Legal process outsourcing organization, National Legal Staffing Support, shares statistical commentary on the massive growth expected in the LPO industry and what is driving it.
March 25, 2021 /MarketersMedia/ —
National Legal Staffing Support, a Florida-based legal process outsourcing (LPO) provider, highlights the massive growth projected in the global legal process outsourcing industry by sharing supporting statistics and what’s fueling it.
National Legal Staffing Support caters to consumer protection law firms with world-class paralegal support and pre-litigation services. National Legal Staffing Support also offers a groundbreaking document management solution that saves time, money, and office space as well as streamlines work processes thanks to improved record security, efficient filing, and document retrieval.
In 2018, the value of the global legal process outsourcing (LPO) market size was 5.2 billion USD. Over the forecast period, LPO is anticipated to register a CAGR of 31.8 percent. The worldwide market projection of growth for LPO is 10.5 billion USD. This estimate is driven by a compounded growth of 20.7 percent. However, this boost reflects the potential to be over 24.3 percent by Patent Support, one of the divisions analyzed and measured in the study of the LPO market done by Reportlinker.
The United States represents the face for the LPO market’s development, upholding a 23.5% growth momentum. Germany will contribute over 331.9 million USD over the next five to six years. The remaining areas in Europe will have a projected demand for the LPO market worth over 486.1 million USD.
The LPO market is driven by outsourcing non-core tasks and enterprise partiality for focusing on their core businesses. Another key driving factor for this industry is various businesses taking the lead on reducing overhead costs with actions such as downsizing the number of employees. Situations like the increase of real estate prices worldwide, especially in metropolitan cities, and the decrease of available space for businesses continue as the growing population and ongoing urbanization and migration sustain. Organizations are responding to this element by seeking outsourcing options for their non-core tasks, limiting staff strength.
Choosing to outsource legal processes to an organization such as National Legal Staffing Support will give firms access to a dedicated team that supports the growth of a firm’s practice without increasing overhead. National Legal Staffing Support is considered the go-to solution for managing the fluctuations in demand for legal services. With this LPO provider, law firms do not have to sacrifice the standard of client care in order to regain control of their caseloads.
For more information about National Legal Staffing Support and its services, or to schedule a consultation, visit their website at https://www.nationallegalstaffsupport.com/.
About National Legal Staffing Support
National Legal Staffing Support is a pioneer and leading provider of legal process outsourcing. Located in Boca Raton, Florida, the company offers front- and back-office support to experienced consumer protection attorneys that specialize in debt resolution. National Legal Staffing Support offers paralegal services, document management solutions, pre-litigation support, pre-filing analysis, research, and client communication management.
Name: Jonathan Sabia
Email: Send Email
Organization: National Legal Staffing Support
Address: 1515 South Federal Highway, Suite 113 Boca Raton, Florida 33432
Phone: (877) 212-6920
Release ID: 89002577