News:Global eDiscovery Market is estimated to reach USD 20.9 Billion by 2025
eDiscovery Market: Summary
The Global eDiscovery Market is estimated to reach USD 20.9 Billion by 2025 at a CAGR of 11.8%, says forencis research (FSR).
Electronic discovery is a software which reviews electronic documents and information to exploit these data in civil or criminal cases. The term mainly focuses on the exchange of data in ESI (or electronically stored information). ESI includes email, databases, audio, social media, e-mail, websites, and video files. Moreover, it reduces discovery related costs, boosts the accuracy and identifies relevant documents. Furthermore, law firms and corporate departments are this software to review individual documents, searching the information and collect the files.
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eDiscovery Market: Drivers & Restraints
Growing Demand for Digitalization
Increasing demand for digitalization services improves the opportunities for increased efficiency and security. The improved systems and technologies would lead to the rising demand for handling digital data more efficiently for the faster availability of relevant information and data during legal cases. However, digital data on electronic platform like email, hard disks, USB storage, social media file shares, cloud storage, Microsoft SharePoint 365 and management system. According to Hence, the growing demand for digitalization is expected to surge the eDiscovery market during the forecast period.
Rising Demand for Litigation Technology
The market demand for eDiscovery is growing owing demand for litigation technology. It helps to improve reviewing, collecting, preserving digital information, and sharing the information related to the production of electronic documents. Moreover, used for to manage large volumes of data and information obtained from different sources. According to Exterro, more than half of law firms (51%) are now moving litigation services in-house to manage their work more efficiently. Therefore, the Rising Demand for Litigation Technology is expected to drive the eDiscovery market during the forecast period.
Increasing Cost of eDiscovery Platforms
High cost for the initial installation associated with e-Discovery market is hampering the targeted market group. However, expanding the scope of unique data like collected, processed, reviewed, identified, preserved, and produced may lead to increase in the cost of the market. Hence, Increasing Cost of eDiscovery Platforms market may hinder the growth of eDiscovery
eDiscovery Market: Key Segments
· Based on Deployment Mode: Cloud, On-premises, and Hybrid
· Based on Component: Software, Services, and Solution
· On Based of End-User: Government, Banking, Financial Services, and Insurance, Healthcare, Manufacturing, IT and Telecommunications, Energy and Others
· Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
eDiscovery Market: Report Scope
The report on the eDiscovery market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Key Companies Covered
· IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
· Open Text Corporation
· Microsoft Corporation
· Micro Focus
· Catalyst Repository Systems
· FRONTEO Inc
· Thomson Reuters Corporation
· Other Key Companies
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eDiscovery Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
eDISCOVERY Market, by Deployment Mode
eDISCOVERY Market, by Component
o Consulting services
o Collection services
o Document review services
o Digital forensic investigations
o Data Protection
o Legal Hold
o Data Collection
eDISCOVERY Market, by End-User
· Banking, Financial Services, and Insurance (BFSI)
· IT and Telecommunication
eDISCOVERY Market, by Region
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Rest of South America
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Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
- eDiscovery Market Providers
- eDiscovery Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of eDiscovery Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
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About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.
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