DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/fvqj7r/global_electronic) has announced the addition of the "Global Electronic Data Discovery Market 2012-2016" report to their offering.
One of the key factors contributing to this market growth is the increased need for regulatory compliance. The Global Electronic Data Discovery market has also been witnessing the emergence of cloud computing. However, the high cost of implementation could pose a challenge to the growth of this market.
The key vendors dominating this market space are AccessData Group LLC, Guidance Software Inc., Hewlett-Packard Co., and Symantec Corp.
The other vendors mentioned in the report are ZyLAB Inc., Recommind Inc., IBM Corp., FTI Technology, kCura Inc., Xerox Litigation Services, Catalyst Repository Systems Inc., Exterro Inc., EMC Corp., Nuix Pty Ltd., KPMG LLP, Integreon Inc., and CommVault Systems Inc.
Commenting on the report, an analyst from TechNavio's Enterprise Computing team said: ''The emergence of cloud-based solutions has enabled organizations to increase their efficiency and reduce the cost of deploying valuable IT infrastructure. However, many organizations are still analyzing the feasibility and relevance of cloud computing solutions in their IT operations. The cloud-based model for electronic data discovery (EDD) offers a pay-per-use model, which provides cost-effective access to the EDD solution at any time and in any place by multiple users. Although many enterprises have an increased understanding of the benefits of cloud-based EDD solutions, a number of concerns and risks, particularly in relation to data sharing and security, are affecting the adoption of such solutions. However, the Global EDD market is witnessing a trend where many vendors in the market have begun to offer their solutions through the cloud-based model to expand their services and enter new markets.''
According to the report, one of the major drivers in this market is the increased need for regulatory compliance. The fear of legal liability associated with compliance requirements is the major reason that organizations are adopting EDD solutions. There has been an explosion in the number of such regulations over the last few years and this number still continues to grow.
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