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Report Scope & Overview:

The E-Discovery Market size was valued at USD 11.23 Bn in 2022 and is expected to reach USD 22.57 Bn by 2030, and grow at a CAGR of 9.11% over the forecast period 2023-2030.

Electronic discovery, also known as eDiscovery, is an electronic process in which data/information is located, gathered, and created with the intention of using it as evidence in a court dispute. Digital material is highly suited to the inquiry since it can be searched effectively electronically, whereas traditional papers must be examined manually. Three types of suppliers serve the eDiscovery market: service providers, software vendors, and legal firms. Government agencies, companies (IT and legal teams), and regulators are the ultimate purchasers of eDiscovery solutions. Furthermore, legal firms and service providers provide services while also being software customers. Software suppliers cater to both service providers and purchasers of eDiscovery solutions.

E-discovery Market Revenue Analysis

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The eDiscovery market aids in the reduction of complicated legal issues and the reduction of document review time. The eDiscovery process is primarily IT-centric, necessitating the identification, preservation, and collection of enormous volumes of structured and unstructured material in order for it to be sent in a compliant way to the other party for processing, review, and analysis. Clearly, eDiscovery demands a considerable quantity of storage capacity. eDiscovery needs extensive computational resources when advanced data review and analytics tools are employed to automatically extract legal insights from the ESI corpus.

In June 2022, TCDI, a major provider of legal services, software, and cybersecurity, said today that it has signed a formal deal to purchase Aon's eDiscovery practice. TCDI's existing eDiscovery products will be strengthened by the purchase, which will add expanded advising services such as information governance to its complete legal solutions. The acquisition will expand the TCDI technology package by including Aon's NOMAD mobile processing platform, PHI/PII detection, and post-data-breach support capabilities.

MARKET DYNAMICS:

KEY DRIVERS:

  • Preservation of metadata from electronic documents.      

  • Focus on Proactive Governance with Data Analytics and the Emergence of new content sources.       

  • A higher number of litigations across the globe.               

  • Varying structure of regulatory policies.

RESTRAINTS:

  • The probability of cyberattacks and data theft increases.

  • a scarcity of competent professional workers.

OPPORTUNITY:

  • The usage of smart devices and cloud-based services is increasing.

  • AI-powered analytics and predictive coding for eDiscovery.

CHALLENGES:

  • Departmental and cross-departmental collaboration

  • High initial investment, installation, and maintenance expenses

  • Increased data quantities, as well as privacy and security concerns

IMPACT OF COVID-19:

The breakout of covid 19 in early 2020 has altered global economic and corporate situations. E-discovery specialists are focused on making judgments to assist the processing, gathering, and evaluation of ESI while also considering business modifications. The most common subject of conversation is among legal, business, and IT experts in e-discovery solutions who execute and organize the work of data collection during this epidemic. The adoption of the WFH/Remote Work paradigm is also likely to be driven by an increase in demand for cloud-based business continuity products and services, including productivity suites, collaboration tools, MDM, cloud-based contact centers, and BI and analytics. By enforcing lockdown and social distance norms, digitization has stepped in to bridge the gaps.

MARKET ESTIMATION:

The market is divided into two components: services and software. The software portion of the eDiscovery industry is the fastest growing. The eDiscovery software allows for the simple and efficient implementation of the Electronic Discovery Reference Model (EDRM) model, which includes the identification, preservation, collection, processing, review, production, and presentation of relevant data during legal proceedings, resulting in reduced time, costs, and manual intervention.

Several companies in the market provide comprehensive GRC solutions that allow firms to swiftly react to changing regulatory, economic, and technological situations. These solutions assist key decision-makers and executives by providing important information needed to strike a balance between risk management, cost optimization, and innovation capability. Wide corporations have a large corporate network and several income streams. Small and medium-sized businesses (SMEs) are rapidly embracing eDiscovery solutions to improve their governance, risk, and compliance processes. Vendors in the industry have been rolling out eDiscovery solutions with the purpose of catering to SMEs in order to assist SMEs to achieve various regulatory requirements. Small and medium-sized enterprises (SMEs) are also under pressure to improve openness, visibility, and accountability in their business processes, which is enhancing their effectiveness of corporate governance.

