E-Discovery Market 2018 Top Key Players Analysis by FTI Technology LLC, IBM Corporation, Xerox Corporation, Guidance Software, Relativity, Inc., KrolLDiscovery LLC, LexisNexis, Symantec Corporation and Dell EMC

We are living in an age of information. The rate at which data is being generated is truly exponential and this is done with the help of myriad sources. Whether, you are at work using Microsoft Word, email or PDF file or at home using text messages and posting on social media or even our appliances and watches (the “Internet of Things”) are constantly generating data. All of this collected information can be discoverable and in a way subjected to legal processes to some extent. In recent times, due to the mounting data privacy issues legal disputes in businesses or organization’s Litigation Portfolio and Electronic Discovery (E-Discovery) have gained attention and driving the global e-discovery market. Thus, the global e-discovery market size is expected to record a speedy growth at a CAGR of xx% and reach to USD xx B over the forecast period.

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Regional Overview and Applications of E- Discovery Market

Social media has been trending these days and moreover the platforms such as Facebook, Twitter and LinkedIn will spur the growth of global eDiscovery industry. This has offered electronic evidence of legal problems in abundance. Fetching data from such platforms demands the use of advanced techniques and tools, which increases the demand for these solutions. The solutions in the eDiscovery market have applications in various industries including BFSI, Healthcare, Legal Sector, Media & Entertainment, IT & Telecom, Energy & Utilities and Government. Legal sector’s contribution to the revenue generation stands at the second position.

From the geographical standpoint, in 2016 North America was the largest eDiscovery market whose contribution was approximately xx% in the global market. This region is anticipated to remain the largest eDiscovery sector in the upcoming years too. Gradually, regulatory and government authorities of these regions are choosing advanced components for litigations and investigations over the traditional data solutions.

Leading Players of E- Discovery Market

It can be seen that the rise of globalization has evidently mobilized the growing sector of multinational and global corporations, a trend which is surely not getting slow in the future due to stable economic push. Global E-Discovery industry is the most focused technology in the legal marketplace. Mergers and acquisitions have taken a high trajectory in market, digitization and globalization and a push of client-specific services will take it up in upcoming future.

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In 2016, there were major acquisitions done by DTI Consilio and LDiscovery Where the popular acquisition of Epiq Systems Inc. by Harvest Partners and OMERS Private Equity was valued at approx $1 billion, which is known as the largest in the industry. Post-merger, Epiq Systems Inc. is estimated to operate as a private entity and merged with DTI to operate under the name of Epiq.

Keeping up with the pace of ever-changing ecosystem of management and data modification, companies are moving towards more product based offerings instead of service- based offerings. For instance, FTI Technologies launched Contract Intelligence Services Practice to assist legal enterprises and advisors in making key decisions, meet regulatory requirements and leverage negotiations.

Some of the main players prevailing in e-discovery industry include FTI Technology LLC, IBM Corporation, Xerox Corporation, Guidance Software, Relativity, Inc., KrolLDiscovery LLC, LexisNexis, Symantec Corporation and Dell EMC.

Market Restraints of Global E-discovery Industry

Issues like cross-border confidentiality and jurisdictional variances will continue to complex eDiscovery, blocks the global e-discovery market growth. More companies are facing the challenge of collecting, reviewing, processing, and then producing data outside the United States.

Conclusion:

Discovery is a term used for the initial phase in legal trials, where opposite parties involved in disputes or any kind of legal case are asked to pass on relevant information and records, usually stored or gathered electronically, along with all other dynamic evidence related to the case. E-Discovery market is an abbreviation of electronic discovery market, which defines the procedure of discovery in civil litigation but implemented in electronic formats. It is inclusive of what is often referred to as Electronically Stored Information (ESI). Some of the ESI’s are, Instant messaging chats, emails, CAD/CAM files, documents, accounting databases, web sites and any other electronic information that holds relevant evidence in a lawsuit. “Raw Data” and “Meta Data” are included in eDiscovery, which is available for reviewing by forensic investigators for hidden evidences.

The right way of addressing eDiscovery is through showing pro-activeness in management of records and information with watching over the handling of probable eDiscovery industry requests. In e-Discovery legal processing, eDiscovery comes in picture from the time a lawsuit is foreseeable to the time the digital evidence is not presented in the court.

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