The global eDiscovery market was valued at $10 billion in 2021, and is projected to reach $25 billion by 2031, registering a CAGR of 9% from 2022 to 2031.
The eDiscovery market share is predicted to expand significantly during the forecast period due to increased Metadata protection. Furthermore, increase in usage of digitalization and artificial intelligence (AI) fuels the expansion of the market. However, high initial cost of installation and administration is the key factor constraining market expansion. On the contrary, increased market penetration across different end-use verticals is expected to propel eDiscovery market growth.
The global eDiscovery market is segmented into offering, organization size, use case, end use vertical and regions. On the basis of offering, the market is bifurcated into solutions and services. The solutions segment is further segmented into the market forensics & collections, processing & hosting, data analytics, document review, contract solutions, business advisory solutions, spend management solutions and others. In terms of services the market is divided into document processing & administrative support, shared services, contact center services and others.
On the basis of organization size, it is divided into large enterprises and small & medium-sized enterprises (SMEs). On the basis of use case the market is segmented into investigation, litigation & legal operations, early case assessment and others. On the basis of end use vertical, the market is categorized into government & public sector, legal, banking, financial services, and insurance, media & entertainment, healthcare & life sciences, retail & consumer goods, IT & telecommunications and others. Region-wise, the eDiscovery market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include CloudNine, CS DISCO Inc., Deloitte Touché Tohmatsu Limited, International Business Machines Corporation, KLDiscovery Limited, Lighthouse eDiscovery Inc., Microsoft Corporation, Nuix Limited, Onna Technologies Inc. and ZyLAB Technologies.
The eDiscovery market share is predicted to expand significantly during the forecast period due to increased Metadata protection. Furthermore, increase in usage of digitalization and artificial intelligence (AI) fuels the expansion of the market. However, high initial cost of installation and administration is the key factor constraining market expansion. On the contrary, increased market penetration across different end-use verticals is expected to propel eDiscovery market growth.
The global eDiscovery market is segmented into offering, organization size, use case, end use vertical and regions. On the basis of offering, the market is bifurcated into solutions and services. The solutions segment is further segmented into the market forensics & collections, processing & hosting, data analytics, document review, contract solutions, business advisory solutions, spend management solutions and others. In terms of services the market is divided into document processing & administrative support, shared services, contact center services and others.
On the basis of organization size, it is divided into large enterprises and small & medium-sized enterprises (SMEs). On the basis of use case the market is segmented into investigation, litigation & legal operations, early case assessment and others. On the basis of end use vertical, the market is categorized into government & public sector, legal, banking, financial services, and insurance, media & entertainment, healthcare & life sciences, retail & consumer goods, IT & telecommunications and others. Region-wise, the eDiscovery market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the market include CloudNine, CS DISCO Inc., Deloitte Touché Tohmatsu Limited, International Business Machines Corporation, KLDiscovery Limited, Lighthouse eDiscovery Inc., Microsoft Corporation, Nuix Limited, Onna Technologies Inc. and ZyLAB Technologies.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global ediscovery market analysis from 2021 to 2031 to identify the prevailing global ediscovery market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global ediscovery market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global global ediscovery market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Offerings
- Solutions
- Solutions
- Forensics and Collections
- Processing and Hosting
- Data Analytics
- Document Review
- Contract Solutions
- Business Advisory Solutions
- Spend Management Solutions
- Others
- Services
- Services
- Document Processing and Administrative Support
- Shared Services
- Trustee Services
- Contact Centre Services
- Others
By Organization Size
- Large Enterprise
- SMEs
By Use Cases
- Investigation
- Litigation and Legal Operations
- Early Case Assessment
- Others
By End Use Vertical
- Government and Public Sector
- Legal
- BFSI
- Media and Entertainment
- Healthcare and Life Sciences
- Retail and Consumer Goods
- IT and Telecommunications
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Deloitte Touche Tohmatsu Limited
- Onna Technologies Inc.
- Nuix Limited
- Lighthouse eDiscovery Inc.
- KLDiscovery Limited
- ZyLAB Technologies
- Microsoft Corporation
- Cloudnine Hospitals Pvt Ltd.
- International Business Machines Corporation
- CS DISCO Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GLOBAL EDISCOVERY MARKET, BY OFFERINGS
CHAPTER 5: GLOBAL EDISCOVERY MARKET, BY ORGANIZATION SIZE
CHAPTER 6: GLOBAL EDISCOVERY MARKET, BY USE CASES
CHAPTER 7: GLOBAL EDISCOVERY MARKET, BY END USE VERTICAL
CHAPTER 8: GLOBAL EDISCOVERY MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the global ediscovery market size was valued at $10.9 billion in 2021, and is estimated to reach $25.2 billion by 2031, growing at a CAGR of 8.9% from 2022 to 2031.Electronic discovery (often referred to as e-discovery or eDiscovery) is the discovering of material in digital form during legal procedures such as litigation, government investigations, or information rights requests as electronically stored information (ESI). Electronic discovery is governed by civil procedure standards and agreed-upon methods, which frequently include a review for privilege and significance before data is given over to the seeking side of a lawsuit.
