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Market Summary

The global eDiscovery market is forecast to reach USD 25.75 Billion by 2026, according to a new report by Reports and Data. The application of eDiscovery and advanced technologies allow organizations to pull information and records from the huge volume of available data, and includes emails, and also eliminates exact copies to reduce the cost and effort of reviewing the remaining content.

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Factors affecting the growth of the market are the emergence of new content source, focus on proactive governance with data analytics, the need to reduce the operational budget of the legal team, increase in the number of complaints and penetration of internet and IoT among big enterprises. With an increase in the adoption rate of IoT and big data among enterprises, the market is forecasted to gain traction during the forecast period.

The explosion in the amount of data being generated in today’s world and its impact on the legal system is faced by both law firms and small practices. With the advent of technology, new challenges have surfaced, such as the huge amount of data, but eDiscovery makes it easier to gather and analyze that information. Several technologies, such as artificial intelligence and machine learning, need to be used to understand and analyze these data.

North America held the largest market share of 64.3% in the year 2018, with a CAGR of 7.3% during the forecast period. The region is well-established and has a high rate of adoption of technology owing to advanced IT infrastructure, standardized regulations, and the presence of key companies.

Key Coverage of the Report

Region and country wise statistics of the global eDiscovery market from the period 2016-2026. While 2016 & 2017 has been utilized as historical data, 2018 is considered the base year. 2019-2026 have been derived as forecasts.

Estimation of the market size along with historical and forecasted trend analysis.

Various product types available for the eDiscovery market have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.

Share of components, including software and services, has been estimated.

Regional up-coming research and application outlook.

Regional prevalence has been mapped.

Demand and Supply GAP Analysis

Regional Competitors Pricing Strategy

eDiscovery market share analysis of the top industry players

Strategic recommendations for the new entrants

Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

Strategic recommendations in key business segments based on the market estimations

Competitive landscaping mapping the key common trends

Company profiling with detailed strategies, financials, and recent developments.

Salient Trends of the eDiscovery Market

The proliferation of IoT and big data, cloud analytics, edge computing, and related technologies, among the enterprises, is expected to increase the demand for eDiscovery market is and is expected to gain huge traction.

Advancement in technology has improved the eDiscovery software market. Basic eDiscovery technology is expected to redact documents manually, whereas some of the best eDiscovery software recognizes patterns and redact critical and sensitive information automatically.

eDiscovery is no more about achieving the bare minimum standards, such as data preservation. It is rapidly becoming important for litigators who want to maintain a competitive edge in the global market.

With nations such as Canada, Singapore, Japan, and Italy wanting to implement eDiscovery guidelines, there is an international demand for the market.

Development in areas such as DNA identification, and criminal forensics has made quite an impact on legal process and litigation. A higher degree of automation on documents and technological advancement have made the process more important and widespread.

Adoption of cloud computing is gaining momentum, but with high profile trends comes high profile risks. Transmission of the firm’s eDiscovery functions to the cloud requires complex navigation and raise issues that can potentially affect the firm’s security and exposing the client to unnecessary liability.

Companies considered and profiled in this market study

Microsoft, IBM, AccessData, Opentext, Catalyst, Micro Focus, Conduent, Nuix, FTI, and Relativity.

The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the Digital Evidence Management market.

Market-O-Nomics

The valuation for the eDiscovery market was USD 10.07 Billion in 2018, and it is expected to reach USD 25.75 Billion by 2026.

Telecommunication and IT sector are forecasted to hold a market share of 19.3% in the year 2026 with a CAGR of 13.0% during the forecast period.

Government and Public sectors in North America are forecasted to hold a market share of ~21% in the year 2026. Presence of well-established government sector and availability of advanced technologies are giving the government sector in the region a benefit over the rest of the world.

Government agencies held the largest market share throughout the forecast period owing to the rise in demand to handle congressional inquiries cost-efficiently, the seamless performance of criminal and civil investigation, and accurate maintenance of data records.

Litigation cost has increased 3 times from what it was in 2015. In 2017, it was estimated to be approximately, more than USD 20 Billion. There are more companies that are facing risk within the industry.

Large Enterprises are forecasted to hold a market share of 66.9% in the year 2026. The demand for the eDiscovery is anticipated to increase owing to the benefit associated with eDiscovery such as trained resources, huge cost savings, 24x7 availability of customer service, and support for legal research.

Asia Pacific is forecasted to grow with the highest CAGR of 16.0% during the forecast period. This is mainly due to the rising patent litigation, demand for greater transparency in Asian banking practices, increase in Chinese outbound investment, and rise in the number of data centres, digitalization, and privacy regulations.

Europe held a market share of 18.3% in the year 2018. The European Union has a stringent system for the protection of data privacy rights of the people and presents a huge challenge for the attorney who wishes to transfer data to the U.S. as evidence.

Segments Covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this report, Reports and Data have segmented into the global eDiscovery market on the basis of components, deployment type, organization size, end-users, and region:

Component Outlook (Revenue, USD Billion; 2016-2026)

Software

Services

Deployment Type Outlook (Revenue, USD Billion; 2016-2026)

Cloud

On-Premises

Organization Size Outlook (Revenue, USD Billion; 2016-2026)

Small and Medium-Sized Enterprises

Large Enterprises

End Users Outlook (Revenue, USD Billion; 2016-2026)

BFSI

Healthcare

Telecommunications and IT

Retail and Consumer Goods

Government and Public Sector

Legal

Energy and Utilities

Manufacturing

Others

Regional Outlook (Revenue, USD Billion; 2016-2026)

North America U.S.

Europe UK France

Asia Pacific China India Japan

MEA

Latin America Brazil

