Global eDiscovery Market Attaining Size of USD 20.8 billion by 2024

The global eDiscovery market is predicted to grow at 9.8% CAGR during the forecast period with the market size reaching USD 20.8 billion by 2024. The market is driven by factors such as an increase in electronically stored information, increasing penetration of internet and social media, and increasing demand for better governance with data analytics. The Discovery of electronically stored information in the digital age has become an effective tool to efficiently analyze discover and manage data in different verticals, thus creating demand for these solutions.

Different solutions including data processing, legal hold, data production are majorly contributing to the eDiscovery market size. The market has witnessed significant demand for these solutions over the last few years due to the increasing regulatory compliance requirements, rapid exploration of IoT solutions and services providers across different verticals, and digitalization of government functionary utilizing data analytics for efficient governance.

Different industry verticals utilizing eDiscovery solutions include BFSI, government, energy & utilities, IT & telecom, legal, media & entertainment, healthcare. Of all the verticals, government sector accounts for the largest share of the eDiscovery market, globally. Government agencies require these solutions to make the right use of collected data from various sources such as social media, email communications, website content, IoT data, instant messages, text messages, government organization databases, workflow applications, and shared documents among others.

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North America accounted for the major share in the eDiscovery industry in 2017, globally the region is home to a large number of industry players and also have been in forefront of utilizing these platforms by different organizations such U.S. Federal Government, Litigation Industry and others. Asia-Pacific is observed to witness significant growth in the market during the forecast period. A large number of enterprises in the region are opting eDiscovery solutions and services to efficiently manage the stored data through different platforms.

Market players in the eDiscovery industry are investing capital to develop technologically advanced systems for data processing, legal hold, data production, early case assessment, among others. These players are also entering into partnerships, collaboration, acquisitions and also launching new products to cater to the demand of different organizations. Some of the key players operating in the global market are KrolLDiscovery LLC, AccessData Group LLC, Guidance Software, Inc., LexisNexis Group, Dell EMC, FTI Technology LLC, Microsoft Corporation, Symantec Corporation, IBM Corporation, Relativity, and Conduent Inc.

Global eDiscovery Market Coverage

Solution Insight and Forecast 2014-2024

• Data Processing
• Legal Hold
• Data Production
• Early Case Assessment
• Technology-Assisted Review

Component Insight and Forecast 2014-2024

• Software
• Services
  • Managed
  • Professional

Deployment Type Insight and Forecast 2014-2024

• Cloud-Based
• Hybrid
• On-Premise

Vertical Insight and Forecast 2014-2024

• BFSI
• Government
• Energy & Utilities
• IT & Telecom
• Legal
• Media & Entertainment
• Healthcare

Geographical Segmentation

eDiscovery Market by Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Italy
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• South Africa
• Saudi Arabia
• Rest of MEA

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