MarketResearchNest Reports adds “Global EDiscovery Market Growth (Status and Outlook) 2019-2024”new report to its research database. The report spread across 156 pages with multiple tables and figures in it.
This comprehensive EDiscovery Market research report includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.
Electronic discovery (sometimes known as e-discovery, ediscovery, eDiscovery, or e-Discovery) is the electronic aspect of identifying, collecting and producing electronically stored information (ESI) in response to a request for production in a law suit or investigation.
The growth of the eDiscovery technologies market is also driven by factors, such as an increasing litigation in the Attorneys and Legal Supervisor and enterprise industry. However, factors such as high investment andinstallation cost are hindering the growth of this market.
E-discovery is becoming an increasingly important consideration for almost all organizations as a result of the enormous number of civil cases filed each year, the growing proportion of business records that are stored electronically, new statutes at all levels of government focused on electronically-stored information, and a growing body of court rulings that are making the discovery and presentation of electronic data more important.
In order to satisfy e-discovery obligations, organizations should be fully aware of their current and reasonably anticipated information retention obligations, become much more proactive about how they retain and manage data, implement appropriate technology that can archive data and allow legal holds to be implemented easily, and take the other steps necessary to minimize the risks of non-compliance with e-discovery obligations.
Increased litigation and regulation coupled with expanding use cases for eDiscovery software will continue to drive moderate growth in the worldwide eDiscovery market. The data solution market, however, is maturing rapidly as buyers search for automation to solve well-defined problems. To meet maturing needs, eDiscovery Solution and service providers are already creating robust strategies to use existing search and analytics competencies to compete in the white hot content analytics and cognitive solution markets.
According to this study, over the next five years the eDiscovery market will register a 11.0% CAGR in terms of revenue, the global market size will reach US$ 27200 million by 2024, from US$ 14500 million in 2019.
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This report also splits the market by region:
Americas, United States, Canada, Mexico, Brazil, APAC, China, Japan, Korea, Southeast Asia, India, Australia, Europe, Germany, France, UK, Italy, Russia, Spain, Middle East and Africa, Egypt, South Africa, Israel, Turkey, GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report
Xerox Legal Business Services
Segmentation by product type:
Forensic Data Collection
Legal Hold Management
Segmentation by application:
Attorneys and Legal Supervisors
Government and Regulatory Agencies
Legal and IT Departments of Enterprises
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- To study and analyze the global EDiscovery market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
- To understand the structure of EDiscovery market by identifying its various subsegments.
- Focuses on the key global EDiscovery players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the EDiscovery with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the size of EDiscovery submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
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Mr. Jeet Jain