Dublin, Feb. 18, 2021 (GLOBE NEWSWIRE) -- The "eDiscovery Market by Component (Software (Processing, Review and Analysis, Identification, Preservation and Collection, and Production and Presentation) and Services), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The eDiscovery market is estimated at USD 9,340 million in 2020 and is projected to reach USD 12,860 million by 2025, recording a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.
eDiscovery is an integral part of litigation, government investigations, and regulatory and compliance submissions, under which parties exchange Electronically Stored Information (ESI) with each other. ESI majorly includes emails, documents, presentations, databases, voicemail, audio and video files, social media, and web sites.
The eDiscovery legal process generally includes three steps: in the first step, data is identified as relevant by a legal practitioner and placed on legal hold. In the second stage, the legal practitioners from both sides determine the scope of discovery, identify the relevant ESI, and make eDiscovery requests.
Finally, the evidence is extracted and analyzed using digital forensic and converted into a required format to represent in a court.
Market Dynamics
Drivers
- Focus on Proactive Governance with Data Analytics and the Emergence of New Content Sources
- Growing Number of Litigations Across the Globe
- Growth of Esi and Social Media Penetration
- Varying Structure of Regulatory Policies
Restraints
- Increasing Chances of Cyberattacks and Data Theft Activities During the COVID-19 Pandemic
- Lack of Skilled Professional Workforce
Opportunities
- Emergence of Ai-Based Analytics and Predictive Coding for eDiscovery
- Collaboration with Social Media Platforms Simplifies Litigation Processes
Challenges
- High Initial Costs of Investment, Installation, and Maintenance
- Privacy and Security Aspects
- Lack of Awareness of eDiscovery Solutions
Industry Trends
- Case Study Analysis
- Use Case 1: Banking, Financial Services, and Insurance
- Use Case 2: Retail
- Use Case 3: Law
Electronic Discovery Reference Model
Patent Analysis
Porter's Five Forces Analysis: Market
Pricing Analysis
Technology Analysis
- Ai and eDiscovery
- Internet of Things and eDiscovery
- Big Data and eDiscovery
Regulatory Landscape
- Introduction
- Federal Rules of Civil Procedure
- General Data Protection Regulation
- Electronic Communications Privacy Act
- Health Insurance Portability and Accountability Act
- Dodd-Frank Wall Street Reform and Consumer Protection Act
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 eDiscovery Market, by Component
7 eDiscovery Market, by Deployment Type
8 eDiscovery Market, by Organization Size
9 eDiscovery Market, by Vertical
10 eDiscovery Market, by Region
11 Competitive Landscape
12 Company Profiles
- Allegory
- Casepoint
- Congruity360
- Deloitte
- Disco
- Everlaw
- Evichat
- Exterro
- IBM
- Kldiscovery
- Knovos
- Logikcull
- Micro Focus
- Microsoft
- Nextpoint
- Nuix
- One Discovery
- Onna
- Opentext
- Reductech
- Relativity
- Texifter
- Thomson Reuters
- Veritas
- Zylab
For more information about this report visit https://www.researchandmarkets.com/r/sbpgjt