eDiscovery Market To Reach USD 20.9 Billion In 2025 | CAGR 11.8% - Forencis Research

Global eDiscovery Market: Key Highlights

• According to the new market research report “eDiscovery Market by Deployment Mode (Cloud, On-premises and Hybrid), by Component (Software, Services, and Solution), by End-user (Government, BFSI, Healthcare, Manufacturing), by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast (2018 to 2025)”, the global EDiscovery market is estimated to reach USD 20.9 Billion in 2025 at a CAGR of 11.8% during forecast period 2018-2025.
• Growing demand for digitalization, boost the demand and technologies would lead to the rising demand for handling digital data efficiently for faster availability of relevant information and data during legal cases are some of the factors which are expected to drive the eDiscovery market during the forecast period.
• However, increasing cost for eDiscovery platforms for the initial installation associated with e-Discovery is hampering the group of consumers or the organizations are expected to restrain the market during the forecast period.

Global eDiscovery Market: Key Market Dynamics

• Rising demand for litigation technology is expected to improve reviewing the data, collecting and preserving digital information, and sharing the information relating to the production of electronic documents which is expected to surge the eDiscovery market during the forecast period.
• Increasing cost of eDiscovery platforms increasing the scope for unique data types which contain collection, processing, and reviewing which may lead to an increase in the cost of eDiscovery.
• Rising demand for cloud infrastructure is expected to reduce the risks which can be very beneficial to the law firms. This approach can also make data ingestion much faster and easier within the cloud immediately.
• Limited resources availability and data storage issues can impact the growth of the market during the forecast period.

Global EDiscovery Market: Regional Overview

• Asia-Pacific

eDiscovery market is expected to grow significantly in the Asia-Pacific region. In the region, e-discovery rules are emerged in 2009. The increasing adoption of eDiscovery would lead to the rising demand for handling digital data efficiently for faster availability of relevant data during legal cases. The demand for e-discovery in the region is the highest in China. As region’s largest economy, China is expected to have a high number of investigations during the forecast period. However, the Asia-Pacific region has yet to implement a standardized process for conducting eDiscovery. Furthermore, Australia’s Practice Note 17 and Singapore’s Practice Direction Number 3 are spell out guidelines for dealing with e-discovery which are under litigations.

• North America

North America are projected to be the largest market for electronic discovery solutions. According to Exterro, the current market size of the e-discovery industry ranges from $9.2B to $10.8B annually where north America is over 80% of E-Discovery market with an annual revenue of $11.07B. California has the most recently regulated e-discovery laws in the US. US continues to hold in the global eDiscovery market scenario by software and solutions due to mandatory adherence to regulatory standards.

Hence, SMEs are adopting digital technologies at a rapid pace robust growth expected to boost the eDiscovery market in the region.

Global EDiscovery Market: Key Players Overview

• IBM Corporation:

IBM Corporation assists with legal discovery and helps you handle immediate litigation and investigation matters by enabling you to proactively search, manage, and export electronically stored information (ESI), including email and other business content. IBM supports eDiscovery a variety of content types Microsoft Exchange content, SAP artifacts and SMTP email.

• Nuix:

Nuix eDiscovery provide law firms and legal teams with the flexibility, and speed they need to address the problem. Nuix bring a unique visual approach which lets legal teams and law firm of any legal matter. Additionally, it quick and effective responses, review, data collection, and processing, while at the same time ensuring the secure the organization requires to avoid potential privacy issues.

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