eDiscovery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

eDiscovery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global eDiscovery market size reached US$ 12.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.39% during 2023-2028.

eDiscovery refers to the process of recognizing, collecting and presenting electronically stored information (ESI) used for legal investigations. It consists of investigating emails, documents, presentations, databases, voicemails, social media data and audio and video files. It also includes raw data and metadata that forensic investigators review to trace hidden evidence. This evidence is further extracted and analyzed using various cyber-forensic procedures and converted to digital formats to be presented into the court. They aid in identifying patterns and conducting analytical research that is used for investigating legal, constitutional, political and privacy issues.

Rapid digitization, along with the increasing utilization of the Internet of Things (IoT)-enabled devices, is one of the key factors driving the growth of the market. Widespread adoption of IoT and cloud computing systems has significantly enhanced the generation of digital data, thereby increasing the demand for eDiscovery solutions for accessing and recovering traces of information. Furthermore, extensive utilization of these systems for enforcing compliance, translation and data security by various government organizations is also providing a boost to the market growth. Litigations are now primarily based on high volumes of electronic data that are retrieved using eDiscovery solutions. The enhanced focus of legal and government organizations to streamline their operations and minimize operational costs by adopting advanced technologies is positively impacting the market growth. Other factors, including an increasing amount of electronically stored information and rising instances of felonies, such as money laundering and tax fraud, are expected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global eDiscovery market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment type, end-user and vertical.

Breakup by Component:

Services
Software

Breakup by Deployment Type:

On-premises
Cloud-based
Hybrid

Breakup by End-User:

Government/Federal Agencies, Legal and Regulatory Firms
Enterprises

Breakup by Vertical:

BFSI
Retail and Consumer Goods
Manufacturing
Legal
IT and Telecommunication
Government
Energy and Utilities
Healthcare and Life Science
Others

Breakup by Region:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Accessdata Group Inc., Commvault Systems Inc., Conduent Incorporated, Driven Inc. (Xplenty), Fronteo Inc. (Formerly UBIC), FTI Consulting, International Business Machines Corporation, Logikcull, Micro Focus International Plc, Nuix Pty Ltd. (Macquarie Group), Open Text Corporation, Veritas Technologies LLC (The Carlyle Group), ZyLAB Technologies, etc.

Key Questions Answered in This Report:

What was the size of the global eDiscovery market in 2022?
What is the expected growth rate of the global eDiscovery market during 2023-2028?
What are the key factors driving the global eDiscovery market?
What has been the impact of COVID-19 on the global eDiscovery market?
What is the breakup of the global eDiscovery market based on the component?
What is the breakup of the global eDiscovery market based on the deployment type?
What is the breakup of the global eDiscovery market based on the end user?
What is the breakup of the global eDiscovery market based on the vertical?
What are the key regions in the global eDiscovery market?
Who are the key players/companies in the global eDiscovery market?