eDiscovery Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Global eDiscovery Market Insights

According to a report from Zion Market Research, the global eDiscovery Market was valued at USD 12.46 Billion in 2023 and is projected to hit USD 25.11 Billion by 2032, with a compound annual growth rate (CAGR) of 8.1% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the eDiscovery Market industry over the next decade.

Request Free Sample

Global eDiscovery Market Market Overview     

The rising employment of eDiscovery solutions in topmost and government agencies for the investigation process is likely to boost eDiscovery market growth. Additionally, increasing danger mitigation activities in organizations, growing acceptance of predictive coding, need for proactive solutions, upsurge in litigation, and development of record management everywhere different trades are a number of the main reasons acting as a catalyst for the eDiscovery market. 

Furthermore to the present, robust development in the smartphone market and increasing employment use of social media networking platforms like LinkedIn, Instagram, and Facebook is likely to boost the event of the eDiscovery market within the coming years. On the opposite hand, the high price of eDiscovery and unfavorable government rules are likely to hinder the event of the eDiscovery market to a point. However, some government policies also support the eDiscovery process and boost the eDiscovery market. as an example, in August 2022, the Texas Supreme Court set a structure for requesting access to Electronically Stored Information like comments and tracked changes in PowerPoint notes, Microsoft Word documents, and other dynamic information, boosting the eDiscovery market.

Request Free Sample

Growth Factors

The key factors that are anticipated to drive the expansion of the market are specializing in proactive governance with data analytics and therefore the emergence of latest content sources, growth within the number of litigations across the world, increase in ESI & social media penetration, and ranging structure of regulatory policies. Still, growing chances of cyberattacks and data theft actions during the COVID-19 pandemic and therefore the lack of a talented professional workforce are expected to limit the market growth. Aside from the market, there are a couple of lucrative opportunities for eDiscovery solution providers. The emergence of AI-based analytics for eDiscovery and increased demand for analytical coding to streamline and curtail the document evaluation process are a numeral of the opportunities for the vendors within the eDiscovery market. These prospects are anticipated to present new market growth avenues for eDiscovery vendors.

Global eDiscovery Market: Report Scope

Component Segment Analysis Preview  

The GDPR and therefore the US privacy laws and alongside the increasing amount of knowledge generation has have resulted in increased pressure on organizations to adopt eDiscovery solutions. Also, the threat of lawsuits for eDiscovery flaws is encouraging organizations to adopt eDiscovery solutions. Advanced analytical capabilities in eDiscovery solutions are offering customers improved and relevant insights from data, especially during the first case assessment phase.

Furthermore, to deal with the prevailing systems, eDiscovery vendors are offering solutions with the potential to integrate with a spread of systems and fit any IT environment, thus making it faster, easier and cost-effective to put in and use eDiscovery solutions. The solutions allow easy and efficient implementation of the Electronic Discovery Reference Model that has preservation, identification, collection, processing, review, production, and demonstration of the related data throughout legal cases ensuing in reduced costs, costs, and manual intervention.

Request Free Sample

End-User Segment Analysis Preview  

Especially large initiatives have an outsized corporate network and lots of revenue streams. Hence, there's a huge amount of knowledge generated by them. Large enterprises are keen to take a position in the latest technologies to efficiently run their businesses. The eDiscovery market structures a stronghold in large enterprises because the process of litigations becomes more complex in large enterprises as compared to SMEs. 

The prevailing system integration with advanced eDiscovery solutions may be a challenge faced by large and medium enterprises, which now are often easily resolved thanks to the robust integration, training, & support services provided by eDiscovery vendors. These enterprises like better to implement solutions and their associated services on-premises. This deployment type can assist them in increasing their profits and maintaining data confidentiality.

Regional Segment Analysis Preview  

Globally, North America rules the worldwide eDiscovery market. It's likely to retain its supremacy within the future on the rear of got to improve information governance in corporations of all sizes and elevating employment of eDiscovery solutions in civil litigations. On the opposite hand, the Asia Pacific area is probably going to witness the rapid development of the eDiscovery market within the coming years. the event of the eDiscovery market in the Asia Pacific is going to be majorly originating from India, China, Japan, and South Korea.

Request Free Sample

Key Market Players & Competitive Landscape

The key players profiled in the report 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, amongst others.

The global EDiscovery Market is segmented as follows:

By Component

• Software
  • On-premise software
  • Off-premise software
• Services

By End-User

• Government and Regulatory Agencies
• Enterprises (Small, Mid and Large-Sized)
• Law Firms

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa