Dublin, May 12, 2023 (GLOBE NEWSWIRE) -- The "eDiscovery Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This reportprovides strategists, marketers and senior management with the critical information they need to assess the market.
The global eDiscovery market grew from $13.15 billion in 2022 to $14.23 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The eDiscovery market is expected to grow to $19.51 billion in 2027 at a CAGR of 8.2%.
Major players in the eDiscovery market are Casepoint LLC, CloudNine, Commvault Systems Inc., Conduent Incorporated, CS Disco Inc., Driven Inc., Epiq Systems Inc., Exterro Inc., Fronteo Inc., Reveal Data Corporation, International Business Machines Corporation, Ipro Tech LLC, Knovos LLC, Lighthouse eDiscovery Inc., Catalyst Repository Systems, Consilio LLC, Everlaw Inc., Guidance Software Inc and ONE Discovery Inc.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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eDiscovery refers to services used for obtaining and exchanging electronic data that is sought, located, secured and searched by organizations in the initial phases of litigation. They are used when involved parties are required to provide relevant records and evidence related to a case. Electronic discovery also referred to as electronic discovery process of obtaining and exchanging evidence in a legal case or investigation.
The main types of e-discovery market components are solutions and services. Solutions are used to facilitate and automate the process of eDiscovery, which includes identifying, collecting, preserving, processing, reviewing, and analyzing digital data that supports the legal discovery process.
A solution as a component refers to an action or process of solving a problem. They are used by large enterprises and small and medium enterprises. The various deployment types are on-premises, cloud-based, and hybrid. The various end users are BFSI, retail sector, healthcare, manufacturing, IT and telecommunication, government, energy and utility, and others end users.
Technological advancement is a key trend gaining popularity in the eDiscovery market. Major market players are focusing on the implementation of advanced technologies that work on cloud-based technology to strengthen their position in the market.
For Instance, in March 2022, Epic systems Inc., a US-based software solutions company, launched the Epiq Service Cloud to Empower Legal Service Delivery Excellence for Corporate Legal Departments and Law Firms. A collection of intelligence and productivity tools may be found in the Epiq Service Cloud. With the help of cloud technology services that help to provide a centralized digital experience for Epiq's proprietary technology and other third-party industry tools.
North America was the largest region in the eDiscovery market in 2022. 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 and Africa.
The countries covered in the eDiscovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The increasing amount of electronically stored information is expected to drive the demand for the eDiscovery market going forward. Data that is generated, updated, sent, and stored digitally is referred to as electronically stored information (ESI). In the recent past, growing digitization has seen an explosion in electronically stored information.
The amount, formats and sources of electronically stored information that needs to be recorded are becoming more diverse. eDiscovery tools are used to perform digital investigation tasks for electronically stored data. Also, helps in exchanging evidence in a legal case or investigation directly through the database.
For instance, according to Forbes, a US-based business magazine, in 2020 the amount of data created, captured, copied, and consumed in the world has reached 59 trillion gigabytes. Furthermore, according to data by Logikcull, a US-based company offering legal the eDiscovery software solution, 2.5 exabytes of data are created every day. Therefore, the increasing amount of electronically stored information is driving the growth of the eDiscovery market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $14.23 billion |
| Forecasted Market Value (USD) by 2027 | $19.51 billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. eDiscovery Market Characteristics
3. eDiscovery Market Trends And Strategies
4. eDiscovery Market - Macro Economic Scenario
4.1. COVID-19 Impact On eDiscovery Market
4.2. Ukraine-Russia War Impact On eDiscovery Market
4.3. Impact Of High Inflation On eDiscovery Market
5. eDiscovery Market Size And Growth
5.1. Global eDiscovery Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global eDiscovery Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. eDiscovery Market Segmentation
6.1. Global eDiscovery Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Solutions
- Services
6.2. Global eDiscovery Market, Segmentation By Organization Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Large Enterprises
- Small And Medium Enterprises (SEMs)
6.3. Global eDiscovery Market, Segmentation By Deployment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- On-Premises
- Cloud-Based
- Hybrid
6.4. Global eDiscovery Market, Segmentation By End-User Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- BFSI
- Retail Sector
- Healthcare
- Manufacturing
- IT And Telecommunication
- Government
- Energy and Utility
- Other End Users
7. eDiscovery Market Regional And Country Analysis
7.1. Global eDiscovery Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global eDiscovery Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/jliuoa
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