E-discovery market is estimated to attain a valuation of US$ 10.2 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 8.9% during the forecast period, 2021-2031
E-discovery, short for electronic discovery, refers to the process of identifying, collecting, and analyzing electronically stored information (ESI) for use in legal proceedings. This involves emails, documents, databases, social media content, and more. The market for E-discovery solutions and services has experienced substantial growth due to the increasing volume of digital data and the need for efficient data management in legal matters.
The latest research study released by Transparency Market Research on “E-discovery Market Forecast to 2021-2031 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the E-discovery industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
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Key Drivers of the E-discovery Market:
- Rise in Digital Data Volume: The exponential growth of digital data across various sectors has led to a surge in demand for E-discovery solutions. Enterprises require effective tools to manage, sort, and analyze vast amounts of electronic information.
- Legal and Regulatory Compliance: Stringent regulatory requirements and evolving legal frameworks worldwide necessitate comprehensive E-discovery solutions. Compliance with laws like GDPR, HIPAA, and others mandates meticulous handling of electronic data, driving the adoption of E-discovery tools.
- Litigation and Investigations: Increasing litigation cases, investigations, and legal disputes in businesses propel the need for efficient E-discovery. Companies seek reliable tools to swiftly collect and analyze electronic data to support legal proceedings.
- Advancements in Technology: Technological advancements, including AI, machine learning, and data analytics, have revolutionized E-discovery. These innovations improve accuracy, speed, and efficiency in sorting through vast datasets, making the process more effective and cost-efficient.
- Data Security Concerns: Heightened concerns regarding data breaches and cybersecurity threats emphasize the importance of secure data management. E-discovery tools that prioritize data security and encryption are in high demand to protect sensitive information during legal processes.
E-discovery Market: Key Players
Some of the key players profiled in the report are:
- IBM Corporation
- Microsoft Corporation
- Deloitte
- Open Text Corporation
- Micro Focus
- ZyLAB
- NUIX
- Relativity
- Exterro Inc.
- KLDiscovery
- Thomson Reuters
- Logik Systems Inc.
- Knovos
- Nextpoint Inc
- Casepoint
- Veritas
- CS Disco Inc.
- ONE Discovery Inc.
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E-discovery Market Segmentation
Component
- Software
- Services
- Managed Services
- Professional Services
- Maintenance and Support
- Training and Consulting
- Integration
Deployment
- On-premise
- Cloud
Enterprise
- Small and Medium Enterprises (SMEs)
- Large Enterprises
End-user
- Government and Public Sector
- Legal
- BFSI
- Energy and Utilities
- Healthcare and Life Sciences
- Retail and Consumer Goods
- Manufacturing
- IT and Telecommunications
- Others
This Report lets you identify the opportunities in E-discovery Market by means of a region:
- North America (the United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
- South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)
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Key Features of the E-discovery Market Report: –
➤ Analyze competitive developments such as expansions, deployments, new product launches, and market acquisitions.
➤ Examine the market opportunities for stakeholders by identifying higher growth sections.
➤ To study and analyze the global E-discovery industry status and forecast including key regions.
➤ An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.
➤ It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter’s Five Forces analysis to provide a deeper understanding of the market.
➤ It helps you make strategic business decisions and investment plans.
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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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