About Search and Discovery Software
Search and discovery software collects information from various sources to generate trends and patterns as per customize requirement. It consist of data preparation, advanced analytics, visual analysis. This software allows legal professional to produce electronic documents as part of lawsuit and investigation. The adoptions of this software help to reduce overall reducing costs by speeding up resolutions, and mitigating risks. Increasing technological infrastructure and growing digitization across end use industries is expected to drive the market growth. Geographically, North America is anticipated to gain highest market share followed by Europe and Asia Pacific.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market of Search and Discovery software is expected to grow with rising demand for industrial activities management. Several companies are operating in the market to provide software with excellent feature. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. Rising industrial profitability has attracting new entries which in turn impacting on competitive rivalry. 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.
Microsoft(United States), IBM(United States), Micro Focus(United Kingdom), OpenText(Canada), Nuix(Australia), ZyLAB(The Netherlands), Logikcull(United States), KLDiscovery(United States), Thomson Reuters(Canada), Veritas(United States), Knovos(United States), One Discovery(United States), Onna(United States) and Congruity360(United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Search and Discovery Software market by , Application (Compliance Management, Document Classification, Metadata Extraction and Topic Clustering) and Region.
On the basis of geography, the market of Search and Discovery Software 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 Search and Discovery Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Search and Discovery Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. SMEs will boost the Search and Discovery Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solution will boost the Search and Discovery Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Organisations and Industry Vertical towards End To End Search and Discovery Software Solutions Which Further To Reduce Overall Maintenance Cost and Huge demand for On-Premise based Search and Discovery Software
Market Growth Drivers:
Preference for the Use of Sophisticated Set of Computations Software for Search and Discovery on Single Integrated Platform Is Driving the Demand for Search and Discovery Software, Rising Necessity for Streamlining Business Process Flows and Increasing Adoptions for Digital Technologies across Industry Verticals
Challenges:
Data Security Concerns
Restraints:
High Cost Associated with Installation & Technical Issue associated with Software Handling
Opportunities:
Technological Advancements with AI & Automation Has Created Ample Opportunities and Inclination of Mid & Small Size Enterprises towards Implementation of Search and Discovery Software for Their Portfolio Management Has Created Growth Opportunities for Market Players
Market Leaders and their expansionary development strategies
In April 2022, CyberRes, a Micro Focus business line, acquired Debricked, a developer-focused open-source intelligence company that aims to transform how organizations secure their software supply chains for today and tomorrow. The addition of a cloud-native software composition analysis platform and AI/ML capabilities further strengthens CyberRes' strategy in the future of software resiliency and DevSecOps. These tailored features, coupled with a vision for how developers can evaluate, use, and secure open-source components tailored to the needs of their organizations, make Debricked an invaluable addition to CyberRes' application security portfolio.
In August 2019, Nuix, a risk, compliance, and security software company, launched Nuix Ringtail, a comprehensive end-to-end eDiscovery application, now called Nuix Discover. Nuix Discover provides law firms, corporations, government agencies, and legal service providers with a single integrated software application that includes the world's fastest processing engine, visual analytics, machine learning, smart review, and subtle production capabilities. Nuix Discover is backed by an innovative, integrated customer success program and an extensive network of service providers, and can be deployed on-premises, in the cloud, or anywhere in between.
Key Target Audience
Search and Discovery Software Providers, Research Organizations, New Entrants/Investors, Strategic Business Planners, Government Regulatory and End Use Industry
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.