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