e-Discovery Market Enhancement and Growth Rate Analysis 2018-2026 Forecast by Global Top Players
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Global e-Discovery Market: Competitive Landscape
Major players operating in e-Discovery market include Xerox Corporation, Hewlett Packard Enterprise, EMC Corporation, Daegis Inc., Autonomy Corporation PLC, Guidance Software, Inc., FTI Consulting, Inc., Symantec Corporation, and Integron Managed Solutions. The major players are adopting partnership strategies in order to gain a competitive edge in the market. For instance, in August 2017, FTI Consulting, Inc. entered into a partnership with Exterro, Inc., which is a preferred provider of e-Discovery software in the legal and IT sectors. The aim of this partnership was to combine solutions of both companies to provide software, processes, and services that help simplify e-Discovery Suite, which in turn helps in providing more accurate facts for solving legal cases.
Increasing generation of ESI data is one of the major factors driving growth of the market
The increasing volume of ESI (Electronically Stored Information) data is one of the major factors driving growth of the market. Organizations are generating ESI data in the form of e-mails, instant messages, word processing documents, spreadsheets, shared drive data, business applications data, voice data, media files, voice recordings, data on cloud, and virtual environment among others unstructured data. For instance, according to International Data Group, unstructured data is growing at the rate of 62% per year and 93% of all data is expected to be unstructured by 2022. This growth is expected due to increasing number of organisations generating, creating, storing, and transferring data throughout the organization electronically. This in turn, is expected to increase the demand for e-Discovery solutions to help organizations meet regulatory requirements, meet records retention obligations, prepare and respond to litigations, and investigate into policy violations. This is thus expected to boost growth of the e-Discovery market.
Lack of awareness about e-Discovery is one of the major challenges hampering growth of the market
Lack of awareness about e-Discovery software and solutions is one of the major factors hampering growth of the market. Organizations face problems while resolving legal cases and implementing any new law in the organisation, due to lack of awareness regarding e-Discovery.
On the basis of deployment type, the cloud segment is expected to grow, exhibiting highest CAGR during the forecasted period
On the basis of deployment type, the cloud segment is expected to exhibit the highest CAGR during the forecasted period. Increasing adoption of cloud-based solution and services by enterprisers, in turn is expected to increase the cloud traffic. This in turn, is expected to drive growth of the cloud segment during the forecasted period. For instance, according to the CISCO analysis, in 2016, the cloud traffic was recorded at 6.0 ZB, which is projected to reach up to 19.5 ZB by 2021. Adoption of cloud-based solutions is increasing, as it helps organizations save on various types of cost such as infrastructure cost and hardware cost, which in turn helps utilise the saved costs in other activities that help strengthen the organization’s foothold in the market.
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Global e-Discovery Market: Regional Insights
North America held a dominant position in the global e-Discovery market in 2017, and is expected to retain its dominance throughout the forecast period. Various organizations in the region are shifting their workload to cloud-based platforms, in turn, driving growth of the market in the region. For instance, according to CISCO analysis, in 2015, in North America, the cloud traffic was 1891 EB and is estimated to reach 6844 EB by 2020.
Global e-Discovery Market Outlook: Taxonomy
• Legal Hold
• Early Case Assessment
• Data Processing
• Technology Assisted Review
• Data Production
By Deployment Type
By Service Type
• Training and Support
• Managed Services
• Banking, Financial Services, and Insurance
• Energy and Utilities
• Travel and Tourism
• IT and Telecom
• Media and Entertainment
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