E-Discovery Market by Solution (Legal Hold, Early Case Assessment, Data Processing, Data Production), Service (Consulting, Implementation, Training & Support, Managed), Deployment Type (CLOUD, On-premises), and Vertical – Global Forecast to 2021
“The global increase in litigations is driving the growth of the E-Discovery market”
MarketsandMarkets estimates the global E-Discovery market to grow from USD 7.89 billion in 2016 to USD 22.62 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.4%. The E-Discovery market is growing rapidly as the business environment is getting increasingly litigious, due to global increase in difficult conditions for businesses. However, factors such as lack of awareness about E-Discovery is the major restraint in the overall growth of the market.
“Data processing solutions to have the largest market size in 2021”
Data processing solutions segment is estimated to have the largest market size in 2021, owing to the increase in data production around the world. Massive data growth rates result in an increase in the amount of electronic documents being generated, which are used during litigations. The growth in data processing would also be due to the massive increase in social media communication resulting in data proliferation. Other factors responsible for its largest market share include benefits such as reduction in document maintenance costs, as well as simplification and consolidation of a variety of document formats.
Get More Details on this Report and a Full Table of Contents at E-Discovery Market – Global Forecast to 2021
“Managed services type to have the highest growth rate during the forecast period”
Managed services provide end-to-end E-Discovery support to organizations, which is the main reason for its high adoption. The managed services type is gaining traction in the E-Discovery market as it helps organizations to leverage the advantages of technology-enabled E-Discovery solutions setup off-premises, which helps in reducing storage infrastructure costs. This segment is expected to witness the highest CAGR during the forecast period.
“Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period”
APAC includes economies, such as India, China, Japan, Singapore, and others, which are rapidly deploying E-Discovery solutions and services. This is mainly due to the rise in outbound investment from countries such as India and China, which integrates APAC economies with foreign economies and as a result drives cross-border litigations and disputes. The North American region is expected to be the largest revenue generating region for E-Discovery solution and service providers in 2016. This is due to the high focus on innovations obtained from research & development and technology adoption, especially in the developed economies of North America.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the E-Discovery market place.
-By Company: Tier 1: 34%, Tier 2: 40%, and Tier 3: 26%
-By Designation: C-level: 72%, Director-level: 18%, and others: 10%
-By Region: North America: 57%, Europe: 17%, APAC: 19%, and ROW: 7%
The report includes the study of key players offering E-Discovery solutions and services: kCura LLC, AccessData, FTI Consulting, Inc., IBM Corporation, Guidance Software, Inc., ZyLAB, Nuix, Xerox Corporation, Hewlett Packard Enterprise Development LP, and Exterro, Inc. are some of the companies profiled in the report.
The report includes in-depth competitive analysis of these key players in the E-Discovery market, with their company profiles, SWOT analysis, recent developments, and key market strategies. The research report segments the E-Discovery market by solution, deployment, service type, industry and region.