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LPO Market - Growth Analysis

The global legal process outsourcing (LPO) market is set to exceed USD 50 billion by 2024; an insight into global LPO market:

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LPO Market - Growth Analysis

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  1. www.managedoutsource.com

  2. LPO Market – Growth Analysis According to a recent market research report from Global Market Insights, Inc., the value of the Legal Process Outsourcing (LPO) Market is set to exceed USD 40 billion by 2024. Outsourcing legal activities allows businesses to manage workforce and time efficiently and helps them to focus completely on core business operations. www.managedoutsource.com

  3. Key Factors Driving the Growth of the LPO Market Increasing requirement for legal departments to manage process-oriented and high volume legal work Cost-efficiency Technological advancements such as the use of AI (Artificial Intelligence) by legal process outsourcing firms for data processing www.managedoutsource.com

  4. Major Challenge Impacting Market Growth Security concerns associated with the LPO model is the major challenge To address this, legal process outsourcing companiesimplement global standard certifications and processes, such as Six Sigma and ISO 27001 www.managedoutsource.com

  5. Market Segments • The e-discovery services market is expected to grow at a significant CAGR of over 40% from 2017 to 2024. • The patent support service segment is expected to witness growing demand due to the need to outsource qualitative tasks such as IP litigation and proofreading. The service segment in this market includes e-discovery and patent support services. www.managedoutsource.com

  6. Market Segments • The onshore market is to witness high growth in the future, as it is considered a comparatively safer alternative than outsourcing offshore. • Onshore outsourcing also offers benefits such as shared regulatory framework, which streamlines business processes. Based on location, www.managedoutsource.com

  7. We look forward to hearing from you. Call us for a free outsourcing solutions consultation at 1-800-670-2809 Thank You !!!! www.managedoutsource.com

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