Legal services offshoring grows by 50% CARG since 2005

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A recently released report by ValueNotes estimates that the current Indian revenues from legal services offshoring are slated to grow from $146 million for the calendar year 2006 to reach $640 million by end 2010. The industry employed around 7,500 people in the legal offshoring space in India as of end 2006. The number of employees is expected to reach 32,000 by end 2010.

 

Legal services offshoring includes a wide range of services. The eight broad areas include: Legal transcription, Document review, Litigation support, Legal research, Intellectual Property, Contracts, Secretarial and Legal publishing services.

 

The Indian vendor space has over 100 service providers that can be categorized into three groups: Captive centers of corporates, Third party - Niche service providers (Stand-alone LPOs) and Third party - Multiservice providers. Third party vendors dominate the LPO space by employing the majority of the workforce in the sector. However, vendors with niche focus and multi-service providers differ distinctly in terms of service offerings and capability.

 

The Legal services outsourcing industry has grown at 50% CARG through 2005-06. This growth has been driven primarily by increasing demand, vendor maturity and capability of vendors to offer higher value services. Based on our exhaustive primary research and analysis of this sector, ValueNotes has identified a "List of frontrunners" which includes Evalueserve, Integreon, OfficeTiger, CPA Global, Mindcrest, Pangea3 and Quislex. We have also identified ''Emerging players'' that have potential to emerge as winners within their chosen niches. These include players like LawScribe, New Galexy, SDD Global Solutions, Tusker Group, Aptara, Lason and Quattro BPO.

 

According to Arun Jethmalani, CEO, ValueNotes, "While most vendors start by offering lower value services and gradually move up the value chain by demonstrating domain skills and gaining client confidence, there are others who focus on specific high-end services or niches." Adds Neeraja Kandala, analyst and co-author of the report, "High volume services like Document review, eDiscovery, Legal publishing as well as niche areas in Intellectual Property and Contract services will drive future growth in legal services offshoring."

 

The ValueNotes report: "Offshoring Legal Services to India: An Update" provides an in-depth information and analysis of the Indian vendor space along with vendor profiles of all major and upcoming players.

 

Sourced From: ValueNotes Outsourcing Practice