as well asupdate repetitive tasks that involve significant documentation and paperwork.
Download full research Report @ http://www.radiantinsights.com/research/legal-process-outsourcing-market
Further key findings from the report suggest:
Offshore outsourcing is expected to grow at a CAGR of over 30% from 2016 to 2024, owing to the increased demand for these services in India and the Philippines
Litigation support is anticipated to gain prominence, accounting for over 20% of the revenue share by 2024, as most of the firms hire outside consultants for expert investigative litigation support in order to win high profile cases
Some of the key players in the legal process outsourcing market include Axiom Law, Elevate Services Inc., Pangea3 LLC, UnitedLex Corporation, and IntegreonInc.
In order to strengthen the foothold in the market, a majority of LPO providers are maintaining their physical presence in the U.S. along with back offices in the Asia Pacific region
Request a Free Sample Copy of this Report @ http://www.radiantinsights.com/research/legal-process-outsourcing-market/request-sample
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
3.1 LPO - Market Snapshot &Key Buying Criteria, 2014 - 2024
Chapter 4 LPO Industry Outlook
4.1 Market Segmentation &Scope
4.2 LPO Market Size and Growth Prospects
4.3 LPO - Value Chain Analysis
4.4 LPO Market Dynamics
4.4.1 Market Driver Analysis
4.4.1.1 Cost efficiency
4.4.1.2 Effective utilization of resources
4.4.2 Market restraint analysis
4.4.2.1 Confidentiality risk
4.5 Industry Analysis - Porter's
4.6 LPO Company Market Share, 2014
4.6.1 Company market share analysis, 2014
4.7 Penetration &Growth Prospect Mapping
4.8 LPO - PESTEL Analysis
Chapter 5 Market Categorization 1: Location Estimates & Trend Analysis
Browse all Report of this category @ http://www.radiantinsights.com/catalog/technology-and-media
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email : sales@radiantinsights.com
visit our website : http://www.radiantinsights.com/
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Countries such as India, South Africa, and the Philippines, which are popular destinations for LPO, have a significant time difference between Europe and the U.S. This time difference helps in providing a continuous workforce, whenever required.The cost of legal services in markets such as India is far lesser than that in North America. The per hour outsourcing costs in India is estimated to be as low as USD 10, which is expected to considerably boost the savings.
Additionally, outsourcing work to offshore locations ensures continuous operations since they follow 24-hour work cycles, thus ensuring the completion of a time-consuming work with high efficiency. In November 2008, Wall Street Journal quoted that around 79,000 legal jobs based in the U.S. are expected to be moved offshore by 2015. As the allocated tasks are usually repetitive, LPO providers work with set protocols and Key Performance Indicators (KPI) in place. LPO firms utilize low-cost workers and automated software as well asupdate repetitive tasks that involve significant documentation and paperwork.
Download full research Report @ http://www.radiantinsights.com/research/legal-process-outsourcing-market
Further key findings from the report suggest:
Offshore outsourcing is expected to grow at a CAGR of over 30% from 2016 to 2024, owing to the increased demand for these services in India and the Philippines
Litigation support is anticipated to gain prominence, accounting for over 20% of the revenue share by 2024, as most of the firms hire outside consultants for expert investigative litigation support in order to win high profile cases
Some of the key players in the legal process outsourcing market include Axiom Law, Elevate Services Inc., Pangea3 LLC, UnitedLex Corporation, and IntegreonInc.
In order to strengthen the foothold in the market, a majority of LPO providers are maintaining their physical presence in the U.S. along with back offices in the Asia Pacific region
Request a Free Sample Copy of this Report @ http://www.radiantinsights.com/research/legal-process-outsourcing-market/request-sample
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
3.1 LPO - Market Snapshot &Key Buying Criteria, 2014 - 2024
Chapter 4 LPO Industry Outlook
4.1 Market Segmentation &Scope
4.2 LPO Market Size and Growth Prospects
4.3 LPO - Value Chain Analysis
4.4 LPO Market Dynamics
4.4.1 Market Driver Analysis
4.4.1.1 Cost efficiency
4.4.1.2 Effective utilization of resources
4.4.2 Market restraint analysis
4.4.2.1 Confidentiality risk
4.5 Industry Analysis - Porter's
4.6 LPO Company Market Share, 2014
4.6.1 Company market share analysis, 2014
4.7 Penetration &Growth Prospect Mapping
4.8 LPO - PESTEL Analysis
Chapter 5 Market Categorization 1: Location Estimates & Trend Analysis
Browse all Report of this category @ http://www.radiantinsights.com/catalog/technology-and-media
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email : sales@radiantinsights.com
visit our website : http://www.radiantinsights.com/
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
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