Global eDiscovery market to reach USD 18,496.60 million by 2021, growing at a CAGR of 15.69% between 2016 and 2021.
The report covers forecast and analysis for the eDiscovery market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on revenue (USD Million). The study includes drivers and restraints for the eDiscovery market together with the impact they have on the demand over the forecast period. In addition, the report includes the study of opportunities available within the eDiscovery market on a global level.
In order to offer the users of this report comprehensives read on the eDiscovery market, we have included the competitive landscape of the market and Porter’s Five Forces analysis for the eDiscovery market. The study encompasses a market attractiveness analysis, wherein components, end-user and regional segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view on the eDiscovery market by segmenting the market based on components, end-users, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021. Key components covered under this study include software (on-premise software and off-premise software) and services. Key end-users segments covered under this study include government and regulatory agencies, enterprises (small, mid and large-sized), law firms. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
The key players profiled in the report includes 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.
eDiscovery Market: Component Segment Analysis
eDiscovery Market: End-users Segment Analysis
eDiscovery Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global eDiscovery market. Zion Research has collected and analyzed key data belong to the global eDiscovery market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of eDiscovery across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the eDiscovery industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the eDiscovery market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
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.
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, nonfavorable 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 47.56% 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 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.
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 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 global eDiscovery market in 2015. It is expected to retain its dominance during the forecast period due to increasing use of eDiscovery solutions in civil litigations and need to improve information governance in corporations of all sizes. However, the Asia-Pacific region is expected to witness the rapid growth of the eDiscovery market in the years to come. The growth of eDiscovery market in Asia Pacific will be mainly stemmed from China, India, South Korea and Japan.
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.