Electronic Discovery Market Scope
Electronic discovery (sometimes known as e-discovery) is the electronic aspect of identifying, collecting, and producing electronically stored information (ESI) in response to a request for production in a lawsuit or investigation. ESI includes but is not limited to, emails, documents, presentations, databases, voicemail, audio and video files, social media, and websites. eDiscovery has become increasingly important in recent years as the amount of ESI has grown exponentially. It is estimated that 90% of all data collected during litigation is now ESI. This has led to major changes in the way that legal cases are conducted, and eDiscovery has become a critical skill for lawyers, paralegals, and other legal professionals.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | AccessData (United States), Advanced Discovery (United States), Catalyst (United States), CloudNine (United States), Commvault (United States), Conduent (United States), Deloitte (United States), Driven (United States), Epiq (United States), FRONTEO (Japan) and DISCO (United States) |
CAGR | % |
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. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Electronic Discovery market throughout the predicted period.
AccessData (United States), Advanced Discovery (United States), Catalyst (United States), CloudNine (United States), Commvault (United States), Conduent (United States), Deloitte (United States), Driven (United States), Epiq (United States), FRONTEO (Japan) and DISCO (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are FTI (United States), IBM (United States), Ipro (United States), KLDiscovery (United States), Lighthouse (United States), Logikcull (United States) and Micro Focus (UK),.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Electronic Discovery market by Type , by Application (Defense Forces, Legal Companies, Government, Energy and Utilities, IT Sector, Transportation and Logistics, Media and Entertainment, BFSI and Others) and Region with country level break-up.
On the basis of geography, the market of Electronic 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In November 2023, Everest Legal, a legal process outsourcing (LPO) company, partnered with DISCO, an eDiscovery platform provider, to offer managed review services powered by DISCO's AI technology. This collaboration aims to streamline review processes and reduce costs for legal teams.
In October 2023, Epiq, a leading eDiscovery and legal services provider, acquired Reveal Data, a cloud-based eDiscovery platform known for its AI-powered analytics. This move strengthens Epiq's cloud offerings and expands its global reach.
Influencing Trend:
Higher Demand for Cloud-Based E-Discovery Among SMEs
Market Growth Drivers:
Increase in Number of Litigations Across the Globe, The proliferation of IoT Devices Across Various Verticals and Overabundance of Stored Data and Growth in Compliance Requirements and Data Protection Regulations
Challenges:
Limited Technical Expertise for Managing the Advanced eDiscovery Mechanism, Integration of SaaS-Based eDiscovery With Traditional Platforms and Lack of Awareness of eDiscovery
Restraints:
Higher Cost of eDiscovery Platforms and Services and Contradiction Between Data Protection and eDiscovery
Opportunities:
Increased Demand for Predictive Coding to Simplify and Shorten the Document Review Process and Collaboration With Social Media Platforms Simplifies Litigation Processes
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and End-Use Industries