What is the global market size of eDiscovery Market?

Global eDiscovery Market size was valued at USD 11.4 billion in 2021 and it is expected to reach USD 13.78 billion by 2028, at a CAGR of 6.40% over the forecast period (2022-2028). Read More

Who are the key vendors in the Global eDiscovery Market?

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.'Open Text Corporation',' Nuix, ','Microsoft','IBM',' Micro Focus, Catalyst Repository Systems',' FTI Consulting, Inc.',' AccessConduent Inc.',' Relativity, Logikcull',' Consilio LLC, CloudNine',' Commvault, Driven Inc. ','Wipro Tech',' LLC',' KLDiscovery',' VRicoh India Ltd',' and Lighthouse' Read More

What is the key driver of Global eDiscovery Market?

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. Read More

What is the key market trend for Global eDiscovery Market?

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. Read More

Which region accounted for the largest share in Global eDiscovery Market?

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. Read More

eDiscovery Market Size

SkyQuest Technology's Ediscovery market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global eDiscovery Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.

eDiscovery Market Insights

eDiscovery Market size was valued at USD 12 Billion in 2023 and is poised to grow from USD 13.03 Billion in 2024 to USD 25.3 Billion by 2032, growing at a CAGR of 8.6% during the forecast period (2025-2032).

Organizations are prioritizing cybersecurity measures that include effective eDiscovery practices due to the rise in data breaches and cyberattacks. As businesses recognize the importance of safeguarding sensitive information while complying with legal obligations, this trend is expected to continue to fuel demand for advanced eDiscovery solutions.

Additionally, litigation is increasing globally due to the increased legal scrutiny in areas such as healthcare, finance and technology, there is an increasing need for organizations to introduce electronic evidence during litigation. The need to address security incidents often requires a comprehensive data management strategy that incorporates e-discovery capabilities, which drives the growth of the market. The AI and machine learning components are increasingly integrated into eDiscovery offerings to optimize data processing and analysis. Cloud solutions are gaining traction due to their affordability and flexibility, as well as their ability to support the critical data sets and shared business processes.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.

eDiscovery Market Report Snapshots

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FAQs

The eDiscovery industry is competitive, with a mix of global leaders and emerging players offering a variety of solutions to meet needs of the different industries. Leading agencies such as OpenText Corporation, Relativity, Nuix, Exterro, and Microsoft Corporation dominate the market with advanced technology and complete product services. 'Microsoft ', 'IBM ', 'DISCO ', 'KLDiscovery ', 'Nuix ', 'Relativity ', 'Logikcull ', 'ZyLAB ', 'Deloitte ', 'Casepoint ', 'Exterro ', 'Knovos ', 'Nextpoint ', 'OpenText ', 'Everlaw ', 'Epiq ', 'Consilio ', 'IPRO ', 'Servient ', 'Zapproved ', 'Reveal ', 'CloudNine ', 'Lighthouse ', 'One Discovery ', 'Onna ', 'Texifter ', 'Evichat'

Integration of AI and Automation in eDiscovery to Aid Market Proliferation: The integration of new-age technologies in eDiscovery provides enhancements in efficiency, improvement in accuracy, and, more importantly, enables cost-effectiveness. Comprehensive solutions help to visualize and classify data, further simplifying the governance process. Furthermore, this solution also helps reduce the risk of human error and enables a simpler governance process. This integration changes the traditional Electronic Discovery Reference Model (EDRM) lifecycle stage.

As per the eDiscovery market outlook, the North America region is dominating and holds the largest share. The demand for electronic discovery solutions in the region is accelerated by an increase in data threats and governmental and regulatory spending among businesses for security reasons. The rising adoption of electronic discovery solutions and services is increasing in government and public sector as government database has important strategic information. Moreover, a strong shift towards cloud-based solutions for scalability, integration of AI for predictive coding and automated review, heightened data privacy concerns and the impact of remote work increasing the need for decentralized data handling capabilities. For instance, Russian hackers breached U.S. defense outsourcers and stole crucial information from 2020 to 2022. Asia Pacific is expected to grow at the largest CAGR during the forecast period. Many organizations are migrating to cloud platforms from on-premises to focus on data governance, which increases the adoption of electronic discovery solutions in the region, thereby having a positive impact on market growth. In addition, the region’s government & public industry continues to make increasing use of electronic discovery solutions and services as data security threats continue to rise. Additionally, in addition to the growing need for robust e-discovery tools due to the rise of forensic and corporate investigations, the use of AI and automation to improve efficiency is on the rise. These trends are expected to fuel market growth in the upcoming years.

eDiscovery Market Size

eDiscovery Market Insights

eDiscovery Market Report Snapshots

FAQs

What is the global market size of eDiscovery Market?

Who are the key vendors in the eDiscovery Market?

What is the key driver of eDiscovery Market?

What is the key market trend for eDiscovery Market?

Which region accounted for the largest share in eDiscovery Market?

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