Asia Pacific Legal Process Outsourcing (LPO) Market To Perceive Substantial Growth of $29 bn by 2024

Asia Pacific legal process outsourcing (LPO) market value exceeded USD 2.8 Billion in 2017 and is growing at over 39% from 2018 to 2024

India - October 18, 2019 /MarketersMedia/ —

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. 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.

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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.

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Segments We Cover:

Asia Pacific LPO Market By Service
Contract drafting
Compliance assistance
Review & Management
Patent Support
Litigation Support

Asia Pacific LPO Market By Location

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About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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Name: Parikhit B.
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Organization: Graphical Research

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Source: MarketersMedia

Release ID: 88928964

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