Europe Legal Process Outsourcing Market size surpassed USD 800 million in 2020 and is projected to exhibit a CAGR of 16% between 2021 and 2027.
The expanding corporate sector along with a rising number of SMEs will fuel the demand for affordable LPO services. The changing laws concerning employee leaves, corporate taxes, and work policies have encouraged both SMEs and large corporate organizations to outsource their legal activities. SMEs with budgetary constraints outsource their legal tasks to countries in Asia Pacific to gain access to affordable services and high-quality work. The high cost of legal services in Europe is encouraging several companies to outsource their legal tasks to countries, such as South Africa and the Philippines, to obtain high-quality and cost-effective legal services. With corporate organizations focusing on complying with stringent government laws, the Europe LPO market will gain traction.
Get more details on this report - Request Free Sample PDF
The coronavirus (COVID-19) pandemic negatively impacted the LPO market growth in the first half of 2020 due to the lockdowns imposed by government administrations globally. International businesses paused their business expansion plans due to uncertainties in the global economic conditions and restrictions imposed on travel. The stagnancy in new product launches, R&D operations, patent filings, and international trade hampered the demand for legal services. The market growth was also impacted by a decline in the number of mergers & acquisitions. The industry will regain traction in 2021, following relaxations in the lockdowns coupled with the normal resumption of all industrial activities.
Europe Market, By Service
E-discovery service segment will observe massive growth during the forecast period, as the technique is vital to produce electronically stored data during litigation or investigation. E-discovery services are complicated owing to the tremendous amount of electronic data produced and stored due to the advent of digitalization across all sectors. There is a sharp rise in the amount of electronic data generated over recent years due to proliferating digital technologies. Increasing penetration of digitalization in the Europe legal sector will encourage lawyers to search for innovative ways to process, store, copy & produce altered digital records for evidence in legal proceedings.
Competitive Industry Landscape
Major players operating in the Europe Legal Process Outsourcing market include ADEC Innovation, Capgemini SE, Clairvolex, Cobra Legal Solutions, Exigent, Evalueserve, Integreon Managed Solutions, Quislex, and Morae Global Corporation.
Industry participants are focusing on strengthening their global presence and expanding market reach. For instance, in April 2021, Evalueserve inaugurated an office in Romania to extend its business operations in Europe. The company aims to offer improved services to clients in the region. Regional expansion to solidify market position forms a key strategy amongst players.