USD 10.9 billion
Global eDiscovery Market Size, Share, Growth Analysis, By Component(Solutions, Services), By Deployment(On-premises, Cloud), By End use(Government & Public Sector, Legal) - Industry Forecast 2023-2030
Report ID: SQSG45C2020 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 100 | Figures: 76
Global eDiscovery Market Insights
Global eDiscovery Market size was valued at USD 10.9 billion in 2021 and is poised to grow from USD 11.87 billion in 2022 to USD 21.53 billion by 2030, growing at a CAGR of 8.9% in the forecast period (2023-2030).
EDiscovery helps to limit the complex legal cases, decrease the review documents time. The eDiscovery process depends on IT-centric, which require large amounts of structured and unstructured information to be identified, preserved, and collected in order to be transferred it in a compliant manner to the other party for processing, review, and analysis. Usage of when advanced data review and analytics technologies to automate the extraction of legal insights from the ESI corpus, eDiscovery necessitates significant compute resources. According to a survey by IBM, pandemic period has accelerated digital transformation in 59% of organization and 66% organizations are able to overcome previous challenges with digital transformation. AI and Machine Learning (ML), are beginning to drive innovation strategies of the business to successfully operate the pandemic technologies. According the PricewaterhouseCoopers, AI could contribute almost USD 15.7 trillion to the global economy in future.
Artificial intelligence will continuously evolve and improve eDiscovery solutions, as well as the services and processes used. Many industries in the market believe that social media is the most popular communication platform. Furthermore, the rise of online communities where people with similar ideas can communicate with one another has created a new paradigm for eDiscovery solutions. These factors will eventually drive the eDiscovery market.
The costs and management of eDiscovery can be decreased and managed through the use of an Electronic Records Management (ERM) system and the adoption of a records management program. One of the biggest benefits of using eDiscovery software is that it can aid a company in streamlining and encompassing its processes. When an organization lacks natural organization or is overloaded with discoveries, it can significantly improve work. Businesses can save a ton of time and effort by switching to electronic discovery tools. When using expert eDiscovery solutions, redacting documents and scaling large document reviews are both incredibly simple. To protect the discovery files of their clients, businesses must use cloud-based eDiscovery software. Users must make sure they are taking all logical security and preservation precautions. One of the best benefits of using electronic discovery software is that it will enable a business to better protect important files. The most recent high-profile data breaches demonstrate how less and less secure data storage within law firms.
Market snapshot
Global Market Size
Largest Segment
Service
Fastest Growth
Solution
Growth Rate
8.9% CAGR
Global eDiscovery Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global eDiscovery Market Size By component type , 2021-2028 ($ Bn)
Global eDiscovery Market Size By component type, 2021-2028 (%)
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Global eDiscovery Market Segmental Analysis
Global eDiscovery market is segmented based on component, deployment, end use, and region. Based on component, global market is segmented into solutions and services. On the basis of deployment, market is segmented into on-premises and cloud. According to end use, market is segmented into Government & public sector, legal, banking, financial services and insurance, energy & utilities, healthcare & life sciences, retail & consumer goods, manufacturing, it & telecommunications, and other verticals (education, travel and hospitality, transportation & logistics, and media & entertainment). Based on region, it is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
eDiscovery Market Analysis by Component
The services segment dominated the global eDiscovery market during the forecast period. Consulting services delivered by various vendors enable organizations to analyze their current GRC program and develop the roadmap to execute an effective GRC software solution. Training and consulting services focus on user pain points, goals, and timelines while considering the technology and Human Resource (HR) bandwidths.
Consulting services help in defining deployable use cases for achieving better business performance. Hence, consulting services is predicted to be an important contributor to the overall revenue of the services segment. The integration of these solutions with the existing infrastructure becomes critical for the smooth functioning of the applications. Therefore, by integrating eDiscovery solution with various hardware offerings and testing, the system’s functioning is paramount. For successfully implementing GRC solutions the solution provides a team of consultants with domain knowledge and technical expertise to assist organizations.
eDiscovery Market Analysis by Deployment
Based on deployment cloud segment is dominating in the global eDiscovery market during the forecast period. According to smartphone usage statistics, around 3.2 billion people uses smartphone around the world, more than 5 billion people own mobile devices, kids get mobile devices at the age of 12, 194 billion people download mobile apps, and two-thirds of the world is now connected via smartphone. Due to this, the number of internet users has increased. It leads to high demand for smart device users and cloud-based services. Due to the cloud-based services, implementation time is reduced, secure data is easy to transfer, a large volume of data is shared within a short span of time, rapid scalability demand increases, lower the infrastructure, energy, and facility costs, which increases the opportunities for eDiscovery market.
