What Will eDiscovery Market Be Like In The Next Upcoming Years
According to a new market report published by Credence Research, Inc. “eDiscovery Market By Type (Software, Service), By Software (On-premise, Cloud-based), By Service (Consulting, Implementation & Integration, Outsourcing, Support), By End-User (Government Agency, Enterprise (Large Enterprise, Mid- and Small-sized Enterprise), Law Firm) – Growth, Share, Opportunities & Competitive Analysis, 2016 -2023”, the global eDiscovery market is expected to witness a steady growth, expanding at a CAGR of over 13% from 2016 to 2023.
Growing volume of digital data across enterprises and government agencies and introduction of government initiatives and support to implement eDiscovery process in large-, small- and mid-sized enterprises is driving growth of the eDiscovery market worldwide. However, high cost associated with deployment of eDiscovery process is hindering growth of the market, especially in developing regions such as Africa and Latin America.
The global eDiscovery market is consolidated in nature, with top players constituting more than 40% market share of the overall market revenue. Currently, HP Autonomy, IBM Corporation, FTI Consulting and Guidance Software Inc. are the leading players in the global eDiscovery market. These players follow the strategy of acquiring small vendors to enter regional market and enhance market footprint. Also, major players are focusing on introducing cloud-based eDiscovery solutions to meet increasing customer demand. The prominent players operating in the global eDiscovery market are HP Autonomy, IBM Corporation, Daegis Inc., EMC Corporation, Epiq System Inc., Symantec Corporation, Guidance Software, Inc., FTI Consulting, Inc., Catalyst Repository Systems, Inc. and Integreon Managed Solution Inc.
- Growing adoption of cloud-based eDiscovery solution across end-user organizations
- Prominent players are focused towards acquiring small vendors
- Introduction of mobile based eDiscovery solutions and services
On the basis of geography, the global eDiscovery market is segmented into following regions and countries.
- North America
Rest of Europe
- Asia Pacific
Rest of Asia Pacific
- Rest of the World
Middle East and Africa