This E-Discovery market report also estimates the growth rate and the market value based on market dynamics and growth inducing factors. It is a well-versed fact that competitive analysis is the major aspect of any market research report and hence many points are covered under this including strategic profiling of key players in the market, analyse core competencies of key players, and draw a competitive landscape for the market. This E-Discovery report is built with the careful efforts of innovative, enthusiastic, knowledgeable and experienced team of analysts, researchers, industry experts, and forecasters.
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E-Discovery market is expected to rise from its initial estimated value of USD 12.49 million in 2018 to an estimated value of USD 69.79 million by 2026, registering a CAGR of 24.00% in the forecast period of 2019-2026. This rise in market value can be attributed due to the increasing adoption of electronic display devices equipped with the capabilities of interacting with various electrical appliances.
E-discovery or electronic discovery is a process in which electronic data is brought, located or searched with the intention of using it as a civil evidence or in any legal proceedings. It can also work offline on a particular computer. It has its wide application in government, legal sector, banking, financial services, and insurance, energy and utilities, healthcare, travel and hospitality, transportation and logistics, IT and telecom, media and entertainment, and others. Growing litigations globally and stringent policy and compliance regulations worldwide may act as the major driver in the growth of global e-discovery market. On the other hand high costing involved in solutions and services may hamper the market growth.
- Proliferation of IoT devices across various verticals and overabundance of stored data
- Increase in the number of litigations across the globe
- Focus on proactive governance with data analytics and emergence of new content sources
- Higher cost of eDiscovery platforms and services
- Contradiction between data protection and eDiscovery
Few of the major competitors currently working in the e-discovery market are Xerox Corporation, Hewlett Packard Enterprise Development LP, IBM Corporation, FTI Consulting, Inc., OpenText Corp., Relativity, AccessData, ZyLAB, Exterro, Inc., Nuix, Logikcull, Swiftype, Inc., Open Text Corporation, Cicayda, Ipro Tech, LLC, Sherpa Software, Safelink, Zapproved LLC., NextPoint, Inc., SysTools, DFLABS SPA, Docket Alarm, Inc., LexisNexis., Algolia and others.
Key Developments in the Market:
- In April 2019, Hewlett Packard Enterprise Development LP and Google Cloud join forces to accelerate innovation with hybrid cloud solutions optimized for containerized applications, This will also deliver ‘Everything’ as a Service to get a cloud experience everywhere and leverage the speed and agility of clouds, and avoid single cloud lock-in.
- In January, 2019, CloudNine announced substantial technology enhancements and updated product names on its discovery software products. The CloudNine product suite now includes CloudNine LAW, CloudNine Concordance, CloudNine Explore, and CloudNine Review.
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Global e-discovery market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of e-discovery market for global, Europe, North America, Asia-Pacific and South America.
Segmentation: Global E-Discovery Market
- By Solution
- Legal Hold
- Early Case Assessment
- Data Processing
- Technology Assisted Review
- Data Production
- By Deployment Type
- By Organisation Size
- Large Enterprises
- Small and Medium-Sized Enterprises
- By Vertical
- Government and Public Sector
- Banking, Financial Services, and Insurance
- Energy and Utilities
- Healthcare and Life Sciences
- Retail and Consumer Goods
- IT and Telecommunications
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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