The ediscovery global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
eDiscovery Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The ediscovery market size has grown strongly in recent years. It will grow from $13.53 billion in 2023 to $14.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increased volume of electronic data, continued growth in cybersecurity threats and incidents,, rise in legal and regulatory investigations, growing number of litigations, need for efficient and cost-effective ediscovery solutions.
The ediscovery market size is expected to see strong growth in the next few years. It will grow to $20.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to growing need for data privacy and security, increasing use of blockchain technology, growing demand for ediscovery services in emerging economies, globalization and cross-border data discovery challenges, increasing complexity of data sources and types. Major trends in the forecast period include adoption of technology-assisted review (tar) in ediscovery, integration of analytics and predictive coding in ediscovery, emphasis on data privacy and protection, rise of remote and mobile ediscovery solutions, evolution of technology-driven ediscovery workflows.
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Scope Of eDiscovery Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increase in 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, it 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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The ediscovery market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Organization Size: Large Enterprises, Small And Medium Enterprises (SEMs)
3) By Deployment Type: On-Premises, Cloud-Based, Hybrid
4) By End-User Vertical: BFSI, Retail Sector, Healthcare, Manufacturing, IT And Telecommunication, Government, Energy and Utility, Other End Users
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Regional Insights –
North America was the largest region in the ediscovery market in 2023. 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, Africa
Key Companies –
Major companies operating in the ediscovery market report are Casepoint LLC, CloudNine Discovery Services Inc., Commvault Systems Inc., Conduent Incorporated, Conduent Inc., International Business Machines Corporation, Microsoft Corporation, KLDiscovery Inc., Deloitte Touche Tohmatsu Limited, Epiq Systems LLC, Exterro Inc., FTI Consulting Inc., Open Text Corporation., Zapproved Inc., Logikcull Inc., Everlaw Inc., Veritas Technologies LLC, ZyLAB Technologies LLC, Mimecast Ltd., Proofpoint Inc., Gen Digital Inc., Consilio LLC, ONE Discovery, Absolute Software Corporation, Dun & Bradstreet Inc., Informatica Inc., SAS Institute Inc., Broadcom Inc., Amazon Web Services Inc., OneTrust LLC, TrustArc Inc., Iron Mountain Incorporated, Hindustan Computers Limited Technologies, Micro Focus International plc
Table of Contents
1. Executive Summary
2. eDiscovery Market Report Structure
3. eDiscovery Market Trends And Strategies
4. eDiscovery Market – Macro Economic Scenario
5. eDiscovery Market Size And Growth
…..
27. eDiscovery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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