Increasing awareness of business corporations to maintain their legal proceedings and high legal costs is driving the North America LPO market. The growing technical applications, such as enterprise-based software and website development & collaboration, account for the high utilization of these services over the forecast period. The major firms involved in providing LPO services are working towards providing expertise that aid in platform reviewing, ESI processing, and enhanced efficiency of the legal offerings. According to the Graphical Research new growth forecast report titled “North America (LPO) Legal Process Outsourcing Market analysis based on Service (Contract Drafting, Compliance Assistance, E-Discovery, Review & Management, Patent Support, Litigation Support), Location (Offshore, Onshore), Industry Report, Growth Analysis & Forecast, 2018 – 2024”, Estimated To Cross USD 5 Billion by 2024.
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Compliance assistance services in the North America LPO market has gained a high popularity in the recent years. Companies majorly outsource these services to save the overall operating cost which might increase when hiring an in-house employee. The cost is reduced when such services are outsourced from Asia Pacific countries as they offer cheaper services. such s. Outsourcing is a better alternative due to the benefits such as appropriate compliance solutions, easy processing of the legal formalities, and data confidentiality.
Onshore location services in the North America legal process outsourcing market is expected to dominate the region over the forecast period. The growth is attributed to the provision of attractive and efficient solutions through collaborations with organizations in the same jurisdiction. These services enhance the data security and confidentiality features provided to the customer organizations. They cover legal services related to banking laws, commercial laws, bankruptcy, civil rights & liberties, intellectual property laws, criminal defense, international business laws, and tax laws.
The key players present in the North America LPO market include CPA Global, Clairvolex, Evalueserve, Exigent, Integreon Managed Solutions, Legal Advantage, Infosys Limited, LEX Outsourcing, Lexplosion Solutions Pvt. Ltd., Mindcrest, and UnitedLex. The companies in North America LPO market are involved in providing efficient legal outsourcing services by employing skills in all types of legal proceedings.
Table of Content:
Chapter 1. Methodology & Scope
- Market scope & definitions
- Assumptions
- Research methodology
Chapter 2. Executive Summary
Chapter 3. Industry Insights
- Industry segmentation
- Industry ecosystem analysis
- Industry impact forces
- Growth drivers
- Growth restraints
- Regulatory overview
- Porter’s analysis
- PESTEL analysis
- Competitive landscape
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Segments we cover:
North America Legal Process Outsourcing Market Statistics, By Service
- Contract drafting
- Compliance assistance
- E-Discovery
- Review & Management
- Patent Support
- Litigation Support
- Others
North America LPO Market Analysis, By Location
- Offshore
- Onshore
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