eDiscovery Market Trends 2020 - Growth Statistics By Component, Deployment Type & End-Use Forecast To 2025
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eDiscovery market from the IT & telecom segment is gaining high traction due to the growing demand to reduce disruptions in businesses or regulatory investigations. The increasing number of subscribers in this sector is resulting in huge data generation while enterprises in the sector are required to deal with huge unstructured & structured data, proliferating market growth. The eDiscovery software offers advantages, such as tracking & recording data, privacy & security of data, continuous upgrades on new regulatory compliances, and cost-effectiveness. This software facilitates enterprises in the IT & telecom sector to validate the data content to answer the legal charges and review their data or tariff plan processing, proliferating eDiscovery industry share.
The increasing number of social media users across the world and the growing demand for predictive coding are driving eDiscovery market demand. The identification, preservation & collection segment is estimated to grow at a significant CAGR due to the rising need for easy identification, preservation, and collection of data during a legal case. The software helps locate potential sources of information such as word documents, websites or emails of Electronically Stored Information (ESI). It helps for further processing of collected data while ensuring the credibility of data and protecting it from misuse.
Some of the major players operating in the eDiscovery market are AccessData Group, Inc., Advanced Discovery Inc., CloudNine, Commvault, Conduent, Inc., Deloitte Touche Tohmatsu Limited, EPIQ Systems, Inc., FRONTEO Inc., IBM Corporation, Micro Focus International plc, Microsoft Corporation, Thomson Reuters Corporation, Veritas Technologies LLC, and ZyLAB Technologies.
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The eDiscovery solution providers are focusing on strategic alliances with other market players to improve their offerings and expand their geographical presence. For instance, in March 2018, CloudNine acquired eDiscovery product suite from LexisNexis. The acquired product suite was rebranded to CloudNine Explore (formerly Early Data Analyzer or EDA), CloudNine LAW, CloudNine Concordance, and its incumbent CloudNine Review, which provide an end-to-end eDiscovery solution to its clients.
eDiscovery market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025 for the following segments:
eDiscovery market By Component, 2014-2025 (USD Million)
o Identification, Preservation & Collection
o Processing, Review & Analysis
o Production & Presentation
o Managed Services
o Support & Maintenance
o Training, Consulting & Integration
eDiscovery market By Enterprise Size, 2014-2025 (USD Million)
• Small & Medium Enterprises (SMEs)
• Large Enterprises
By Deployment Type, 2014-2025 (USD Million)
By End-Use, 2014-2025 (USD Million)
• Energy & Utilities
• Government & Public Sector
• Healthcare & Life Sciences
• IT & Telecom
• Retail & Consumer Goods
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