DUBLIN--(BUSINESS WIRE)--The "eDiscovery Market by Component (Software (Processing, Review and Analysis, Identification, Preservation and Collection, and Production and Presentation) and Services), Deployment Type, Organization Size, Vertical and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global eDiscovery market is estimated to grow USD 10.76 Billion in 2018 and expected to reach USD 17.32 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period.
The focus on decreasing the operational budget of legal departments and increasing number of litigations are expected to drive the market across all regions. The need to adhere to regulatory policies and laws worldwide, and increase in the usage and penetration of mobile devices are other factors expected to drive the growth of the market. The rise in demand for predictive coding and increase in the usage of social media are expected to offer great opportunities for eDiscovery vendors.
Scope of the Report
- On the basis of services, the market has been classified into managed services, support and maintenance, and training, consulting, and integration.
- By deployment type, the market has been categorized into on-premises and cloud.
- On the basis of verticals, the market has been divided into Banking, Financial Services, and Insurance (BFSI), government and public sector, healthcare and life sciences, legal, IT and telecommunications, energy and utilities, retail and consumer goods, manufacturing, and others (education, media and entertainment, travel and hospitality, and transport and logistics).
Market Overview and Industry Trends
- Federal Rules of Civil Procedure
- General Data Protection Regulation
- Electronic Communications Privacy Act
- Health Insurance Portability and Accountability Act
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- Focus on Proactive Governance With Data Analytics and Emergence of New Content Sources
- Need to Decrease Operational Budget of Legal Departments
- Increase in Number of Litigations Across the Globe
- Proliferation of IoT Devices Across Various Verticals and Overabundance of Stored Data
- Growth in Compliance Requirements and Data Protection Regulations
- Higher Cost of eDiscovery Platforms and Services
- Contradiction Between Data Protection and eDiscovery
- Increased Demand for Predictive Coding to Simplify and Shorten Document Review Process
- Higher Demand for Cloud-Based E-Discovery Among SMEs
- Collaboration With Social Media Platforms Simplifies Litigation Processes
- Limited Technical Expertise for Managing the Advanced eDiscovery Mechanism
- Integration of Saas-Based eDiscovery With Traditional Platforms
- Lack of Awareness of eDiscovery
- Advanced Discovery
- Micro Focus
- Thomson Reuters
For more information about this report visit https://www.researchandmarkets.com/research/5fp4f7/global_10?w=4