Global EDiscovery Market is valued at USD 9.1 billion in 2016 is anticipated to grow USD 23.3 billion with the compounded annual growth of 11% over the forecast period 2017-2025.
New York 1 July 2018, As per the new research study conducted by Bizwit Research & Consulting, Global EDiscovery industry is poised to raise USD 23.3 billion by 2025. Some key components for the market development will be; Decreasing the operational budget of legal departments and increasing number of litigations are expected to drive the market across all regions. The need to adhere to regulatory policies and laws worldwide and increase in the usage and penetration of mobile devices are other factors expected to drive the growth of the market. The rise in demand for predictive coding and an increase in the usage of social media is expected to offer great opportunities for eDiscovery vendors.
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Global eDiscovery Market Size study, by Component (Software (Processing, Review and Analysis, Identification, Preservation and Collection, and Production and Presentation) and Services), by Deployment Type (on-premises, cloud), by Organization Size (small & medium size enterprises, large enterprises), by Vertical (Government & public sector, legal, energy & utilities, manufacturing) and by Regional Forecasts 2017-2025
The industry seems to be fairly competitive. Some of the leading market players include OpenText, Nuix, Microsoft, IBM, microfocus, FTI, Zylab, EPIQ, fronteo, relativity, logikcull,and so on. Other market players discussed in the report include cloud nine, driven, IPRO, Veritas, Delottie, Ricoh. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The Asia Pacific region accounted for the largest market share, more than XX% of the total market in 2016.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation by around XX%
Bizwit Research & Consulting LLP has considered the following segments for the study:
By Deployment type:
By Organization size:
- small & medium size enterprises
- large enterprises
- government & public sector
- energy & utilities
- North America
- Asia Pacific
- Latin America
- Rest of the World