According to the Graphical Research new growth forecast report titled “Asia Pacific Legal Process Outsourcing (LPO) Market Size By Service, By Location, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024”, estimated to exceed USD 29 billion by 2024.
Growing adoption of internet activities and online availability of the information are boosting the demand for the LPO market in Asia Pacific. It helps the service providers in gathering the information, analyzing the case, and collecting the witnesses to provide effective solutions to their clients. These clients are provided with online reports, documents, and data, which help them in solving their legal issues. These online services allow the companies to incur lesser costs compared to the costs associated with hiring legal advisors, lawyers, and litigation personnel. The corporate sector in the region is adopting various technologies for better connectivity and operations driving the Asia Pacific LPO market growth.
The adoption of e-discovery services is growing at a rapid pace in several countries with the ease in discovery of the cases and information related to it. These services help the providers in delivering the documents and evidence in electronic formats, benefiting the clients in accessing the information easily. Countries including India, China, and Japan have a strong presence of service providers in the Asia Pacific LPO market. Outsourcing activities of the region are growing rapidly with the increase in the demand for the electronic media-based services.
Onshore providers of legal services are experiencing a high demand in comparison with the offshore players in the Asia Pacific LPO market. Enterprises that are in need of these legal services prefer onshore players. These players are well equipped with the information, rules, laws, policies, and regulations of the country and can communicate in a better manner to the firms. Cost-effectiveness is a major factor that is generating a high demand for these services in the Asia Pacific LPO market.
Key players operating in Asia Pacific LPO market are Clutch Group, Bodhi Global Services (P) Ltd., CPA Global Ltd, Integreon Managed Solutions, Inc., Datascribe LPO, Pangea3, Cobra Legal Solutions, LLC. and Infosys Limited. The players are focusing on large enterprises, which generate a high demand for these services. These enterprises hire lawyers, advisors, and consultants to solve their legal issues and cases. Several strategies are adopted by the players in the Asia Pacific LPO market to target the growing demand of the clients. For instance, in February 2017, Integreon expanded its LPO operations in India by joining Rachita Maker, which will handle its LPO operations in India.
Segments We Cover:
Asia Pacific LPO Market By Service
- Contract drafting
- Compliance assistance
- E-Discovery
- Review & Management
- Patent Support
- Litigation Support
- Others
Asia Pacific LPO Market By Location
- Offshore
- Onshore
Source : https://www.graphicalresearch.com/industry-insights/1006/apac-lpo-market
