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Global eDiscovery Market Forecast Report 2021-2025 - Opportunities in the Emergence of Ai-Based Analytics and Predictive Coding for eDiscovery

Research and Markets
·3-min read

Dublin, Feb. 18, 2021 (GLOBE NEWSWIRE) -- 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 2025" report has been added to ResearchAndMarkets.com's offering.

The eDiscovery market is estimated at USD 9,340 million in 2020 and is projected to reach USD 12,860 million by 2025, recording a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.

eDiscovery is an integral part of litigation, government investigations, and regulatory and compliance submissions, under which parties exchange Electronically Stored Information (ESI) with each other. ESI majorly includes emails, documents, presentations, databases, voicemail, audio and video files, social media, and web sites.

The eDiscovery legal process generally includes three steps: in the first step, data is identified as relevant by a legal practitioner and placed on legal hold. In the second stage, the legal practitioners from both sides determine the scope of discovery, identify the relevant ESI, and make eDiscovery requests.

Finally, the evidence is extracted and analyzed using digital forensic and converted into a required format to represent in a court.

Market Dynamics

Drivers

  • Focus on Proactive Governance with Data Analytics and the Emergence of New Content Sources

  • Growing Number of Litigations Across the Globe

  • Growth of Esi and Social Media Penetration

  • Varying Structure of Regulatory Policies

Restraints

  • Increasing Chances of Cyberattacks and Data Theft Activities During the COVID-19 Pandemic

  • Lack of Skilled Professional Workforce

Opportunities

  • Emergence of Ai-Based Analytics and Predictive Coding for eDiscovery

  • Collaboration with Social Media Platforms Simplifies Litigation Processes

Challenges

  • High Initial Costs of Investment, Installation, and Maintenance

  • Privacy and Security Aspects

  • Lack of Awareness of eDiscovery Solutions

Industry Trends

  • Case Study Analysis

  • Use Case 1: Banking, Financial Services, and Insurance

  • Use Case 2: Retail

  • Use Case 3: Law

Electronic Discovery Reference Model

Patent Analysis

Porter's Five Forces Analysis: Market

Pricing Analysis

Technology Analysis

  • Ai and eDiscovery

  • Internet of Things and eDiscovery

  • Big Data and eDiscovery

Regulatory Landscape

  • Introduction

  • 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

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 eDiscovery Market, by Component

7 eDiscovery Market, by Deployment Type

8 eDiscovery Market, by Organization Size

9 eDiscovery Market, by Vertical

10 eDiscovery Market, by Region

11 Competitive Landscape

12 Company Profiles

  • Allegory

  • Casepoint

  • Congruity360

  • Deloitte

  • Disco

  • Everlaw

  • Evichat

  • Exterro

  • IBM

  • Kldiscovery

  • Knovos

  • Logikcull

  • Micro Focus

  • Microsoft

  • Nextpoint

  • Nuix

  • One Discovery

  • Onna

  • Opentext

  • Reductech

  • Relativity

  • Texifter

  • Thomson Reuters

  • Veritas

  • Zylab

For more information about this report visit https://www.researchandmarkets.com/r/sbpgjt

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900