Globalization is the major factor that drives the Europe LPO market growth. Companies are outsourcing these services globally to cater to the legal demand and help several enterprises. The process offers several advantages to the enterprises, which prefer services such as cost savings, round-the-clock availability, access to outside talent, and the ability to quickly scale-up or cut-back operations. Companies in the Europe LPO market perform the task of legal secretaries, lawyers, paralegals, and litigation support personnel, thereby benefiting the enterprises in saving additional legal costs. The players in the industry are targeting their services in the U.S. and the UK where the demand for these services is growing at a rapid pace.
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The Europe legal process outsourcing (LPO) market value exceeded USD 328 Million in 2017 and is expected to rise at a CAGR of over 29% from 2018 to 2024.
E-discovery services are experiencing a high demand in the Europe LPO market owing to the rise in demand for law firms in outsourcing activities such as legal advice. Electronic discovery provides documents with a large amount of data and information, which can be produced as an evidence. Several advantages offered by this service include cost saving and reducing efforts & time consumption. These services help in observing the case, collecting the information & evidences, and offering solutions to legal problems. The demand for these services in the Europe LPO market size is growing with the increasing expansion of multinational corporations and globalized business transactions.
Law firms are finding onshore service providers better equipped with information and data related to the countries’ laws and regulations than offshore providers, driving the demand for these service providers in the Europe LPO market. These firms believe that their data is more secured in the hands of onshore providers. The players are targeting these gaps and trying to combine onshore and offshore resources by expanding their businesses globally. European law firms and corporations prefer onshore providers owing to the several factors such as rising operational cost and changing European Union (EU) data protection laws.
The key players operating in the Europe LPO market are ADEC Group, Infosys Limited, LEX Outsourcing, Integreon Managed Solutions, Exigent, Cobra Legal Solutions, and Bodhi Global Services. They are the global players, which are outsourcing their services to several countries and regions. Several strategies are adopted by these companies in the Europe LPO market to cater to the demand of their customers. For instance, in June 2014. ADEC Group announced the start of its business operations in Kenya.
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The above information is provided for the following countries: