E-discovery Market
E-discovery Market (Component: Software and Services [Managed Services and Professional Services]; Deployme Medium Enterprises [SMEs] and Large Enterprises; and End-user: Government and Public Sector, Legal, BFSI, Energ and Consumer Goods, Manufacturing, IT and Telecommunications, and Others) - Global Industry Analysis, Size, Sh
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E-discovery Market Outlook 2031
The global E-discovery market was valued at US$ 10.2 Bn in 2020
It is estimated to expand at a CAGR of 8.9% from 2021 to 2031
The global E-discovery market is expected to exceed the value of US$ 25.9 Bn by the end of
Analysts’ Viewpoint on E-discovery Market Scenario
The E-discovery market is likely to grow due to expanding applications in several end-use industries, w hospitality, government, legal, information technology, and media & entertainment, among others. Th to reduce the chances of data theft and enable them in faster processing of documents. Leading player focusing on data production and technology-assisted review. However, there are certain restraints hind E-discovery services contradicts the idea of data protection directly. Moreover, the use of E-discovery se for household usage. These factors are affecting the growth of the market during the forecast period.
Rise in Demand for Data Security in Organizations Boost Market Growth
Electronic Discovery or E-Discovery is a process wherein electronic data is found, secured, and then during criminal or civil legal procedures. The electronic discovery can also be carried without the con computer. Government or court ordered hacking in order get critical information as evidence is also illegal in nature. The market for e-discovery is expected to grow significantly during the forecast per electronically stored data and rising criminal cases such as money laundering and tax fraud, etc.
The digital data has been found to be best during investigation, as it cannot be destroyed complete Furthermore, the digital data can be searched easily for evidence. Increasing number of cyber threat driving the demand for e-discovery solutions. The huge amount of data produced in the digital era expansion of the e-discovery market.
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Digitalization and Increasing Adoption of Advanced Technology Drive Global Market
In addition, governments of various countries are gradually digitalizing their operations and encoura to reduce their overhead cost. This, in return, is reducing the overhead cost of operations. Moreover to illegal immigration in developing countries such as the US and the UK These changes are expec
The Asia Pacific region is expected to witness strong growth in the near future due to the presence o China, which are investing heavily toward modernization initiatives in order to reduce manual labor usage of the E-discovery software in the Middle East & Africa region is creating opportunities for ma awareness of E-discovery solutions, growing investments by governments in such solutions, and tec contributing to market expansion.
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The latest research report published by Transparency Market Research pertains to the global E 2018–2019; 2020 is the actual year, and the forecast period is 2021-2031 Laws and government agencies focus attention on streamlining their operations and lowering advanced technologies, which has had a favorable influence on the growth of the E-discovery Supreme Court established a framework for demanding access to Electronically Stored Informa updates in PowerPoint notes, Microsoft Word documents, and other dynamic data, bolstering The smartphone segment has witnessed rapid development, particularly in India, countries of in South Asia and India are accelerating the global smartphone segment. Moreover, the growi networking sites such as Instagram, LinkedIn, and Facebook is expected to drive the demand f years.
Rising need to increase data governance practices in large and medium-sized enterprises is on expansion of the E-discovery market
The mounting volume of communication across e-mails have led to an increase in volume of d Electronically Stored Information (ESI). Governments around the world mandate that each and records for E-discovery purposes to keep a clear track of every transaction.
Increasing Adoption of E-discovery Services in Government Sector
Government departments across the globe have acknowledged the value of electronic records organizations, such as the Civil Division of the United States Department of Justice, have claim addition, governments have numerous regulations to be checked, when it comes to the forma “Paradise papers” case highlights the requirement for E-discovery in government institutions fo money laundering, tax fraud, and other crimes. Such examples demonstrate the importance of E-discovery for the government sector, which b
Rise of AI-based Analytics and Predictive Coding for E-discovery
Artificial Intelligence (AI) is transforming the legal profession and developments in AI-based an quality of E-discovery processes. Analytics is a technique for identifying and interpreting releva Analytics supports the management of growing data quantities, new forms of data such as soc monitoring of E-discovery expenditure, and compliance with new legislation. Predictive coding approach that employs computer algorithms and software to self-learn which documents are i
NUIX
KLDiscovery
Exterro Inc.
Logik Systems Inc.
Thomson Reuters
Knovos LLC Casepoint
Nextpoint Inc
CS Disco Inc.
Veritas
ONE Discovery Inc. etc.
E-discovery Market: Key Developments
Key providers of E-discovery, such as Microsoft Corporation, IBM Corporation, Open Text Corp Relativity, NUIX, KLDiscovery, Exterro, Inc., and Logik Systems, Inc., are focusing on the develop discovery to attract more customers
Additionally, players active in providing E-discovery are focusing on inorganic growth strategie merger & acquisition activities with technology partners to improve their offerings and market the global E-discovery market are highlighted below:
On May 10, 2021, Relativity and Proofpoint announced a partnership to combine Proofp solutions with Relativity's AI-enabled communication monitoring product, Relativity Trace
In October 2020, Nuix and noticia entered into a partnership. Noticia is a Nuix migration services provider, allowing Canadian government agencies, companies, and law firms to
On September 23, 2020, ZyLAB Insight will be available on its E-discovery platform. ZyLA can mechanically extract entity data from formless data sources. ZyLAB Insights will be a North America and Europe.
In the global E-discovery market report, we have discussed individual strategies, followed by c discovery. The ‘Competition Landscape’ section has been included in the report to provide rea market share analysis of key players operating in the global E-discovery market.
E-discovery Market Snapshot
Attribute Detail
Market Size
Value in 2020 (Base Year)
US$ 10.2 Bn Market
Competition Landscape
Market Share Analysis by Company (2020)
Detailed vendor profiling and insights on their key strategies for business g
Format Electronic (PDF) + Excel
Component Software Services Managed Services
Professional Services Maintenance and Support Training and Consulting Integration
Deployment On-premise Cloud
Market Segmentation
Enterprise Size
Small and Medium Enterprise Sizes (SMEs) Large Enterprise Sizes End-user
Government and Public Sector Legal BFSI Energy and Utilities Healthcare and Life Sciences Retail and Consumer Goods Manufacturing IT and Telecommunications Others
Regions Covered
North America Europe Asia Pacific Middle East & Africa South America
Countries Covered
U.S. Canada Mexico Germany U.K. France Spain Italy China India Japan ASEAN
Companies Profiled
Microsoft Corporation
IBM Corporation
Open Text Corporation
Deloitte ZyLAB
Micro Focus
Relativity NUIX
KLDiscovery Exterro, Inc.
Logik Systems, Inc.
Thomson Reuters Knovos, LLC
Casepoint
Nextpoint, Inc. CS Disco, Inc.
Veritas ONE Discovery Inc. Others
Customization Scope
Available upon Request
Pricing Available upon Request
E-discovery Market – Segmentation
TMR’s research study assesses the E-discovery market on the basis of component, deployment, ente presents extensive market dynamics and progressive trends associated with different segments, and of the E-discovery market.
Software Services
Managed Services
Professional Services
Component
Deployment
On-premise Cloud
Maintenance and Suppo Training and Consulting Integration
Enterprise
Small and Medium Enterprises (SME Large Enterprises