Global eDiscovery Market Size will reach USD 18.49 Billion by 2021: Zion Market Research
Sarasota, FL, Nov. 23, 2016 -- Zion Research has published a new report titled “eDiscovery Market (Software; On-Premise Software & Off-Premise Software and Services) for Government and Regulatory Agencies, Enterprises (Small, Mid and Large-Size Enterprises) and Law Firms - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, the demand for the global eDiscovery market was valued at USD 7,827.25 million in 2015 and is expected to generate revenue of USD 18,496.60 million by end of 2021, growing at a CAGR of 15.69% between 2016 and 2021.
eDiscovery is defined as a set of processes for the identification, preservation, collection, processing, review, analysis and production of electronically stored information (ESI). eDiscovery is usually done in the condition of criminal litigation procedures and for government investigations. eDiscovery documents can be produced in the form of photos, video, databases, and other file types. ESI is stored across an extensive range of corporate sources which may encompass databases, websites, and file stores, in addition to individual devices such as computers, smartphone, and laptops.
Browse through 29 Market Tables and 26 Figures spread over 110 Pages and in-depth TOC on “Global eDiscovery Market: Industry Size, Share, Trends, Segments, Analysis, and Forecast 2015-2021”.
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The eDiscovery market is mainly driven by the increasing age group ratio and volume of electronically stored information (ESI) per year. The increasing use of eDiscovery solutions in government and leading agencies for investigation process is also expected to positively impact market growth. Additionally, increasing acceptance of predictive coding, growing danger mitigation activities in organizations, increase in litigation, need for proactive solutions and growth of record management across various trades are some of the important factors driving the growth of the eDiscovery market. Apart from this robust growth in smartphones market and increasing use of social media networking sites such as LinkedIn, Instagram, and Facebook is also expected to fuel the growth of the eDiscovery market in the years to come. However, non favorable government policies and the high cost of eDiscovery is expected to limit the growth of this industry to some extent.
The eDiscovery market is segmented on the basis of components such as software and services. eDiscovery software market can be further classified as on-premise software & off-premise software. eDiscovery services were the leading segment of the eDiscovery market and accounted for 74.56% of the total revenue generated by the eDiscovery market in 2015. eDiscovery software segment was dominated by on-premise software in 2015. On-premise software segment held over 51.08% share of the global eDiscovery software market in 2015. However, the off-premise segment is expected to be the fastest growing segment during the forecast period. Growing demand for cloud computing and growing volume of digitally stored data are some of the key factors driving the off-premise software market segment.
Browse the full "eDiscovery Market (Software; On-Premise Software & Off-Premise Software and Services) for Government and Regulatory Agencies, Enterprises (Small, Mid and Large-Size Enterprises) and Law Firms - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/ediscovery-market
On the basis of end-users, the eDiscovery market is segmented as government and regulatory agencies, enterprises (small, mid and large-sized), law firms. Government and regulatory agencies dominated the global eDiscovery market in 2015 and accounted for around 50.54% share of the total revenue generated in 2015. However, enterprise segment is estimated to exhibit rapid growth during the forecast period owing to increasing adoption of eDiscovery solutions in small as well as large companies across the world.
North America dominated the e-discovery market due to growing penetration of eDiscovery solutions in civil litigations and need to improve information governance in corporations of all sizes. E-discovery has many applications in different industries such as government and regulatory agencies, enterprises (small, mid and large-sized), and law firms. North America is a big hub for electronic devices, the technology industry and different manufacturing industries across the world. Government and regulatory agencies were the leading end-user segment and it accounted for over 50% market share of total e-discovery market in 2015.
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It is the leading regional market for e-discovery used in small, mid and large-sized enterprises. U.S. was a major revenue contributor for e-discovery market in 2015. The U.S. is the key region in North America. Especially the Symantec Corporation, Xerox Corporation, Epiq Systems, Inc. and Guidance Software Inc. are some key players located in U.S. Therefore U.S. is playing a key role in the development of the future e-discovery industry. Symantec Corporation is one of the major players in cyber intelligence networks. Recently, Symantec Corp. revealed Symantec Endpoint Protection 14, the next evolution in endpoint innovation from the leader in endpoint security. Such product innovations indicate the potential growth of the e-discovery market in U.S.
North America was followed by Europe and Asia-Pacific in 2015. The technology advancement with awareness among users is expected to drive the regional e-discovery industry in the coming years. E-discovery market in Europe is expected to have moderate growth as compared to North America and Asia Pacific growth during the years to come.
Some of the key players operating in the global eDiscovery market include HP Autonomy, IBM Corporation, Daegis Inc., EMC Corporation, Symantec Corporation, Guidance Software Inc., Xerox Corporation, Epiq Systems Inc., FTI Consulting Inc., Navigant Consulting Inc., Integreon Managed Solutions Inc., and Catalyst Repository Systems Inc.
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The report segments of global eDiscovery Market as follows:
eDiscovery Market: Component Segment Analysis
eDiscovery Market: Regional Segment Analysis
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