eDiscovery Market: Global Industry Analysis and Key Trends, Market Growth (2021-2027)

eDiscovery Market size was valued at US$ 9.30 Bn. in 2020 and the total revenue is expected to grow at 6.62 % through 2021 to 2027, reaching nearly US$ 14.57 Bn.

eDiscovery Market Overview:

E-discovery (also known as e-discovery) is an electronic aspect in which data/information is identified, collected, and generated for the purpose of using it as evidence in legal cases. Digital data is great for investigations because it can be searched efficiently electronically, while paper documents need to be checked manually. The eDiscovery market is served by three groups of providers: service providers, software vendors, and law firms. The ultimate buyers of eDiscovery solutions are government agencies, enterprises (IT and legal teams), and regulatory agencies. In addition, law firms and service providers provide services but are also software consumers. Software vendors provide services to service providers and buyers of electronic data display solutions. The volume of electronic data is expected to increase more than fivefold by 2020, rising from 4.4 zettabytes in 2013 to 44 zettabytes. eDiscovery Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysed specially with the impact of lockdown by region.

Global eDiscovery Market Dynamics:

Rapid digitization and the increasing popularity of Internet of Things (IoT) devices are one of the key factors driving the market growth. The widespread adoption of the Internet of Things and cloud computing systems has significantly enhanced the generation of digital data, thereby increasing the demand for e-discovery solutions for accessing and restoring traces of information. In addition, various government organizations extensively use these systems to enhance compliance, translation, and data security, which has also promoted market growth. The litigation is now mainly based on large amounts of electronic data retrieved using e-discovery solutions. Laws and government organizations pay more attention to simplifying their operations and minimizing operating costs by adopting advanced technologies, which has had a positive impact on market growth. Other factors, including the increasing number of electronically stored information and increasing cases of felony, such as money laundering and tax fraud, are expected to further drive the market. The majority of Fortune 1000 corporations currently spend between USD 5 million and USD 10 million on e-discovery each year, according to the RAND Corporation. Furthermore, by 2020, the volume of data created and copied annually is expected to exceed around 50 zettabytes (50 trillion gigabytes), boosting the demand for e-discovery solutions. Artificial Intelligence (AI) is gradually transforming the legal profession, and advances in AI-based analytics are likely to accelerate and improve the quality of eDiscovery processes. Analytics is a technique for detecting and evaluating relevant trends in data. Analytics aids in the management of expanding data volumes, the processing of new data types such as multimedia, social, and BYOD data, the monitoring of eDiscovery expenses, and conformance with new legislation. Predictive coding is essentially a machine learning (ML) approach that uses computer algorithms and software to self-learn which documents are important to litigation. A review of test documents is used to self-learn the reasoning required for eDiscovery. On the other hand, existing concerns about high prices in electronic discovery, as well as a lack of understanding about the effects of the solutions, are important market restraints. eDiscovery Market Market Trends: Currently, two major trends are having a big impact on e-discovery. First, organisations are confronted with a flood of fragmented data in separate archives. At the same time, corporate legal teams are looking for ways to improve the efficiency of their departments. Not surprisingly, e-discovery is a popular target for cost-cutting measures. Cost is “annoying" feature of e-discovery for 94 percent of corporate counsel, according to the research, with 57 percent of in-house counsel spending more than $1 million per year on e-discovery. However, 79 percent of those polled reported bringing work in-house. However, as legal teams strive to manage the risk of this vast data universe, they discover that easily available technical solutions to e-discovery issues are not always enough. Today's discovery processes are becoming increasingly unsustainable as present solutions cannot affordably manage the challenge of continually expanding data quantities. The majority of e-discovery software is built with a fixed processing capability in mind. As more data is pushed through, e-discovery processes become more time-consuming and expensive, as legal teams must either invest in more on-premise processing power or pay more on outsourcing e-discovery processing to match the expanding data quantities.

