The global eDiscovery market reached a value of US$ 11.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 18.5 Billion by 2027, exhibiting a CAGR of 8.49% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
eDiscovery refers to the process of recognizing, collecting and presenting electronically stored information (ESI) used for legal investigations. It consists of investigating emails, documents, presentations, databases, voicemails, social media data and audio and video files. It also includes raw data and metadata that forensic investigators review to trace hidden evidence. This evidence is further extracted and analyzed using various cyber-forensic procedures and converted to digital formats to be presented into the court. They aid in identifying patterns and conducting analytical research that is used for investigating legal, constitutional, political and privacy issues.
Rapid digitization, along with the increasing utilization of the Internet of Things (IoT)-enabled devices, is one of the key factors driving the growth of the market. Widespread adoption of IoT and cloud computing systems has significantly enhanced the generation of digital data, thereby increasing the demand for eDiscovery solutions for accessing and recovering traces of information. Furthermore, extensive utilization of these systems for enforcing compliance, translation and data security by various government organizations is also providing a boost to the market growth. Litigations are now primarily based on high volumes of electronic data that are retrieved using eDiscovery solutions. The enhanced focus of legal and government organizations to streamline their operations and minimize operational costs by adopting advanced technologies is positively impacting the market growth. Other factors, including an increasing amount of electronically stored information and rising instances of felonies, such as money laundering and tax fraud, are expected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global eDiscovery market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment type, end-user and vertical.
Breakup by Component:
Breakup by Deployment Type:
Breakup by End-User:
Government/Federal Agencies, Legal and Regulatory Firms
Breakup by Vertical:
Retail and Consumer Goods
IT and Telecommunication
Energy and Utilities
Healthcare and Life Science
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Accessdata Group Inc., Commvault Systems Inc., Conduent Incorporated, Driven Inc. (Xplenty), Fronteo Inc. (Formerly UBIC), FTI Consulting, International Business Machines Corporation, Logikcull, Micro Focus International Plc, Nuix Pty Ltd. (Macquarie Group), Open Text Corporation, Veritas Technologies LLC (The Carlyle Group), ZyLAB Technologies, etc. Key Questions Answered in This Report:
How has the global eDiscovery market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global eDiscovery market?
What is the breakup of the market based on the component?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the end-user?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global eDiscovery market and who are the key players?
What is the degree of competition in the industry?