Press release
The Growing Demand for eDiscovery in an Era of Expanding Electronically Stored Information : Strategic Insights Driving eDiscovery Market Momentum in 2025
eDiscovery
How Large Will the eDiscovery Market Size By 2025?
The growth of the ediscovery market has been robust in the past few years. The market is slated to witness an upswing from $14.27 billion in 2024 to $15.16 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.2%. Factors contributing to this historic phase of growth include an upsurge in electronic data volume, incessant growth in cybersecurity threats and incidents, an increase in legal and regulatory probes, a surge in the number of litigations, and the need for cost-effective yet efficient eDiscovery solutions.
How Big Is the eDiscovery Market Size Expected to Grow by 2029?
The ediscovery industry is predicted to experience rapid expansion in the forthcoming years, with its value projected to reach $22.57 billion by 2029, achieving a compound annual growth rate (CAGR) of 10.5%. The upswing in the upcoming period can be traced back to the intensifying concerns around data privacy and security, the surge in usage of blockchain technology, increasing needs for eDiscovery services in budding economies, challenges around cross-border data discovery induced by globalization, and the rising intricacies in data types and sources. Notable trends shaping the future course of the ediscovery market include the implementation of technology-assisted reviews (tar), incorporation of analytics and predictive coding, focus on data privacy and safeguarding, emergence of mobile and remote eDiscovery solutions, and the transformation of technology-driven eDiscovery processes.
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Which Key Market Drivers Powering eDiscovery Market Expansion and Growth?
The rising quantity of data stored electronically is projected to fuel the eDiscovery market's expansion. Electronically Stored Information (ESI) is any data created, updated, transmitted, or saved digitally. Recently, the ongoing digitization wave has caused a surge in such information. The diversity of ESI in terms of volume, formats, and origins that require documentation is on the rise. eDiscovery utilities are employed for digital scrutiny of electronically saved data, facilitating legal case and investigation evidence directly via the database. For example, the Department for Science, Innovation & Technology, based in the UK, reported in September 2024 that the digital sector provisionally added £158.3 billion to the UK's economy in 2022. This represented 7.2% of the UK's total GVA, a slight increase compared to 7.1% in 2021. Consequently, the proliferation of electronically stored information is stimulating the eDiscovery market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the eDiscovery Market?
The eDiscovery market is seeing an increase in the use of technological advancements, with major market players harnessing advanced technologies, particularly cloud-based solutions, to fortify their market presence. An example of this trend was demonstrated in March 2022 when Epic Systems Inc., a provider of software solutions based in the US, introduced the Epiq Service Cloud, designed to bolster legal service delivery efficiency for both corporate legal departments and law firms. The Epiq Service Cloud comprises a range of intelligence and productivity tools and utilizes cloud technology services to offer a centralized digital interface for Epiq's proprietary technology in addition to other third-party industry tools.
What Are the Emerging Segments in the eDiscovery Market?
The ediscoverymarket covered in this report is segmented -
1) By Component: Solutions, Services
2) By Organization Size: Large Enterprises, Small And Medium Enterprises (SEMs)
3) By Deployment Type: On-Premises, Cloud-Based, Hybrid
4) By End-User Vertical: BFSI, Retail Sector, Healthcare, Manufacturing, IT And Telecommunication, Government, Energy and Utility, Other End Users
Subsegments:
1) By Solutions: Software, Hardware
2) By Services: Consulting Services, Managed Services, Support And Maintenance Services
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Who Are the Global Leaders in the eDiscovery Market?
Major companies operating in the ediscovery market include Casepoint LLC, CloudNine Discovery Services Inc., Commvault Systems Inc., Conduent Incorporated, Conduent Inc., International Business Machines Corporation, Microsoft Corporation, KLDiscovery Inc., Deloitte Touche Tohmatsu Limited, Epiq Systems LLC, Exterro Inc., FTI Consulting Inc., Open Text Corporation., Zapproved Inc., Logikcull Inc., Everlaw Inc., Veritas Technologies LLC, ZyLAB Technologies LLC, Consilio LLC, ONE Discovery, Absolute Software Corporation, Amazon Web Services Inc., Iron Mountain Incorporated, Micro Focus International plc
Which are the Top Profitable Regional Markets for the eDiscovery Industry?
North America was the largest region in the eDiscovery market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the eDiscovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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