$ 16.01 Billion growth expected in Legal Process Outsourcing Market | 30.51% YOY growth in 2020 amid COVID-19 Spread | North America to Notice Maximum Growth | Technavio
NEW YORK, May 4, 2021 /PRNewswire/ --
The global legal process outsourcing market by service (contract management, E-discovery services, litigation support, legal research, and others) and geography (North America, Europe, APAC, South America, and MEA) has been added to Technavio's offering. The global legal process outsourcing market is expected to grow by USD 16.01 billion, at a CAGR of over 32% during 2020-2024.
The imposition of lockdowns owing to the outbreak of the COVID-19 pandemic has globally impacted several IT start-up companies in the market. However, the market has witnessed a surge in the demand for LPO services that provide low-cost business strategic reform laws and effective services despite the ongoing pandemic. This is expected to contribute to the growth of the market during the forecast period.
The market is expected to be driven by factors such as regulatory compliances, cost reduction and enhanced efficiency of legal processes, and the proliferation of risk management practices.
The report also offers information on the upcoming trends and challenges that will influence market growth.
Legal Process Outsourcing Market: Opportunities
Legal Process Outsourcing Market: Segmentation by Service
Legal Process Outsourcing Market: Segmentation by Geography
One of the fortune 500 companies had used the detailed research report on the legal process outsourcing market and had decided to increase their market share in the North American region which offers the highest market opportunities during the forecast period.
Explore more about market opportunities: Enquire about the report before purchasing
Legal Process Outsourcing Market: Major Vendors
Cobra Legal Solutions LLC
Exigent Group Ltd.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the legal process outsourcing market report:
Market Player Information
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Five Forces Analysis
Market Segmentation by Service
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