Global eDiscovery Market Segment Analysis:

Based on the Component, the global eDiscovery market is sub-segmented into Solutions and Services. The Solutions segment held the largest market share of xx% in 2020. The GDPR and US privacy regulations, as well as the growing volume of data created, have increased the pressure on businesses to use eDiscovery tools. Furthermore, the threat of eDiscovery-related lawsuits pushes organisations to use eDiscovery solutions. eDiscovery systems with advanced analytical capabilities provide businesses with more accurate and usable data insights, particularly during the early case appraisal phase. In addition, to deal with existing systems, eDiscovery vendors are developing solutions that can interact with a variety of systems and match any IT infrastructure, making implementation easier, faster, and more cost-effective. eDiscovery MarketBased on the Vertical, the global eDiscovery market is sub-segmented into Government and Public Sector, Legal, BFSI, Energy and Utilities, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, IT and Telecommunications, and Others. The Government and Public Sector segment led the eDiscovery market with a market share of around xx% in 2020 and it is expected to grow at a higher CAGR of xx% in the global eDiscovery market during the forecast period. Government agencies all across the world have acknowledged the importance of electronic records in various investigations. Various institutions, like the United States Department of Justice's Civil Division, have insisted on the impotence of such computerised documents. When it comes to the foundation of new enterprises, for example, governments have a variety of regulations that must be followed. The recent instance of the "Paradise papers" highlights the need for e-discovery in governmental institutions for identifying various offenses committed, such as money laundering, tax fraud, and so on.

Global eDiscovery Market Regional Insights:

North America held the largest market share of xx% in 2020. Because it is an early user of current technology and has highly severe compliance rules, the North America area is progressively adopting eDiscovery solutions. Furthermore, firms in this region have implemented eDiscovery solutions to govern cybersecurity and data breaches, deal with cross-border jurisdictional differences and privacy concerns, manage investigation matters and litigation, and maintain standards to satisfy all discovery requirements. North America is further subdivided into the United States and Canada. The United States is estimated to be the largest revenue contributor to the North American eDiscovery industry. Asia Pacific is expected to grow at a highest CAGR of xx% in the global eDiscovery market during the forecast period. SMEs are rapidly adopting digital technology, resulting in massive data generation. As usage grows, so will the necessity for efficiently handling digital data in order to provide relevant data more quickly during legal proceedings. The objective of the report is to present a comprehensive analysis of the global eDiscovery Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the global eDiscovery Market dynamic, structure by analyzing the market segments and project the global eDiscovery Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global eDiscovery Market make the report investor’s guide.

Global eDiscovery Market Scope: Inquire before buying

Global eDiscovery Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 9.30 Bn.
Forecast Period 2021 to 2027 CAGR: 6.62 % Market Size in 2027: US $ 14.57 Bn.
Segments Covered: by Component • Solutions • Processing, Review, and Analysis • Identification, Preservation, and Collection • Production and Presentation • Services • Managed Services • Maintenance and Support • Training, Consulting, and Integration
by  Organization Size • Large Enterprises • Small & Medium Enterprises (SEMs)
by Deployment Type • Cloud • On-premises
by Vertical • Government and Public Sector • Legal • BFSI • Energy and Utilities • Healthcare and Life Sciences • Retail and Consumer Goods • Manufacturing • IT and Telecommunications • Others