Increasingly stringent monitoring, cross-border privacy legislation, and sophisticated benchmark datasets have contributed to the expansion of the scope and size of eDiscovery techniques. Software-as-a-service (SaaS) and artificial intelligence (AI) have transformed eDiscovery practices, to become cost effective as it helps companies reduce their overall operating expenses. Modern eDiscovery software market has evolved into a critical tool for the company's operations.
Significant factors that impact the growth of the global eDiscovery industry include increase in protection of Metadata, rise in adoption of digitalization, and dependency on artificial intelligence (AI). However, high initial cost of installation and maintenance hampers the growth of the market. On the contrary, surge in market penetration in various end-use verticals is expected to offer potential growth opportunity for the eDiscovery market during the forecast period.
According to eDiscovery market research, the solutions segment was the highest revenue contributor to the market, is expected to remain dominate during the forecast period. Rise in adoption of cellphone-based data analytics technology have led to increase growth of services segment.
IT and telecom operational units are huge private and commercial data servers. These data centres have vital information from various individual, commercial, and government sectors, which with the help of eDiscovery is transformed into legitimate evidence during the course of legal actions. Therefore, IT & telecommunication data storage & operation units demand enhanced eDiscovery solution that provide elevated digital forensics, AI data analytics review, legal advisory solutions and spend management solutions. eDiscovery services supervise in constructive effective clauses and laws for maintenances of resources, enhancing digital data security, reducing hardware and manual data collection costs. Therefore, eDiscovery service market aids the operational efficiency for various end-users.
On the basis of organization size, the large enterprise segment held the largest market share in 2021, accounting for nearly three-fourths of the global eDiscovery market share, and is expected to maintain its leadership status during the forecast period. Furthermore, the same segment, is expected to cite the highest CAGR of 9.2% during the forecast period.
The outbreak of the COVID-19 has significantly impacted the eDiscovery solution market growth. Rise in demand for digital evidence across various sectors has significantly propelled the growth of the eDiscovery service market during the pandemic. However, the emergence of third wave of COVID-19 across the U.S. and UK is anticipated to affect the growth of eDiscovery market in 2022. Moreover, the BFSI sector globally started to deploy eDiscovery solution, and thus is expected to drive the eDiscovery market growth post pandemic.
eDiscovery solutions help to automate and enhance the electronic discovery process. This process includes various eDiscovery solution such as forensics & collections, processing & hosting, data analytics, document review, contract solutions, business advisory solutions, spend management solutions and others. These solutions help attorneys the extract the valuable data, concerned to lawsuit and eliminate the manual process. Therefore, eDiscovery solutions assist the legal analysis to speed up the procedure well as lessen the jeopardies in the process of valuable data extraction concerned to the legal proceedings. Therefore, aforementioned factor have led to increasing adoption of eDiscovery solution market during the forecast period.
Region-wise, North America holds a significant share in the global eDiscovery industry, owing to the presence of prime players in this region. The adoption of forensics & collections and data analysis is expected to propel the growth of the eDiscovery industry in this region. Moreover, surge in awareness of investigation, litigation & legal operations and freedom of the information act (FOIA) eDiscovery use case request in North America are anticipated to drive the eDiscovery market trends in this region.
KEY FINDINGS OF THE STUDY
On the basis of offering, the solutions segment was the highest revenue contributor to the market, and is estimated grow with impressive CAGR.Investigation and litigation & legal operation use case are widely being applied in various government and corporate legal proceedings.
On the basis of region, North America is expected to prevail its dominance during the forecast period.
The report provides a quantitative analysis on the global competitive landscape.
The key players profiled in the report include CloudNine, CS DISCO Inc., Deloitte Touché Tohmatsu Limited, International Business Machines Corporation, KLDiscovery Limited, Lighthouse eDiscovery Inc., Microsoft Corporation, Nuix Limited, Onna Technologies Inc. and ZyLAB Technologies. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the eDiscovery market.
Companies Mentioned
- Deloitte Touche Tohmatsu Limited
- Onna Technologies Inc.
- Nuix Limited
- Lighthouse eDiscovery Inc.
- KLDiscovery Limited
- ZyLAB Technologies
- Microsoft Corporation
- Cloudnine Hospitals Pvt Ltd.
- International Business Machines Corporation
- CS DISCO Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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