E-Discovery Market - Overview
Market
Research Future (MRFR), in its latest the global E-Discovery
Market report, states that the
world e-discovery market 2020 is poised to value at USD 24 Bn. Through the
forecast period 2017-2023, the E-discovery market is expected to rise at about
20% CAGR. The growing utility of electronic discovery or e-discovery to collect,
identify, and produce ESI as a response to the production request for law suit
and investigation can boost the growth of the e-discovery market. The
electronically stored information contains social media, websites, voicemail,
video and audio files, documents, databases, emails, presentations, and more.
The performed of e-discovery on computer network can boost the e-discovery
market growth.
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There
are different drivers of the e-discovery market. They are identified by Market
Research Future (MRFR), including the penetration of Internet of Things into
cash rich industries, plus the growing volume of digital assets in government
agencies and other reputed enterprises. Initiatives and the support by various
government to implement e-discovery process across enterprises of different
size can boost the expansion of the market.
The
rise in the utility of social media platforms, such as LinkedIn, Twitter, and
Facebook and increased implementation of data protection regulations can boost
the expansion of the market. The high compliance need for the growing demand
for forensic tools, analytics, and business intelligence (BI) can impel the
expansion of the e-discovery market. The increased utility of social media
platforms that provide electronic evidence that concern legal matters can impel
the expansion of the global e-discovery market.
Market
Segmentation
MRFR’s
segmental study of the world e-discovery market is based on deployment,
solution, vertical, and service.
The
solution based segments of the market are technology assisted review and early
case assessment. The assisted review technology can secure the largest share of
the world market in the predicted years.
The
deployment based segments of the e-discovery market are on-cloud and
on-premise. The on-cloud based segment can dominate the overall market in the
study period. The growing influence of the technology across businesses due to
benefits, such as portability, compliance, flexibility, security, increased
storage, and scalability can prompt the expansion of the market in the years to
come.
The
service based segments of the e-discovery market are training, consultant, and
support.
The
vertical based segments of the e-discovery market are energy and utilities, IT
and telecommunication, transportation and logistics, and legal sector. The IT
and telecommunication based segment can impel the expansion of the market in
the predicted years.
Regional
Analysis
The
e-discovery market segment reveals growth opportunities and the latest trends
of the market across Asia Pacific and Europe, followed by North America and the
Rest of the World. In North America, the e-discovery market can generate
considerable revenue due to the rise in technology implementation, better
network infrastructure, and digitization. Digitization, and other technological
advancements, plus economies can benefit the regional market. The presence of
different key players can boost Asia Pacific e-discovery market in the
assessment period. The rise in the implementation of software by small
enterprises can boost the expansion of the e-discovery market. The high demand
for e-discovery due to rise in the need for better productivity across
organization can impel the expansion of the market.
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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