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...