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eDiscovery Market Analysis by Segments: Component & End-user, Application, Growth, Trends, Opportunity & Forecast 2017-2023 Key Players Symantec Corporation, Xerox Corporation, HP Autonomy, Guidance Software Inc., FTI Consulting Inc., EMC Corporation

11-13-2018 10:34 AM CET | IT, New Media & Software

Press release from: Allied Market Research

eDiscovery Market Analysis by Segments: Component & End-user,

eDiscovery (or electronic discovery) outlines discoveries in government investigations. The term mainly focuses on the exchange of data in ESI (or electronically stored information). The emergence of electronic discovery tools has empowered enterprises to return information results fast, in response to the investigations. However, regulatory compliance is not the only factor favoring the eDiscovery market here, as internal governance and diligence electronic requirements also figure robustly in this market. Furthermore, collection based electronic discovery innovations influence information technology in two ways.

Firstly, it enables GRC, gather and review huge electronically stored information. Secondly, it aids information technology to manage storage operations by automatizing retention schedules. Besides this, increasing cost of litigation among companies, rising compliance needs, indispensable demand for more proactive services, emergence of content sources as well as lowering the overabundance of stored information are few of the many drivers of the eDiscovery market. On the other hand, existing apprehensions over high costs in electronic discovery and lack of knowledge about the influences of the solutions are the major restraining factors of the market.

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Moreover, with litigants producing electronic data along with paper documents have created greater opportunities for market. Amendments made to FRCP in 2006 made all electronically stored information including voicemails, graphics, emails etc. on handheld devices or smartphones discoverable in legal action. The eDiscovery market is segmented in terms of components, end user and geography.

Some of the major components of the market consists of on-premises software, off premise software and services. The prominent end users of the market includes regulatory and government agencies, law firms, small and medium enterprises (or SMEs) among others. Regions such as Europe, Asia Pacific and North America experience the highest adoption rate and utilization of eDiscovery solutions.

On contrary, other regions including Middle East, Africa as well as Latin America are giving a serious thought to the eDiscovery products and solutions. A closer look at the competitive landscape reveals that major IT brands are busy launching eDiscovery platforms and generating clients in the same month itself.

Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations. Brands such as Symantec Corporation, Xerox Corporation, HP Autonomy, Guidance Software Inc., FTI Consulting Inc., EMC Corporation, Navigant Consulting, Integreon Managed Solutions Inc., Catalyst Repository Systems Inc. and more are believed to occupy a major market share.

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EDISCOVERY MARKET SEGMENTS:

Market by Solution By Component-

•Solution/ Service
•Software (On Premise and Off Premise Software)

Market by Solution End Customer-

•Regulatory or Government Agencies
•Legal/ Law Firms
•Small & Medium Size Enterprises

Market by Solution Geography-

•North America
•Europe
•Latin America
•Middle East & Africa
•Asia Pacific

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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