ResearchAndMarkets.com has made its “Legal Process Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report available to the public to provide oversight on the markets and trends of Legal Process Outsourcing (LPO).
According to the research study, the LPO global market as of 2021 is valued at $11.61 billion. The company anticipates the market will reach a value of $61.71 billion by 2027.
An LPO "is a practice adopted by a law firm or corporation to acquire legal support services from an offshore service provider," according to a Business Wire press release. The emergence of several outsourcing companies partnered with the ability for those companies to provide significant cost reductions has allowed for the market to gain increasing awareness and use.
Key topics that are covered in the report include industry trends, market performance and the impact of COVID-19, as well as the future forecast of the industry. The report also breaks up the outsourcing companies by location, services, size, price analysis and other categories.
According to the release, the report answered the following questions: “How has the global legal process outsourcing market performed so far, and how will it perform in the coming years? What has been the impact of COVID-19 on the global legal process outsourcing market? What are the key regional markets? What is the breakup of the market based on the location? What is the breakup of the market based on the services? What is the breakup of the market based on the organization size? What is the breakup of the market based on the end-use industry? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global legal process outsourcing market and who are the key players? What is the degree of competition in the industry?”
Companies mentioned in the report are Clairvolex, Clarivate, Cobra Legal Solutions LLC, Elevate Services Inc., Ernst & Young Global Limited, Infosys Limited, Integreon Inc., Lex Outsourcing, Mindcrest Inc. (DWF Group), Morae Global Corp., QuisLex Inc. and UnitedLex Corp.
The report can be found at ResearchAndMarkets.com.