eDiscovery Market

eDiscovery Market is anticipated to rise at USD 14,660 Million by 2027 at a CAGR of 6.3% during the forecast period.

Introduction of the eDiscovery Market Report

eDiscovery refers to any process in which information is collected, identified, and produced at the same time and is electronically stored. eDiscovery can be carried out on a network or on a particular computer. Government sanctioned or court-ordered hacking for the purpose of obtaining any important evidence is also a type of eDiscovery. Thus with the growing trend of ever-increasing usage of social media platforms such as Facebook, Twitter, and LinkedIn are expected to drive the eDiscovery market size.

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Market Dynamic

Key Drivers and eDiscovery Market Trends

The growing adoption of devices and digital technologies across organizations for data storage in electronic format is expanding. Large corporations are totally dependent on ESI (Electronically Stored Information) for computing mails, data storage, cloud computing resources, social networking, and others, which is uplifting the market’s trajectory. According to RAND corporation, most of the fortune corporations like Microsoft, IBM, etc. spend US$ 5 million to US$ 10 million annually on eDiscovery. Additionally, by the end of 2020, data copied and created is expected to reach around 50 zettabytes, which is further surging the demand for eDiscovery solutions. The eDiscovery market analysis states that the need to raise the bar in data governance standards by the large and medium-sized organizations is one of the emerging market trends that is contributing to the growth of the eDiscovery market share.

For more efficient outcomes, traditional eDiscovery solutions have been developed with new Services like intelligent information platforms to manage and capture new data. As per the eDiscovery market research, various factors, including increased work efficiency, work productivity, and reduced overall cost of data management, which empowers the adoption of eDiscovery solutions, will further create market development in the eDiscovery industry.

Restraint in the eDiscovery Market

As per the eDiscovery overview, the rising number of cyberattacks and breaches is a major factor that is hampering the growth of the market. For instance, according to PurpleSec LLC in U.S. the number of cyber-attacks is growing by 27% annually on operational technology.

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Service – Segment Analysis

Based on the Service, managed service is expected to dominate the eDiscovery market over the forecast period. eDiscovery demand is highly adopted by most of law firms. Most law firms don’t want to invest in the infrastructure and the software of eDiscovery, so they prefer managed service in which they are assigned with a manager, which helps them strategically plan how to execute with the data collection, production, and review. By this process, the firms do not need to invest in more capital in this managed service, which is driving the overall growth of the market.

End User – Segment Analysis

Based on the End User, the government segment is expected to dominate the market over the forecast period. Government federal agencies are moving towards the cloud for effective investigations, examinations, and litigation. Key players in the market are offering products specifically for meeting government demands. For instance, Logikcull is offering eDiscovery solutions for government investigation in tracking criminal conspiracies. Adopting eDiscovery by the U.S. government is one of the major factors that propels the growth of the market.

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Regional – Segment Analysis:

Based on the region, the North America region is expected to dominate the eDiscovery market over the forecast period. Adopting eDiscovery by the U.S. government is one of the major factors that is surging the growth of the market in the region. Case faced by U.S. government, such as accusations against 19 defendants participating in a criminal conspiracy, has been side-tracked. This was done by providing 200 TB of data, out of which only 8TB was relevant to the case and even 8TB was not relevant format to search. Such cases prove the importance of eDiscovery for the government. Furthermore, rise in the adoption of cloud-based solutions due to COVID-19, remote working has increased over time, which has created a huge demand for the eDiscovery market.

eDiscovery Market Leaders

Various notable players operating in the market include Microsoft, IBM, Open Text Corporation, Deloitte, Micro Focus, ZyLAB, NUIX, Logikcull, Epiq, and Xerox Corporation, among others. 

Key Developments:

• • In 2020, Epiq officially launched Next-gen e-discovery managed services for defensible results. This product launch helped the company in expanding the product portfolio of the company. With this technology more consumers will be attracted which will help in generating more revenue from the focused product line.

Segments covered in the Report:

The global e-discovery market has been segmented on the basis of service, end user, and regions. Based on service, the market is segmented into professional services and manged services. Based on end user, the market is segmented into government, IT and telecommunication, healthcare, media and entertainment and others. 

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Key questions answered in this research report:

• • At what pace is global eDiscovery market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in eDiscovery market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global eDiscovery market?
  • Which service generated maximum revenues in 2019 and identify the most promising service during the forecast period?
  • What are the various end user areas of global eDiscovery market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global eDiscovery Market by Service

• • Professional Services
  • Managed Services

Global eDiscovery Market by End User

• • Government
  • IT and Telecommunication
  • Healthcare
  • Media and Entertainment
  • Others

Global eDiscovery Market by Region

• • North America eDiscovery Market (Option 1: As a part of the free 25% customization)

    • North America Market by Service
    • North America Market by End User
    • US Market All-Up
    • Canada Market All-Up

  • Europe eDiscovery Market (Option 2: As a part of the free 25% customization)

    • Europe Market by Service
    • Europe Market by End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific eDiscovery Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Market by Service
    • Asia-Pacific Market by End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW eDiscovery Market (Option 4: As a part of the free 25% customization)

    • RoW Market by Service
    • RoW Market by End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the eDiscovery (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Microsoft
  • IBM
  • Open Text Corporation
  • Deloitte
  • Micro Focus
  • ZyLAB,
  • NUIX
  • Logikcull
  • KLDiscovery
  • Xerox Corporation