Global e-discovery Market is accounted for $8.89 million in 2016 and expected to grow at a CAGR of 25.2% to reach $42.87 million by 2023.
Increase in litigations, stringent policy and compliance regulations and increase in mobile device penetration & usage are fuelling the market growth. However, less awareness about e-discovery, increase in cross-border e-discovery, high cost associated with e-discovery solutions & services and contradiction between data protection are hampering the market growth.
Based on End User, e-discovery is widely used in Government sector. Government requests often can be extremely broad, necessitating informed negotiating strategies to limit the scope and ease the burden of e-discovery. On-site collection for physical media is optimal because it offers maximum certainty and legal defensibility, as well as minimizes participation by corporate IT team. The largest cost element in e-discovery is attorney review and selection of records for production and/or privilege.
North America is projected to dominate the market throughout the forecast period. As with the growth of big data, organizations in the US are transitioning towards mobile content delivery models and depend entirely on mobile devices to market their products.
Some of the key players in Global e-discovery Market are
- Xerox Corporation
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- FTI Consulting, Inc.
- Guidance Software, Inc.
- kCura LLC
- Exterro, Inc.
- Navigant Consulting Inc
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