Global eDiscovery Market, by Region

• North America • Europe • Asia Pacific • South America • Middle East and Africa

Global eDiscovery Market Key Players

• Access Data • Advanced Discovery • Catalyst • Cloud Nine • Commvault • Conduent • Deloitte • Driven • Epiq • FRONTEO • FTI • IBM • Ipro • KLDiscovery • Lighthouse • Logikcull • Micro Focus • Microsoft • Nuix • OpenText • Relativity • Ricoh • Thomson Reuters • Veritas • ZyLAB Frequently Asked Questions: 1] What segments are covered in eDiscovery Market report? Ans. The segments covered in eDiscovery Market report are based on Component, Organization Size, Deployment Type and Vertical. 2] Which region is expected to hold the highest share in the global eDiscovery Market? Ans. North America is expected to hold the highest share in the global eDiscovery Market. 3] What is the market size of global eDiscovery Market by 2027? Ans. The market size of global eDiscovery Market by 2027 is US $ 14.57 Bn. 4] Who are the top key players in the global eDiscovery Market? Ans. Access Data, Advanced Discovery, Catalyst, Cloud Nine, Commvault and Conduent are the top key players in the global eDiscovery Market. 5] What was the market size of global eDiscovery Market in 2020? Ans. The market size of global eDiscovery Market in 2020 was US $ 9.30 Bn.
1. Global eDiscovery Market: Research Methodology 2. Global eDiscovery Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global eDiscovery Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global eDiscovery Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global eDiscovery Market Segmentation 4.1 Global eDiscovery Market, by Component (2020-2027) • Solutions o Processing, Review, and Analysis o Identification, Preservation, and Collection o Production and Presentation • Services o Managed Services o Maintenance and Support o Training, Consulting, and Integration 4.2 Global eDiscovery Market, by Deployment Type (2020-2027) • Cloud • On-premises 4.3 Global eDiscovery Market, by Organization Size (2020-2027) • Large Enterprises • Small & Medium Enterprises (SEMs) 4.4 Global eDiscovery Market, by Vertical (2020-2027) • Government and Public Sector • Legal • BFSI • Energy and Utilities • Healthcare and Life Sciences • Retail and Consumer Goods • Manufacturing • IT and Telecommunications • Others 5. North America eDiscovery Market(2020-2027) 5.1 Global eDiscovery Market, by Component (2020-2027) • Solutions o Processing, Review, and Analysis o Identification, Preservation, and Collection o Production and Presentation • Services o Managed Services o Maintenance and Support o Training, Consulting, and Integration 5.2 Global eDiscovery Market, by Deployment Type (2020-2027) • Cloud • On-premises 5.3 Global eDiscovery Market, by Organization Size (2020-2027) • Large Enterprises • Small & Medium Enterprises (SEMs) 5.4 Global eDiscovery Market, by Vertical (2020-2027) • Government and Public Sector • Legal • BFSI • Energy and Utilities • Healthcare and Life Sciences • Retail and Consumer Goods • Manufacturing • IT and Telecommunications • Others 5.5 North America eDiscovery Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific eDiscovery Market (2020-2027) 6.1. Asia Pacific eDiscovery Market, by Component (2020-2027) 6.2. Asia Pacific eDiscovery Market, by Deployment Type (2020-2027) 6.3. Asia Pacific eDiscovery Market, by Organization Size (2020-2027) 6.4. Asia Pacific eDiscovery Market, by Vertical (2020-2027) 6.5. Asia Pacific eDiscovery Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa eDiscovery Market (2020-2027) 7.1 Middle East and Africa eDiscovery Market, by Component (2020-2027) 7.2. Middle East and Africa eDiscovery Market, by Deployment Type (2020-2027) 7.3. Middle East and Africa eDiscovery Market, by Organization Size (2020-2027) 7.4. Middle East and Africa eDiscovery Market, by Vertical (2020-2027) 7.5. Middle East and Africa eDiscovery Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America eDiscovery Market (2020-2027) 8.1. Latin America eDiscovery Market, by Component (2020-2027) 8.2. Latin America eDiscovery Market, by Deployment Type (2020-2027) 8.3. Latin America eDiscovery Market, by Organization Size (2020-2027) 8.4. Latin America eDiscovery Market, by Vertical (2020-2027) 8.5. Latin America eDiscovery Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European eDiscovery Market (2020-2027) 9.1. European eDiscovery Market, by Component (2020-2027) 9.2. European eDiscovery Market, by Deployment Type (2020-2027) 9.3. European eDiscovery Market, by Organization Size (2020-2027) 9.4. European eDiscovery Market, by Vertical (2020-2027) 9.5. European eDiscovery Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Access Data 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Advanced Discovery 10.3. Catalyst 10.4. Cloud Nine 10.5. Commvault 10.6. Conduent 10.7. Deloitte 10.8. Driven 10.9. Epiq 10.10. FRONTEO 10.12. FTI 10.13. IBM 10.14. Ipro 10.15. KLDiscovery 10.16. Lighthouse 10.17. Logikcull 10.18. Micro Focus 10.19. Microsoft 10.20. Nuix 10.21. OpenText 10.22. Relativity 10.23. Ricoh 10.24. Thomson Reuters 10.25. Veritas 10.26. ZyLAB

About This Report

Report ID 13757
Category Information Technology & Telecommunication
Published Date Nov 2021
Updated Date
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