- 10 May 2019 22:08
Growing Adoption Of E-Discovery Solutions In Civil Litigations Is Factor Expected To Drive Growth Of The E-Discovery Market
E-Discovery (also called Electronic discovery or e-discovery) refers to any process in which electronic data is sought, located, secured, and searched with the intent of using it as evidence in a civil or criminal legal case. E-Discovery can be carried out offline on a particular computer or it can be done in a network. e-Discovery is defined as a set of processes for the identification, preservation, collection, processing, review, analysis and production of electronically stored information (ESI). e-Discovery is usually done in the condition of criminal litigation procedures and for government investigations. e-Discovery documents can be produced in the form of photos, video, databases, and other file types. The key to addressing e-Discovery is to be proactive in the management of information and records with control over the handling of potential e-Discovery requests.
Global E-Discovery Market Dynamics:
A major factor driving growth of the global E-Discovery Market is increasing need for e-Discovery in various sectors and increasing adoption of advanced technologies in public/government sectors to improve internal communication systems and external reach, and rising utilization of freedom of Information Act (FOIA) in the US, coupled with exponentially increasing electronic data in this sector have resulted in need for transparency of information. This is a major factor expected to lead to increase in adoption of e-Discovery solutions among government agencies in order to cost-efficiently handle legal inquiries, seamlessly perform civil and criminal investigations, manage litigation processes, and maintain data records with improved accuracy is expected to support market growth.
Increasing applications of e-Discovery services in various industries such as BFSI, IT & telecom, energy & utilities, media & entertainment, and others is expected to create rising demand for these solutions, thereby supporting growth of the market to a significant extent.
Analysis By Segmentation:
The market report has been segmented on the basis of component type, application, and region/county. The component type segment includes software and services. The software segment is further sub-segmented into On-Premise Software and Off-Premise. The application segment corporate, education, government, and third-party planners. The regions/countries covered in the analysis includes North America, Europe, China, Japan, Southeast Asia, India, South America, Middle East & Africa, and Rest of the World.
By Component type: The software segment is expected to register highest CAGR of over 12% between 2018 and 2027
By Application: The government segment is projected register highest CAGR of over 11% over the forecast period, owing to increasing government initiatives and, especially in developed countries such as the US and the UK, is expected to create revenue opportunities for manufacturers in the future.
By Region/Country: The market in North America accounted for highest revenue share in the global e-Discovery market in 2017. The market in China is expected to register highest CAGR of over 11.5% between 2018 and 2027, owing to increasing adoption of e-Discovery solutions in civil litigations in the country.
Global E-Discovery Market: Competitive Analysis
The research report on the global e-Discovery market include profiles of some of major companies such as Logik Systems, Inc., Nextpoint, Inc., CloudNine, Elevate Services, Inc. (E-STET), Zapproved LLC., Safelink Data Rooms, Ipro Tech, LLC, Sherpa Software, OpenText Corporation, and Cicayda, LLC.
The Global E-Discovery Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017–2027 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global e-Discovery market for 2017–2027.
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