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Top Trends Impacting the Global eDiscovery Market

Blog Description

Electronic discovery, or ediscovery, is discovery in government investigations and litigations, wherein information is exchanged electronically. This data, also referred to as electronically stored information (ESI), are subject to agreed-upon processes and local rules and are reviewed before handing it over to the opposing party.

Browse the full Global eDiscovery Market Report: http://www.mrrse.com/ediscovery-market

eDiscovery solutions enable data in the form of emails, text, databases, images, audio files, animations, spreadsheets, websites, and computer programs to be presented as evidence in judicial cases. Today, ediscovery services are being utilized by several industry verticals including law, energy and utilities, travel and hospitality, media and entertainment, government, banking, financial services, and insurance (BFSI), education, IT and telecom, and transportation and logistics.

What Drives the eDiscovery Market?

A report by Transparency Market Research indicates that the global ediscovery market is poised to grow from a value of US$5.5 bn in 2013 to US$21 bn in 2022. If these values hold true, the worldwide ediscovery market is likely to register an impressive 16.20% CAGR from 2014 to 2022.

Let’s take a look at some of the leading trends that govern the ediscovery market.

  • Rising acceptance of social media platforms such as Facebook, Twitter, LinkedIn, and Instagram across organizations for marketing purposes has created increased demand for ediscovery solutions.
  • Growing number of litigations and investigations over the past several years is fuelling the demand for ediscovery services such as gathering, reviewing, processing, and storing required data.
  • Even though on-premise ediscovery software has been dominating the demand in the past, the burgeoning volume of digital data and rising demand for cloud computing is likely to push off-premise ediscovery software to the forefront.
  • Government and regulatory agencies have since long been the leading end users of ediscovery solutions, making up for over half of the overall demand.
  • An increasing number of small, mid, and large enterprises in countries such as South Africa, the US, China, Brazil, the UK, and South Korea have been adopting ediscovery solutions to ensure efficient internal investigations of human resource and corporate policies.
  • The growing need to improve information governance in corporations and mounting use of ediscovery solutions in civil litigations has made North America the leading market for ediscovery services and solutions.
  • Developing economies, improving infrastructure, and supportive government initiatives are sure to boost the ediscovery market in Asia Pacific, one of the most lucrative regions in the world.
  • The highly competitive nature of the ediscovery market is likely to spur future mergers and acquisitions by leading players in order to retain and expand market share. 

Browse the full Press Release of Global eDiscovery Markethttp://www.mrrse.com/ediscovery-industry

The most note-worthy players competing in the global ediscovery market include Navigant Consulting Inc., EMC Corporation, Epiq Systems Inc., Xerox Corporation, HP Autonomy, Guidance Software Inc., Catalyst Repository Systems Inc., Symantec Corporation, FTI Consulting Inc., IBM Corporation, Daegis Inc., and Integreon Managed Solutions Inc.