E-discovery Market, By Component (Solution/ Service, Software), By Solution End Customer (Regulatory or Government Agencies, Legal/ Law Firms, Small & Medium Size Enterprises), By Region – Global Analysis Forecast Till 2030

The Global E-discovery market was valued at $11.1 billion in 2021 and is expected to reach $26.1 billion by 2030, growing at a CAGR of 9.2% from 2022 to 2030

E-Discovery is a collection of processes for identifying, securing, acquiring, analyzing, reviewing, and creating electronically stored information (ESI). It is often used to conduct government investigations as well as civil or criminal proceedings. Emails, articles, images, spreadsheets, voice recordings, Internet outlets, computer applications, and other types of ESI are widely used eDiscovery resources.

Previously, an eDiscovery solution was a set of discrete software features that primarily dealt with ESI collection and review. More recently, however, the Electronic Discovery Reference Model (EDRM) has been developed to provide a clause structure to help customers implement eDiscovery solutions more effectively. Additionally, this model allows manufacturers and service providers to improve compatibility between solutions.

e-Discovery, also known as electronic discovery or electronic data discovery, refers to the process of identifying, preserving, and collecting electronically stored information (ESI) for legal purposes. Relativity eDiscovery is a popular software platform that assists in managing and analyzing vast amounts of data during the e-discovery process. This innovative tool streamlines the workflow, allowing legal professionals to review and produce relevant documents efficiently. In complex cases, advanced eDiscovery techniques, such as forensic eDiscovery, come into play, utilizing specialized methods to uncover hidden or deleted data. With the increasing reliance on electronic records, legal eDiscovery has become an integral part of modern litigation, ensuring a thorough and fair examination of digital evidence.

Market Dynamics:

Drivers:

Additionally, governments in many countries are increasingly digitizing their operations and encouraging their citizens to digitize to reduce overhead. In return, indirect operating costs are reduced. In addition, lawsuits due to illegal immigration in developing countries such as the United States and the United Kingdom are increasing worldwide. These changes are expected to create demand for the E-Discovery market over the forecast period.

In addition, the increasing adoption of smartphones and usage of digital wallets are expected to drive the e-discovery market. The E-discovery market provides services such as data processing, early case assessment, legal hold, technical support services, management services, consulting and training, and support services. The rising popularity of cloud-deployed services, artificial intelligence (AI), and machine learning (ML) across various end-use industries are likely to drive the market in the coming years. Implementing a cloud deployment model can help organizations reduce IT infrastructure and maintenance costs. Cloud deployment services also enhance an organization's global reach.

Key players:

• Microsoft

• IBM

• OpenText

• Deloitte

• Micro Focus

• ZyLAB

• Relativity

• Nuix

• Logikcull

• KLDiscovery

• Exterro

• Thomson Reuters

Market Segmentation:

E-discovery Market, By Component

• Solution/ Service

• Software (On-Premise and Off-Premise Software)

E-discovery Market, By Solution End Customer

• Regulatory or Government Agencies

• Legal/ Law Firms

• Small & Medium Size Enterprises

E-discovery Market, By Geography

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Spain

  • Italy

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Rest of Asia-Pacific

• LAMEA

  • Latin America

  • Middle East

  • Africa

Regional Analysis:

The North American region includes the United States, which is expected to dominate the region due to the continued adoption of cloud-based services across industries. Growing adoption of E-discovery solutions in various industries such as government and public sector, BFSI, legal, healthcare and life sciences, IT, and telecommunications in North America is fuelling the market growth in this region. In addition, Europe is expected to witness strong growth due to the presence of developed countries such as Germany, France, and the United Kingdom, which have introduced new technologies early.

The Asia Pacific region is expected to witness substantial growth in the near future due to emerging economies such as India and China investing heavily in modernization initiatives to reduce manual labor and operational costs. The growing use of E-discovery software in the Middle East and Africa region is creating opportunities for market players. Increasing awareness of E-discovery solutions, increasing government investment in these solutions, and technological advances are contributing factors to the expansion of the market.

Scope of the Report:

User

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