Dublin, Oct. 04, 2022 (GLOBE NEWSWIRE) — The “Legal Process Outsourcing – Global Market Report 2022” Report has been added ResearchAndMarkets.com Offer.

The global legal process outsourcing market is forecast to grow from US$9.42 billion in 2021 to US$11.78 billion in 2022 at a compound annual growth rate (CAGR) of 25.10%. The legal process outsourcing market is expected to reach $30.26 billion in 2026 at a CAGR of 26.59%.

Asia Pacific was the largest region in Legal Process Outsourcing Market in 2021. Western Europe is projected to be the fastest growing region during the forecast period. The regions covered in Legal Process Outsourcing Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The high demand for legal aid is expected to drive the legal process outsourcing market. Due to various reasons like job problems, increasing financial hardship, domestic violence protection orders, various debt issues, strict laws and others, legal aid is in high demand. This increasing need for legal advice will lead to a high demand for legal services including legal process outsourcing as even standalone companies cannot cope with the increasing demand for legal services and they have to outsource the legal services. Legal process outsourcing, in addition to providing legal assistance, enables knowledge sharing and reduces costs for companies.

For example, according to Deloitte’s 2020 Legal Strategy Survey of Chief and Senior Legal Officers, 78% of respondents indicated that the legal workload has increased due to COVID-19. Over 50% of all respondents expect to see increased engagement with Alternative Legal Service Providers (ALSPs), whether or not they were part of their model prior to COVID-19.

Additionally, according to the US Bureau of Labor Statistics, paralegal and paralegal job needs are expected to grow 12% from 2020 to 2030, which is faster…