E-Discovery Market to Be Worth US$ 18,067.3 Million By The Year 2030 - Comprehensive Research Report By FMI

Averting Delays in Judicial Systems to Spike Rate of Adoption in e-Discovery Market

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DUBAI, United Arab Emirates, March 30, 2022 (GLOBE NEWSWIRE) -- Future Market Insights release the 2020 version of global e-Discovery Market report, according to which the market is projected to surge at a CAGR of 8.3% during the forecast period of 2022 to 2030, reaching a valuation of about US$ 18.06 Bn by the end of the forecast period.

2022 Market ValueUS$ 9,528.6 Mn
2030 Market ValueUS$ 18,067.3 Mn
CAGR% (2022-2030)8.3%
Share of Top 5 Market Players~47%

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The solutions offered by the e-Discovery vendors are expected to revolutionize the judicial system by changing the way law firms operate. With the rising electronically stored information (ESI) of a score of documents that are required for identification and proof submission in a legal enquiry, the market is projected to thrive. The clean method of storing stacks and stack of evidence with a promise of keeping them tamper-safe is expected to up the adoption of e-Discovery solutions and software between the forecast years of 2022-2030, says the report.

Introduction of e-Discovery processes has allowed end users to process metadata such as stamps, author, recipient information, file properties, and time-data, which was previously a cumbersome and erroneous task. This has reduced the spoilage of documents that are required for litigation in a legal case that may take years.

Today, e-discovery services and software are used for advisory, forensics, contract review, warehousing of corporate data, and federal needs. Its ability to make the documents indestructible has become its biggest asset, winning it a massive clientele over the years. Needless to say that the market is also being fueled by digitization in emerging economies but its ability to bring about operational efficiency on long-term basis has truly made documentation a manageable feat for judicial systems.

Key Takeaways of e-Discovery Market Study

  • The enterprises segment is expected to exhibit a CAGR of 14% during the forecast period inching closer to the government & regulatory agencies segment’s lion’s share of around 60% in 2019
  • The software segment is held a leading position with 55% market share in 2019. However, the services segment will increase 2.4x of the current market value over the forecast period
  • Asia Pacific poised to surge at a CAGR of 12% to create an incremental opportunity of around US$ 7.2 Bn during the forecast period

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Scope of the Report

Market value in 2021US$ 9,345.8 Mn
Market CAGR 2022 to 20308.3%
Share of top 5 playersAround 47%
Forecast Period2022-2030
Historical Data Available for2015-2021
Market AnalysisUSD Million for Value
Key regions coveredNorth America, Latin America, Europe, Asia Pacific, and Middle East and Africa
Key countries coveredUS, Canada, Brazil, Mexico, Germany, Italy, U.K., France, Spain, BENELUX, Russia, China, India, Japan, ASEAN, Oceania, GCC Countries, Turkey, Northern Africa, and South Africa
Key market segments covered
  • Solution
  • Enterprise Size
  • End Users
  • Region
Key companies profiled
  • IBM Corporation
  • Opentext
  • Microsoft Corporation
  • Micro Focus
  • Deloitte
  • Nuix
  • Exterro
  • KLDiscovery
  • Thomson Reuters
  • Knovos
  • Guidance Software Inc.
  • Symantec Corporation
  • FTI Consulting
  • Veritas
  • One Discovery
Report coverageMarket forecast, company share analysis, competition intelligence, DROT analysis, market dynamics and challenges, and strategic growth initiatives
Customization & pricingAvailable upon request

COVID-19 Impact Analysis on e-Discovery Market
The outbreak of COVID-19 highlighted the need for businesses to adapt to the changing technological landscape and ensuring business continuity to remain relevant throughout the pandemic. This sentiment is expected to bring greater investments to in technology-based infrastructure across law firms, who are key end users of e-Discovery solutions. The influx of raw ESI during the time of social distancing will enable seamless collection, review, identification, and sharing. Uptake of cloud computing will enable continuity in operations and avert chances of delay, which are often seen in judicial systems.

Analysts predict that e-Discovery market will rise at a rate of 9% throughout the forecast period as end users realise its undiscovered benefits. Between the years of 2020 and 2033, the market is the cloud-based segment is projected to witness a growth rate of 15% and an increase of 1.4x its current market value.

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Driving Growth through Innovation
Collaborations and partnerships will remain essential to the growth of the global e-Discovery market. Players are expected to focus on building their prowess to expand geographically. For instance, in May 2020, Microsoft Corporation entered into a partnership with Epiq, a provider of legal services headquartered in the U.S. With this, Epiq launched its ‘Epiq Compliance Connector for Microsoft Teams’, an information governance capability. This is the first ever application to identify, thread, collect, and connect the number of messages in Teams to speed up the process for eDiscovery.

Companies operating in the global e-Discovery market are expected to focus on developing tools that will genuinely work towards reducing costs and the risk of regulatory non-compliance. Ensuring absolute secrecy and keep the documents intact and safe from tampering will go a long way in making a remarkable difference in handling legal cases in the near future for these vendors.

Explore FMI’s Extensive ongoing Coverage on Technology Domain 

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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.


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