NEW YORK, United States , July 26, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “eDiscovery Market 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 Deployment Type (On-premises, Cloud)), By Organization Size (Large Enterprises, SMEs), By Vertical (Government and Public Sector, Legal, BFSI, Energy and Utilities, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, IT and Telecommunications, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global eDiscovery Market size & share was approximately USD 9.50 Billion in 2021. The market is expected to grow above a CAGR of 6.40% and is anticipated to reach over USD 13.78 Billion by 2028.”
The report analyses the eDiscovery market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global eDiscovery market.
What is eDiscovery? How big is the eDiscovery Industry?
- Report Overview:
eDiscovery is the process of identifying, acquiring, and displaying electronically stored information (ESI) for legal investigations. Emails, documents, PowerPoint presentations, databases, voicemails, social media data, and audio and video files are all examined. This evidence is then extracted and evaluated using a variety of cyber-forensic techniques before being transferred to digital formats and presented in court. They contribute to trend detection and analytical research for legal, constitutional, political, and privacy issues.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- Provide detailed chapter-by-chapter guidance on Request, Includes Tables and figures have been updated
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Key Insights from Primary Research
- As per the analysis, the eDiscovery market is likely to grow above a CAGR of around 6.40% between 2022 and 2028.
- In terms of Revenue, The eDiscovery market size was worth around US$ 9.50 Billion in 2021 and is estimated to hit approximately US$ 13.78 Billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on components segment analysis, the the solutions segment will have a bigger market share during the forecasted period.
- Based on organization size segment analysis, the large enterprises will hold a large part of the market share during the forecast period.
- On the basis of region, the “North America” Will Likely Overtake the Global Market during the projection period.
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Market Growth Dynamics: Industry Drivers
The usage of e-discovery solutions is predicted to grow significantly over the forecast period, owing to rising digital forensics trends among businesses. Furthermore, because of the importance of digital evidence in forensics investigations, the electronic evidence process for litigation assistance has been streamlined and reduced. The growing deployment of IoT and cloud computing systems has considerably increased the generation of digital data, resulting in an increase in the need for e-discovery solutions for retrieving and restoring information traces. In addition, the rise in litigation around the world, the focus on proactive governance with data analytics, and the publication of new content sources are all contributing to the global e-discovery market's overall expansion.
Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Component, Deployment Type, Organization Size, Vertical, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 9.50 Billion |
| Projected Market Size in 2028 | USD 13.78 Billion |
| CAGR Growth Rate | 6.40% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Microsoft, IBM, OpenText, Deloitte, Micro Focus, ZyLAB, Relativity, Nuix, Logikcull, KLDiscovery, Exterro, Thomson Reuters, Knovos, Casepoint, Nextpoint, DISCO, Veritas, One Discovery, Congruity360, Onna, Everlaw, Texifter, Allegory, Evichat, Reductech, and Others |
| Key Segment | By Component, Deployment Type, Organization Size, Vertical, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Key questions answered in this report:
- What is the market size and growth rate forecast for eDiscovery industry?
- What are the main driving factors propelling the eDiscovery Market forward?
- What are the leading companies in the eDiscovery Industry?
- What segments does the eDiscovery Market cover?
- How can I receive a free copy of the eDiscovery Market sample report and company profiles?
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eDiscovery Market: COVID-19 Impact Analysis
The COVID-19 outbreak has changed the business and economic situations. Since then, eDiscovery specialists have been debating and making judgments to enable the collection, processing, and review of ESI. The most talked about topic among business, legal and IT specialists in the eDiscovery ecosystem is how to plan and execute the basic eDiscovery work of collection during the pandemic. The key hurdles for remote collection are IT infrastructure and qualified labor. COVID-19 is thought to have a short-term influence. As a result of new activities such as work from home and social distancing, virtual private network connectivity has fueled demand for and acceptance of cloud-based eDiscovery solutions.
eDiscovery Market: Segmentation Analysis
The global eDiscovery market is segregated based on component, deployment type, organization size, and verticals.
In terms of deployment type, the on-premises segment will have a bigger market share during the forecasted period. Although companies have been focusing more on the cloud deployment type in recent times because it provides them with several benefits, such as flexibility, scalability, speed, interoperability, and lower infrastructure costs, the on-premises segment is expected to hold a larger share of the eDiscovery market. The cost of implementing on-premises solutions is factored into a company's CAPEX. This strategy is mostly used in applications that process sensitive or confidential data. Because of the usage of machine learning, IT devices, sensors, clickstreams, and a variety of other devices, every business now creates massive volumes of data.
In terms of vertical, BFSI will hold a large part of the market share during the forecast period. The introduction of modern technology will be critical to the BFSI vertical's success. Banking consumers can now access real-time banking and financial information services on any device thanks to digital technologies. Capital markets, insurance, asset management, Automated Teller Machines (ATMs), and online transactions are just a few of the data sources in the BFSI vertical. Litigation in banks is a difficult practice since a large amount of data must be analyzed, as well as the complications of analyzing manual or documented entries. The use of eDiscovery has resulted in improved transparency and clarity in court records.
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Regional Dominance:
North America, Asia Pacific (APAC), Europe, Middle East & Africa (MEA), and Latin America are the five key geographic regions that make up the global eDiscovery market. During the projection period, North America is expected to account for the greatest market share. North America is divided into two parts: the United States and Canada. The United States is predicted to be a prominent revenue contributor to the eDiscovery market's growth in North America. The United States is one of the most developed countries in the world, with a proclivity for innovation. The country possesses the infrastructure, innovation, and initiatives required to propel the eDiscovery industry forward. Also, with the rapid growth in technological advancements and the increased use of the internet, the US eDiscovery market has been anticipated to hold the influx portion of the market in the overall North American region.
Competitive Players
The report contains qualitative and quantitative research on the global eDiscovery market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global eDiscovery market include;
- Microsoft
- IBM
- OpenText
- Deloitte
- Micro Focus
- ZyLAB
- Relativity
- Nuix
- Logikcull
- KLDiscovery
- Exterro
- Thomson Reuters
- Knovos
- Casepoint
- Nextpoint
- DISCO
- Veritas
- One Discovery
- Congruity360
- Onna
- Everlaw
- Texifter
- Allegory
- Evichat
- Reductech
Browse the full “eDiscovery Market 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 Deployment Type (On-premises, Cloud)), By Organization Size (Large Enterprises, SMEs), By Vertical (Government and Public Sector, Legal, BFSI, Energy and Utilities, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, IT and Telecommunications, Others), and By Region - Global Industry Insights, Growth, Size, Share, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/ediscovery-market
The global eDiscovery market is segmented as follows:
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 Deployment Type
- On-premises
- Cloud
By Organization Size
- Large Enterprises
- SMEs
By Vertical
- Government and Public Sector
- Legal
- BFSI
- Energy and Utilities
- Healthcare and Life Sciences
- Retail and Consumer Goods
- Manufacturing
- IT and Telecommunications
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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