About E-discovery -
E discovery is also known as the electronic discovery in which that identifying, collecting and producing electronically stored information in response to a request for investigation. The data collected in e discovery include any information in electronic formats such as, emails, texts, social media post etc. it is used for the civil procedures and legal processes. There are the wide ranges of advantages of e discovery including Improved efficiency, early identification of key documents and issues and increased accuracy and quality of the review. Technological advancements, including artificial intelligence (AI) and machine learning (ML), have enhanced the capabilities of e-discovery tools. Predictive coding, data analytics, and other advanced technologies help in automating and improving the efficiency of the e-discovery process.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The e-discovery market was experiencing growth due to the increasing volume of digital data and the need for organizations to manage and analyse this data for legal and compliance purposes. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Relativity (United States), Lineal (United States), Open Text Corporation (Canada), Logikcull.com. (United States), DLA Piper (United Kingdom), CS DISCO, Inc. (United States), EY (United Kingdom), KPMG (Netherland), TransPerfect (United States), PwC (United Kingdom), Baker McKenzie (United States), Repario Data (India), Deloitte Touche Tohmatsu Limited (United Kingdom), Zapproved LLC. (United States), Cenza (India), GeorgeJon Inc (United States), AOS DATA, Inc. (Japan) and KLDiscovery. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global E-discovery - market by and Region.
On the basis of geography, the market of E-discovery - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment mode , the sub-segment i.e. Cloud will boost the E-discovery - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. SMEs will boost the E-discovery - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Subscription, the sub-segment i.e. Hourly will boost the E-discovery - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Corporate will boost the E-discovery - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased the advancement of SaaS and cloud-based technology
Market Growth Drivers:
The rise in eDiscovery technologies and outsourcing and The increasing adoption of cloud computing services has influenced the e-discovery market
Challenges:
Multitude of diverse data sources and Issues like sexual harassment, internal fraud, are placing an unprecedented burden on corporations to investigate a larger number of cases and manage litigations internally.
Restraints:
Concern about cyber security and Stringent regulatory requirements and data protection laws
Opportunities:
Focus on innovation of technology in e discovery such as artificial intelligence and machine learning
Market Leaders and their expansionary development strategies
In March 2023, TransPerfect Legal Solutions, a global provider of e-discovery and litigation support solutions for law firms and corporate legal departments, acquired of JetSuite is the Industry Leader in High-Speed and Large-Volume Document Import/Export. The acquisition allows users to customize their exports and save those settings, decreasing operator burden and error rates. and In January 2023, Exterro, a leading provider of Legal Governance, Risk, and Compliance (GRC) software, has acquired Zapproved, a provider of e-discovery software known for its strong customer outcomes. This acquisition is the latest step in furthering Exterro's vision to empower customers to proactively and defensibly manage their legal governance, risk and compliance obligations.
In December 2021, KLDiscovery Inc., a leading provider of global electronic discovery, information governance and data recovery technology solutions, launched the eDiscovery.com domain with a website dedicated to its flagship information governance and eDiscovery solution Nebula. Nebula is a powerful, end-to-end eDiscovery platform boasting the latest in artificial intelligence and machine learning designed for unparalleled ease of use. and In March 2021, Smarsh, the industry leader in enabling organizations to easily manage risk and uncover the value within their communications data, launched of a new partner ecosystem program focused on e-discovery. New Program and Expanded API Set Empower Development of Integrated Solutions that Improve Data Security, Accelerate Legal Decision Making, and Reduce Cost.
Key Target Audience
End users’ industry, Research Organization, Government Regulatory, Analysts and Strategic Business Planners and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.