San Francisco, California, December 11, 2017: According to a report published by TMR Research, the e-discovery solution and services market is flourishing on account of the rising demand from organizations as these services and solutions help facilitate business procedures with effectiveness. The report is titled “eDiscovery Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” Users can review, exchange, collect, and preserve data or information which is stored in electronic format through e-discovery solution and services. E-discovery solutions are used across manufacturing, media and entertainment, retail, education, logistics and transportation, hospitality and travel, IT and telecom, energy and utilities, BFSI, legal, financial services, banking.
The growing usage of mobile devices, increasing litigations, stringent compliance with policies and regulations, and decreasing operational budget of legal departments will drive the global eDiscovery market. With increasing spread of digitization cloud deployment model is being adopted by organizations across the globe for better performance of eDiscovery solutions. One of the key trends within the market is the use of eDiscovery solutions conducting investigations by various government agencies. Using ESI as evidence has become mandatory on account of the global rise in litigations. This will drive the global eDiscovery market as organizations are using eDiscovery processes as risk mitigation strategies. The humongous amount of data generated by enterprises across the globe has propelled the demand for eDiscovery platforms and services.
While the high cost of eDiscovery services is anticipated to restrict the growth of the market to a certain extent, the increasing popularity of cost effective on premise service will act as a growth driver. Extensive use of social media tools including Facebook, LinkedIn, Twitter by numerous organizations create various growth opportunities for market players.
On the basis of geography, North America is anticipated to be a prominent regional market for eDiscovery solutions and platforms. The North American eDiscovery market is growing on account of stringent compliances among enterprises for preserving data. The growing adoption of eDiscovery solutions by various government agencies in North America will also aid the growth of this market. Law enforcement agencies are emphasizing increasingly to make lawyers and attorneys familiar with ESI in the US. This will further the demand for eDiscovery offerings. Various intuitive and interactive solutions have been launched across cloud models which will also accelerate the growth of the North American eDiscovery market. Asia Pacific will also emerge as a lucrative market for eDiscovery on account of fast paced industrialization and increased use of mobile devices by enterprises which will create a heightened need for managing ESI, thereby bolstering the demand for e-discovery solutions.
Players within the global e-Discovery market are extensively focusing on participating in mergers and acquisitions of partnerships so as to strengthen the footprint in this competitive market. The report profiles leading players within the market for the purpose of study. They are: HP Autonomy, IBM Corporation, Daegis, Inc., EMC Corporation, Symantec Corporation, Guidance Software, Inc., Epiq Systems, Inc., Catalyst Repository Systems, Inc., Integreon Managed Solutions, Inc., and FTI Consulting, Inc.
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