eDiscovery Global Market Report 2024

eDiscovery refers to services used for obtaining and exchanging electronic data that is sought, located, secured, and searched by organizations in the initial phases of litigation. They are used when involved parties are required to provide relevant records and evidence related to a case. Electronic discovery, also referred to as electronic discovery process of obtaining and exchanging evidence in a legal case or investigation.

The main types of e-discovery market components are solutions and services. Solutions are used to facilitate and automate the process of eDiscovery, which includes identifying, collecting, preserving, processing, reviewing, and analyzing digital data that supports the legal discovery process. A solution as a component refers to an action or process of solving a problem. They are used by large enterprises and small and medium enterprises. The various deployment types are on-premises, cloud-based, and hybrid. The various end users are BFSI, retail sector, healthcare, manufacturing, IT and telecommunication, the government, energy and utility, and others end users.

The eDiscovery market research report is one of a series of new reports that provides eDiscovery market statistics, including eDiscovery industry global market size, regional shares, competitors with a eDiscovery market share, detailed eDiscovery market segments, market trends and opportunities, and any further data you may need to thrive in the eDiscovery industry. This eDiscovery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ediscovery market size has grown strongly in recent years. It will grow from $13.53 billion in 2023 to $14.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increased volume of electronic data, continued growth in cybersecurity threats and incidents, rise in legal and regulatory investigations, growing number of litigations, need for efficient and cost-effective ediscovery solutions.

The ediscovery market size is expected to see strong growth in the next few years. It will grow to $20.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to growing need for data privacy and security, increasing use of blockchain technology, growing demand for ediscovery services in emerging economies, globalization and cross-border data discovery challenges, increasing complexity of data sources and types. Major trends in the forecast period include adoption of technology-assisted review (tar) in ediscovery, integration of analytics and predictive coding in ediscovery, emphasis on data privacy and protection, rise of remote and mobile ediscovery solutions, evolution of technology-driven ediscovery workflows.

The increase in amount of electronically stored information is expected to drive the demand for the eDiscovery market going forward. Data that is generated, updated, sent, and stored digitally is referred to as electronically stored information (ESI). In the recent past, growing digitization has seen an explosion in electronically stored information. The amount, formats, and sources of electronically stored information that needs to be recorded are becoming more diverse. eDiscovery tools are used to perform digital investigation tasks for electronically stored data. Also, it helps in exchanging evidence in a legal case or investigation directly through the database. For instance, according to Forbes, a US-based business magazine, in 2020 the amount of data created, captured, copied, and consumed in the world has reached 59 trillion gigabytes. Furthermore, according to data by Logikcull, a US-based company offering legal the ediscovery software solution, 2.5 exabytes of data are created every day. Therefore, the increasing amount of electronically stored information is driving the growth of the eDiscovery market.

The increasing risks of cyberattacks are expected to propel the growth of the e-discovery market going forward. A cyberattack refers to any attempt to gain access to a computer, computing system, or network in order to cause harm. Phishing is a form of cybersecurity attack in which individuals are deceived into installing malicious software, divulging personal information, and thereby jeopardizing their own security or that of their organizations. E-discovery can be utilized in cyberattacks to uncover digital evidence and legal insights, aiding both attackers and defenders in navigating the legal landscape of cybercrimes. For instance, in June 2022, according to the Anti-Phishing Working Group, a US-based independent counter eCrime association, in the first quarter of 2022, the APWG recorded a total of 1,025,968 phishing attacks, a 15% rise from the fourth quarter of 2021, when 888,585 attacks were reported. Therefore, the increasing risks of cyberattacks are driving the growth of the e-discovery market.

Technological advancement is a key trend gaining popularity in the eDiscovery market. Major market players are focusing on the implementation of advanced technologies that work on cloud-based technology to strengthen their position in the market. For Instance, in March 2022, Epic systems Inc., a US-based software solutions company, launched the Epiq Service Cloud to Empower Legal Service Delivery Excellence for Corporate Legal Departments and Law Firms. A collection of intelligence and productivity tools may be found in the Epiq Service Cloud. With the help of cloud technology services that help to provide a centralized digital experience for Epiq’s proprietary technology and other third-party industry tools.

Major companies operating in the eDiscovery market are focused on enhancing the customer experience to gain a competitive edge in the market. Cloud-based services offer eDiscovery companies scalable, cost-effective solutions for securely storing, managing, and analyzing vast amounts of legal data, streamlining the discovery process, and ensuring compliance. For instance, in February 2023, Casepoint LLC, a US-based technology company, announced the launch of its legal hold and eDiscovery software solutions in Canada. The decision to enter the Canadian market stems from the growing need for reliable cloud-based legal discovery technology to support litigation, investigations, and compliance. This strategic move also fulfills data residency obligations for entities operating in Canada. Canadian businesses, government bodies, and legal firms will now have the opportunity to utilize Casepoint's Legal Hold and eDiscovery software solutions within the country.

In August 2021, Cloudnin, a US-based software company, acquired the ESI analyst for an undisclosed amount. With this acquisition, CloudNine plans to combine its e-discovery platform with ESI Analyst's capabilities to allow customers to upload and analyze data from a single, integrated platform for law firms, corporate legal departments, legal service providers, and governmental organizations. ESI analyst, a US-based software developing company that offers eDiscovery investigation tools.

Major companies operating in the in the ediscovery market report are Casepoint LLC, CloudNine Discovery Services Inc., Commvault Systems Inc., Conduent Incorporated, Conduent Inc., International Business Machines Corporation, Microsoft Corporation, KLDiscovery Inc., Deloitte Touche Tohmatsu Limited, Epiq Systems LLC, Exterro Inc., FTI Consulting Inc., Open Text Corporation., Zapproved Inc., Logikcull Inc., Everlaw Inc., Veritas Technologies LLC, ZyLAB Technologies LLC, Mimecast Ltd., Proofpoint Inc., Gen Digital Inc., Consilio LLC, ONE Discovery, Absolute Software Corporation, Dun & Bradstreet Inc., Informatica Inc., SAS Institute Inc., Broadcom Inc., Amazon Web Services Inc., OneTrust LLC, TrustArc Inc., Iron Mountain Incorporated, Hindustan Computers Limited Technologies, Micro Focus International plc

North America was the largest region in the ediscovery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ediscovery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the ediscovery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The eDiscovery market includes revenues earned by entities by providing services such as emails, documents CAD/CAM files, databases, image files, instant messaging chats from Slack. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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