About eDiscovery
E-discovery or electronic discovery is the electronic aspect in which electronic data is discovered (located, secured and searched) with the purpose of exploiting these data in civil or criminal cases. It includes emails, video & audio files, social media, chats, docs or other data in electronic form that could be significant evidence in connection to a lawsuit. Moreover, the surging use of digitalization and advanced technologies have increased the amount of data stored per day in various type businesses and organizations.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 13.8% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global eDiscovery market throughout the forecasted period. 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.
Symantec Corporation (United States), IBM (United States), Xerox Legal Business Services (United States), Exterro (United States), EMC (United States), Epiq Systems (United States), HPE (United States), Kcura Corporation (United States), Accessdata (United States), Deloitte (United Kingdom), DTI Data (United States), Consilio (United States), Kroll Inc. (United States), Zylab (United States), Guidance Software (United States), Integreon (United States), KPMG (Netherlands), FRONTEO (United States), Recommind (United States) and Veritas (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Navigant (United States), Ricoh (Japan), UnitedLex (United States), LDiscovery (United States), Lighthouse eDiscovery (United States) and Thomson Reuters (Canada).
Segmentation Overview
AMA Research has segmented the market of Global eDiscovery market by Type (ECA, Processing, Review, Forensic Data Collection, Legal Hold Management and Other), Application (Attorneys and Legal Supervisors, Government and Regulatory Agencies, IT and Telecommunications, Banking, Financial Services and Insurance (BFSI) and Others) and Region.
On the basis of geography, the market of eDiscovery 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). North America region held largest market share in the year 2021. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Component Type, the sub-segment i.e. Software will boost the eDiscovery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Cloud will boost the eDiscovery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing pressure by government authorities with electronic media governance policies
Market Growth Drivers:
Focus on proactive governance with data analytics and emergence of new content sources, Increase in number of litigations across the globe, Growth in compliance requirements and data protection regulations, Proliferation of IoT devices across various verticals and overabundance of stored data and Increasing Demand for IT Infrastructure in Emerging Economies
Challenges:
Lack of Awareness of eDiscovery, Limited Technical Expertise for Managing the Advanced eDiscovery Mechanism and Integration of Saas Based eDiscovery With Traditional Platforms
Restraints:
Higher cost of eDiscovery platforms and services and Contradiction between data protection and eDiscovery
Opportunities:
Higher Demand for Cloud-Based E-Discovery Among SMEs, Collaboration With Social Media Platforms Simplifies Litigation Processes and Increasing adoption for Predictive Coding to Simplify and Shorten Document Review Process
Market Leaders and their expansionary development strategies
On December 15, 2023, Everlaw acquired RelativityOne, combining two major players in the eDiscovery market. This move is expected to create a more comprehensive platform for legal teams.
On December 7, 2023, Ediscovery platform DISCO announced a partnership with cybersecurity firm Palo Alto Networks to integrate data breach response and eDiscovery workflows.
California Consumer Privacy Act (CCPA) is passing a law for protection of data in United States which will be effective by January, 2020. It is expected to be country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance. European Union laws (GDPR) is taking important measures to protect data privacy and is expected to impact ~4% of global annual sales.
Key Target Audience
New Entrance, Potential Investors, Government Bodies 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.