LPO Market - Growth Analysis

1
www.managedoutsource.com
2
LPO Market Growth Analysis

• According to a recent market research report from
  Global Market Insights, Inc., the value of the
  Legal Process Outsourcing (LPO) Market is set to
  exceed USD 40 billion by 2024. Outsourcing legal
  activities allows businesses to manage workforce
  and time efficiently and helps them to focus
  completely on core business operations.

www.managedoutsource.com
3
Key Factors Driving the Growth of the LPO Market

• Increasing requirement for legal departments to
  manage process-oriented and high volume legal
  work
• Cost-efficiency
• Technological advancements such as the use of AI
  (Artificial Intelligence) by legal process
  outsourcing firms for data processing

www.managedoutsource.com
4
Major Challenge Impacting Market Growth

• Security concerns associated with the LPO model
  is the major challenge
• To address this, legal process outsourcing
  companies implement global standard
  certifications and processes, such as Six Sigma
  and ISO 27001

www.managedoutsource.com
5
Market Segments

• The service segment in this market includes
  e-discovery and patent support services.

• The e-discovery services market is expected to
  grow at a significant CAGR of over 40 from 2017
  to 2024.
• The patent support service segment is expected
  to witness growing demand due to the need to
  outsource qualitative tasks such as IP litigation
  and proofreading.

www.managedoutsource.com
6
Market Segments

• Based on location,

• The onshore market is to witness high growth in
  the future, as it is considered a comparatively
  safer alternative than outsourcing offshore.
• Onshore outsourcing also offers benefits such as
  shared regulatory framework, which streamlines
  business processes.

www.managedoutsource.com
7
We look forward to hearing from you. Call us for
a free outsourcing solutions consultation at
1-800-670-2809
Thank You !!!!
www.managedoutsource.com