Sales of on-premises e-discovery software in the e-discovery market can be attributed to the platform's ease of use and improved safety features. The on-premises segment has grown in popularity and contributed significantly to revenue. Furthermore, increased emphasis in several countries on ensuring data security and integrity will drive demand for on-premise solutions in the coming years.
eDiscovery Market Analysis by End Use
Based on end use, banking, financial services and insurance segment dominated the eDiscovery market. In the healthcare sector, many clinical documents need to be shared securely, for which eDiscovery is required. Hence, the banking, financial services, and insurance sector mostly work with data used for various purposes, such as tracking customer behaviour and regulatory compliance. Banking, financial services, and insurance are also a litigation sector; it works with many secure documents and paperless data.
IT And Telecommunication is expected to have the highest market share. Due to advances in technologies, such as 3G and 4G, the IT and vertical communications have expanded data generation. A great amount of data is anticipated to come from the introduction of 5G technology in the near future. Due to its extensive customer base, this is a vertical task to keep IP copyrights and data collection. It deals with regulator and anti-trust investigations’ cross-border privacy and security challenges.
Global eDiscovery Market By component type, 2021 (%)
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Global eDiscovery Market Regional Insights
North America is anticipated to dominate the global eDiscovery market. Service providers in this region are using eDiscovery solutions for cyber-security and data violations, handling differences of jurisdiction and privacy issues across borders, managing investigation and litigation matters, and maintaining standards to fulfil all discovery commitments. In North America, the US is analysed to play the leading role in eDiscovery. The rise in adoption of digital forensics solutions and growing cloud computing landscape in the U.S. are some of the key factors propelling the growth of e-discovery market in the country.
The Asia-Pacific region is analysed to witness a significant growth rate during the forecast period. In the presence of the developing economic countries like India and China, there is a heavy and considerable impact of advanced technologies on improving productivity and to optimize the cost of discovery in Asia-Pacific which will fuel in growth of the market.
The Middle East and Africa eDiscovery market size is projected to expand during the forecast period. Awareness retrieve the adoption of eDiscovery software in the Middle East and Africa. The respective governments in the region advanced solutions for regulating effective rules and regulations based on the analysis of ethical data statistics
Global eDiscovery Market By Geography, 2021-2028
- Largest
- Fastest
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Global eDiscovery Market Dynamics
eDiscovery Market Drivers
- Emergence of data growth in the market, as the use of digital technologies in all verticals has increased. Companies throughout every domain in the past decade have suffered from a sudden excess of incremental data growth. Data grows more quickly than ever before. In recent years almost 85% of the existing global data were generated and by the end of 2020, it is approximated that the figure will increase to approximately 44 zettabytes. Smartphones account for almost two-fifths of global ecommerce transactions and therefore generate large-scale content.
- Development in AI-based analytics as, Artificial Intelligence (AI) is changing the law profession slowly and advances in analytics-based AI are anticipated to speed up and enhance eDiscovery quality performance. Analytics are used to detect significant data patterns and to analyse them. In managing explosive volumes of data, analytics helps to manage and adhere to new types of data, such as Multimedia, Social and BYOD, eDiscovery costs, and new rules. Predictable coding is mainly an ML process using software and computer algorithms to evaluate the documents which are self-learning related to litigation.
eDiscovery Market Restraints
- Cyber-attacks are more often visible as cyber security is one of the most significant aspects in order to operate smoothly. The number of data breaches and cyber-attacks has risen significantly in recent times. Many companies do not know of this problem and have poor cyber security practices and unsecured data in place, which leave them susceptible to loss of data. Accordingly, every 39 seconds, three-fifth of enterprises suffered phishing and social engineering attacks, according to data obtained by Cabinet Solutions. According to the Norton report, by 2023, 50% of the data violations will be taken into account.
