E-Discovery Market projected to be over US$ 56 Bn Between 2018-2022

MarketResearch.biz announces publication of its most recently generated research report titled, “Global e-Discovery Market by Component (Software [On-Premise Software and Off-Premise Software], and Services), By Application, and Region/Country - Global Forecast to 2027.”, which offers a holistic view of the e-Discovery market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2018–2022) is projected to be over US$ 56 Bn, which is expected to increase significantly over the latter part of the five-year forecast period.

e-Discovery (also called Electronic discovery or e-discovery) refers to any process in which electronic data is sought, located, secured, and searched with the intent of using it as evidence in a civil or criminal legal case. e-Discovery can be carried out offline on a particular computer or it can be done in a network.

Global e-Discovery Market: Market Dynamics

Increasing initiatives by various governments globally due to increasing demand for e-Discovery is expected to have positive impact on growth of the global e-Discovery market in the fore coming years. In addition, increasing adoption of advanced technologies in public/government sectors to improve internal communication systems and external reach, and rising utilization of freedom of information Act (FOIA) in the US, coupled with exponentially increasing electronic data in this sector have resulted in need for transparency of information in the country. Thus, resulting in increased demand for e-Discovery, and in turn support market growth.

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However, high costs associated with e-Discovery initial installation is a major factor expected to restrain growth of the global market.

Increasing involvement of major players and local players into strategic collaborations to strengthen their position in the market is a key trend being observed in the global market currently.

Global e-Discovery Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global e-Discovery market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global e-Discovery market is expected to expand at a CAGR of 10.9% during the forecast period.

Global E-Discovery Market: Segmental Snapshot
The market report has been segmented on the basis of component type, application, and region/county. The component type segment includes software and services. The software segment is further sub-segmented into On-Premise Software and Off-Premise. The application segment corporate, education, government, and third-party planners. The regions/countries covered in the analysis includes North America, Europe, China, Japan, Southeast Asia, India, South America, Middle East & Africa, and Rest of the World.

By Component type: The software segment is expected to register highest CAGR of over 12% between 2018 and 2027

By Application: The government segment is projected register highest CAGR of over 11% over the forecast period, owing to increasing government initiatives and, especially in developed countries such as the US and the UK, is expected to create revenue opportunities for manufacturers in the future.

By Region/Country: The market in North America accounted for highest revenue share in the global e-Discovery market in 2017. The market in China is expected to register highest CAGR of over 11.5% between 2018 and 2027, owing to increasing adoption of e-Discovery solutions in civil litigations in the country.

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Global E-Discovery Market: Competitive Analysis

The research report on the global e-Discovery market include profiles of some of major companies such as Logik Systems, Inc., Nextpoint, Inc., CloudNine, Elevate Services, Inc. (E-STET), Zapproved LLC., Safelink Data Rooms, Ipro Tech, LLC, Sherpa Software, OpenText Corporation, and Cicayda, LLC.

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