E-Discovery Market Highlights:
The
global e-discovery market is slated to surpass a valuation of USD 24 billion by
2023 by maintaining a 20% CAGR during the forecast period of 2018 to 2023.
Market
Research Future (MRFR) has predicted that the market has significant growth
opportunities as factors like a significant hike in the electronic data stored
and produced, the inclusion of age group ratio, its ability to curb time in
assessing various records and understand the process, cost-efficiency, and
others are going to evolve as major contributors. However, the system requires
much improvement, especially in artificial intelligence and algorithms.
Competitive
Landscape:
The
global market report on the E-Discovery Market reveals an
understanding of major companies like FTI Technology LLC (U.S.), IBM
Corporation (U.S.), Zylab Technologies (U.S.), Kcura LLC (U.S.), Hewlett
Packard Enterprise (U.S.), Xerox Corporation (U.S.), Ernst & Young Global
Limited (U.K.), Logik (U.S.), Lexbe (U.S.), Navigant Consulting (U.S.), and
others.
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Segmentation:
The
e-discovery market has been studied and segmented by MRFR analysts to
understand dynamics that are influencing the market. It includes segments like
a solution, deployment, service, and vertical.
·
By solution, the
global e-discovery market can be segmented into early case assessment, data
processing, legal hold, and technology-assisted review and data production. The
technology-assisted review and data production has the scope to generate
maximum revenue and control the market. The TAR is known to consist of
reporting, duplication and predictive coding, visual analytics, searching and
workflow management.
·
By deployment, the
review of the e-discovery market comprises cloud and on-premise. Multiple
access points and cost-effective nature can boost the cloud segment.
·
By service, the
study of the e-discovery market has been segmented into consulting,
implementation, and training and support.
·
By vertical, the
global market study of the e-discovery market includes segments like
government, BFSI, legal, energy & utilities, healthcare, travel,
hospitality, transportation and logistics, IT and telecommunication, media and
entertainment, and others. The legal sector has increased the intake of this
system, which would bolster the market growth. Compliance requirements for
regulatory purpose and an internal investigation is encouraging enterprises to
ensure an adopt and inclusion of e-discovery services.
Regional
Landscape:
North
America and Europe have the scope to make the permeation process of the market
easier as their technological infrastructure is quite advanced and the ability
to invest is also significant. In Asia Pacific, booming industries are going to
make it easier for the market to expand their presence.
Industry
News:
In
August 2020, the Association of Certified E-Discovery Specialists (ACEDS), the
flag-bearer of e-discovery training and certification professional association
and also a part of The BARBRI Group, announced its planned collaboration with
legal technology leader Relativity to get access to latter’s Relativity Fellows
program. This program is designed to welcome motivated individuals from
overlooked communities to understand various details of the Relativity platform
and be an expert in legal technology. Using this partnership, ACEDS aims to
provide foundational e-discovery training to various participants.
In
September 2020, Commvault, a well-known player of the enterprise software in
the management of data in the various cloud and on-premises environments,
announced upliftments to Metallic, Commvault's enterprise-grade SaaS data
protection portfolio. New features will support a range of new workloads and
compliance needs, back various Microsoft applications, eDiscovery capabilities,
and adhere to the General Data Protection Regulation (GDPR) compliance.
The
global e-discovery software market is slated to benefit from changes made
during the COVID-19 pandemic. New regulations and work methods are expected to
support these changes.
Table of Contents
1 Market
Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
Continued….
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