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Global eDiscovery Market Competitive Landscape
The eDiscovery market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Major players like IBM Corporation, Microsoft, Deloitte, Logikcull, Xerox Corporation with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability. IBM revealed that it planned on updating the discovery service of its artificial intelligence-powered platform, Watson, with an expansion of its eDiscovery and business research technology. Watson Discovery Service enabled developers to implement a machine learning model in their search tools, which allowed the tools to understand how certain language terms are related on a deeper level. The service enabled developers to create search and e-discovery tools using Watson's technology, which comprehended language and data on an almost human level.
Top Players in the Global eDiscovery Market
- Open Text Corporation
- FTI Consulting, Inc.
- Relativity
- Nuix
- kCura
- IBM Corporation
- AccessData Group
- ZyLAB
- Logikcull
- Exterro
- Veritas Technologies LLC
- Commvault Systems, Inc.
- Recommind, Inc.
- iPro Tech, LLC
- Epiq Systems, Inc.
- Catalyst Repository Systems
- Micro Focus International plc
- Proofpoint, Inc.
- Symantec Corporation
- Hewlett Packard Enterprise (HPE)
eDiscovery Market Recent Developments
- In March 2022, KLDiscovery launched Nebula Enterprise. Nebula Enterprise extended the power, flexibility, and enhanced feature set of Nebula to customers’ data centers in the form of a plug-and-play expandable appliance designed to address a wide range of security and compliance concerns.
- On May 10, 2021, Relativity and Proofpoint announced a partnership to combine Proofpoint's business preserving and compliance solutions with Relativity's AI-enabled communication monitoring product, Relativity Trace.
- In November 2020, Nuix partnered with KordaMentha, which is a leading advisory and investment firm. Through this partnership, KordaMentha was providing clients with secure eDiscovery software in KordaMentha’s services and forensic expertise.
- On September 23, 2020, ZyLAB Insight will be available on its E-discovery platform. ZyLAB Insights is an AI-powered capability that can mechanically extract entity data from formless data sources. ZyLAB Insights will be accessible to all ZyLAB ONE SaaS users in North America and Europe.
Global eDiscovery Key Market Trends
- Rise of AI-based analytics and predictive coding for e-discovery as the analytics of data supports the management of growing data quantities, new forms of data such as social, multi-media, and BYOD data, the monitoring of e-discovery expenditure, and compliance with new legislation. Predictive coding is necessarily a machine learning (ML) approach that employs computer algorithms and software to self-learn which documents are important to lawsuits. The Lexbe eDiscovery Platform includes robust case analysis and timeline functionality, as well as online document processing capabilities that can help to speed up the telecommunications capacity process and expedite the review of millions of documents. The large enterprises segment to grow at the highest growth rate during the forecast period. There are various vendors in the market that offer integrated GRC solutions. These solutions help key decision-makers and leaders by offering the critical information required to form the balance between risk management, cost optimization, and capacity for innovation. Large enterprises have a large corporate network and many revenue streams. Hence, there is a huge amount of data generated by them. Small & medium-sized enterprises (SMEs) are adopting eDiscovery solutions at a high pace to enhance their governance, risk, and compliance programs. To help SMEs meet various regulatory requirements, vendors in the market have been rolling eDiscovery solutions with the intent to cater to SMEs. SMEs are also facing pressure related to transparency, visibility, and accountability in their business operations, thus increasing the effectiveness of corporate governance.
Global eDiscovery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our eDiscovery market analysis, along with that, the rise in litigation around the world, a focus on proactive governance with data analytics, and the publication of new content sources are some of the major factors driving the global e-discovery market growth.
E-discovery solutions assist in the development of laws for the effective use and maintenance of resources available to employees, thereby lowering hardware and maintenance costs and improving overall organizational operational efficiency.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 10.9 billion |
| Market size value in 2030 | USD 11.87 billion |
| Growth Rate | 8.9% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global eDiscovery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global eDiscovery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global eDiscovery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global eDiscovery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global eDiscovery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global eDiscovery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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