The market is segmented into Healthcare and Life Sciences, Legal, Manufacturing, and Others. Due to the proliferation of data in different formats such as emails, applications, websites, videos, audios, and others, the market for forensic data gathering is predicted to develop at the fastest CAGR over the forecast period. The forensic data collection procedure entails gathering electronically stored information (ESI) from multiple data sources and transferring it to different data hosts and storage media. As a result, the forensic data collecting procedure will help to drive the total growth of the eDiscovery industry.

KEY MARKET SEGMENTS:

On The Basis of Component

  • Software

  • Services

On The Basis of Organization Size

  • Large Enterprises

  • SMEs

On The Basis of Deployment mode

  • On-premises

  • Cloud

On The Basis of Vertical

  • Government & Public Sector

  • Legal

  • Banking, Financial Services, and Insurance

  • Energy & Utilities

  • Healthcare & Life Sciences

  • Retail & Consumer Goods

  • Manufacturing

  • IT & Telecommunications

  • Other

E-discovery Market Segmentation Analysis

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REGIONAL ANALYSIS:

According to e-discovery research studies, the worldwide e-discovery market is divided into four regions: Asia Pacific, North America, Europe, and the rest of the world. Because of the widespread use of cloud solutions in Canada and the United States, the North American region is expected to account for the largest e-discovery market share. Because of rising crime rates, industrialization, and vast IT infrastructure in developing nations like as India and China, the Asia Pacific area is anticipated to have significant growth with the greatest CAGR.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key player are IBM Corporation, Opentext, Microsoft Corporation, Micro Focus, Deloitte, Nuix, Exterro, KLDiscovery, Thomson Reuters, Knovos, and Guidance Software Inc. & Other Players

Opentext -Company Financial Analysis

E-discovery Market Report Scope:
Report Attributes Details
 Market Size in 2022  US$ 11.23 Bn
 Market Size by 2030  US$ 22.57 Bn
 CAGR   CAGR of 9.11% From 2023 to 2030
 Base Year  2022
 Forecast Period  2023-2030
 Historical Data  2020-2021
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Component (Software and Services)
• By Organization Size (Large Enterprise and SMEs)
• By Deployment Mode (On-premises and Cloud)
• By Vertical (Government & Public Sector, Legal, BFSI, Energy & Utilities, Healthcare & Life Sciences, Retail & Consumer Goods, Manufacturing, IT & Telecommunication, Other)
 Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
 Company Profiles IBM Corporation, Opentext, Microsoft Corporation, Micro Focus, Deloitte, Nuix, Exterro, KLDiscovery, Thomson Reuters, Knovos, and Guidance Software Inc.
 Key Drivers • Preservation of metadata from electronic documents
• A higher number of litigations across the globe
 Market Challenges • Departmental and cross-departmental collaboration
• High initial investment, installation, and maintenance expenses

 

Frequently Asked Questions

Ans: - The E-discovery Market size is to reach USD 22.57 Bn by 2030.

Ans: - Departmental and cross-departmental collaboration and the high initial investment, installation, and maintenance expenses.

Ans: - The North American region is expected to account for the largest e-discovery market share.

Ans: - The major key players are IBM Corporation, Opentext, Microsoft Corporation, Micro Focus, Deloitte, Nuix, Exterro, KLDiscovery, Thomson Reuters, Knovos, and Guidance Software Inc.

Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. E-discovery Market Segmentation, by Component

8.1 Software

8.2 Services

 

9. E-discovery Market Segmentation, by Organization Size

9.1 Large Enterprises

9.2 SMEs

10. E-discovery Market Segmentation, by Deployment mode

10.1 On-premises

10.2 Cloud

11. E-discovery Market Segmentation, by of Vertical

11.1 Government & Public Sector

11.2 Legal

11.3 Banking, Financial Services, and Insurance

11.4 Energy & Utilities

11.5 Healthcare & Life Sciences

11.6 Retail & Consumer Goods

11.7 Manufacturing

11.8 IT & Telecommunications

11.9 Other

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

13. Company Profiles

13.1 IBM Corporation

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Opentext

13.3 Microsoft Corporation

13.4 Micro Focus

13.5 Deloitte

13.6 Nuix

13.7 Exterro

13.8 KLDiscovery

13.9 Thomson Reuters

13.10 Guidance Software Inc.

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

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Data Bank Validation

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