The Global Market for eDiscovery (Software and Services) is Projected to Reach US$11.6 Billion by 2020

Growing Demand from Governments & Private Enterprises to Drive the eDiscovery Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on eDiscovery (Software and Services). The global market for eDiscovery (Software and Services) is projected to reach US$11.6 billion by 2020, driven by growing demand from governments and private enterprises, rise in criminal prosecutions & civil litigations, and increased investigational admissibility of digital data.

eDiscovery software and services have become necessary tools for enterprises aiming to resourcefully respond to legal, regulatory and investigational requirements. Aggravated by ever-growing volumes of electronically stored information (ESI), enterprises are facing mounting challenges in collection, review and storing of digital data for use in litigation, regulatory and investigation processes. Massive increases in electronic business-to-business (B2B) and business-to-consumer (B2C) communication, growing use of smartphones, tablets and other Internet-enabled systems for enterprise communication, and rising importance of big data in day-to-day business operations are driving ESI volumes in enterprise environments. The data explosion is creating challenges for enterprise IT and legal departments to efficiently handle and manage data for use in active litigation and/or internal investigations. Enterprises of all sizes, including large companies, MNCs, and small and medium-sized businesses (SMBs) are feeling the need for eDiscovery software and services. Additionally, the growing number of criminal investigations and civil litigations embroiling enterprise operations, along with the need for internal investigations for compliance and regulatory purposes, will pressurize  enterprises to prioritize deployment of eDiscovery software and services.

Digital data is ideally suitable for investigational purposes and is a major factor fuelling wider adoption of the eDiscovery concept. Digital data can be searched and explored with ease as compared to paper documents. The market is witnessing strong demand for eDiscovery services, primarily in the core verticals of collection, processing, reviewing, and professional consulting. The market is also experiencing steady demand for software solutions, especially cloud-based solutions and hosted licensing. Globally, there has been a steady and sizeable increase in the number of criminal prosecutions and civil litigations targeting enterprises. Litigation threats emerging from commercial & business disputes constitute a critical issue for  enterprises, thus encouraging the implementation of innovative procedures and tools to reduce litigation risks.

As stated by the new market research report on eDiscovery (Software and Services), the United States represents the single largest market worldwide. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 22.5% over the analysis period.

Leading players covered in the report include AccessData Group Inc., Catalyst Repository Systems, CommVault, Daegis Inc., Driven, Inc., EMC Corporation, Epiq Systems Inc., FTI Consulting Inc., Guidance Software Inc., HP Autonomy, IBM Corporation, Integreon Inc., Kroll Ontrack Inc., kCura, LDiscovery LLC, LexisNexis, Navigant Consulting Inc., Recommind Inc., Stroz Friedberg, Symantec Corporation, Xerox Corporation, and ZyLAB Technologies B.V., among others.

The research report titled “eDiscovery (Software and Services): A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of the value chain, market trends as well as challenges, growth  drivers, and regulations in the global and regional eDiscovery markets. The report provides market estimates and forecasts of eDiscovery (Software and Services) dollar revenues for geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. The global market is also analyzed by major segments, eDiscovery Software, and eDiscovery Services.