Report: Legal Process Outsourcing India (LPO) Market Analysis and Segment Forecasts to 2020
Legal process outsourcing allows in-house legal counsel/ law firms/ solo practitioner to work on tasks which are high-value in nature, thus enhancing profitability. Further unanticipated legal activities can be effectively handled; LPO also helps to control or keep in limit overall external spending. Data Security and confidentiality issues were the main barriers to legal outsourcing to India; however, these can be resolved with the help of strong service level agreements (SLA) among other techniques.The international legal process outsourcing (LPO) market is expected to grow USD 8,568.5 million by 2020. Cost effectiveness & quality through outsourcing repetitive legal activities is expected to be the may cause growth for the market over the next six years. Additionally, LPO facilitates higher resource utilization and stability, which is also expected to fuel industry growth over the forecast period.
Additional main observation:
– Offshore LPO refers to outsourcing to service providers in foreign jurisdictions. Main offshore locations include India, the Philippines and South Africa. On-shore outsourcing is expected to pick up speed over the forecast period, since it is considered a more convenient option as opposed to outsourcing offshore. It also provides advantage of a shared regulatory framework, which makes easy business processes.
– e-discovery has the largest market share of over 25% in 2013. Law firms aim to outsource activities which are low-value service, so as to target tasks such as giving strategic legal advice. Organizations prefer to handle core tasks, and outsource transactional activities that do not need specialized knowledge and experience Intellectual property rights (IPR) support, litigation support, contract drafting and review are also being outsourced.
– Law firms of U.S. and UK outsource business to domestic markets or emerging markets of Asia Pacific. Offshore outsourcing to countries such as India provides advantages in terms of low cost, and tasks such as IP processes, document analysis and legal research are generally outsourced there.