Seattle, WA -- (SBWIRE) -- 11/14/2019 -- e-Discovery Market – Insights
Electronic discovery, also known as e-discovery, refers to searching, locating, and securing electronic data in order to use as evidence in legal proceedings such as litigation, government investigations, or Freedom of Information Act requests. The approach includes both offline and online operations.

e-Discovery Market: Drivers
Increasing focus on decreasing litigation costs of organizations is expected to boost growth of the global e-discovery market. e-Discovery aids to construct laws for effective use and to maintain resources available to employees, thereby helping to decrease hardware and maintenance cost and enhancing overall operational efficiency of the organization.

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Moreover, increasing generation of unstructured Electronically Stored Information (ESI) data is one of the major factors propelling growth of the market. ESI data is generated in the form of e-mails, shared drive data, data on cloud, virtual environment business applications data, voice data, media files, instant messages, word processing documents, spreadsheets, and voice recordings. For instance, according to International Data Group, unstructured data is growing at the rate of 62% per year and 93% of all data is expected to be unstructured by 2022. Various organizations generate, store, and transfer data electronically, which further increases the demand for e-discovery in order to meet regulatory requirements and records retention obligations, prepare and respond to litigations, and assess into policy violations.

e-Discovery Market: Restraints
However, lack of awareness regarding e-discovery is a major factor hindering growth of the market. Lack of awareness regarding e-discovery may lead to issues while resolving legal cases and implementing any new law in the organization.

e-Discovery Market: Segment Analysis
Among deployment type, the cloud segment is expected witness the highest CAGR during the forecasted period, owing to increasing adoption of cloud-based solution and services that leads to high cloud traffic. For instance, according to the CISCO analysis, in 2016, the cloud traffic was recorded at 6.0 ZB, which is projected to reach up to 19.5 ZB by 2021. Moreover, benefits of cloud services such as reduction in costs related to infrastructure and hardware cost is increasing adoption of cloud, thereby contributing to growth of the segement.

e-Discovery Market: Regional Analysis
On the basis of region, the global e-discovery market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America accounted for the largest market share in 2017, and is expected to retain its dominance throughout the forecast period. Increasing adoption of cloud services is a major factor boosting growth of the market in North America. For instance, according to CISCO's analysis, in 2015, in North America, the cloud traffic was 1891 EB and is estimated to reach 6844 EB by 2020.

e-Discovery Market: Competitive Landscape
Key players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in August 2017, FTI Consulting, Inc. entered into a partnership with Exterro, Inc., which is a preferred provider of e-Discovery software in the legal and IT sectors. The aim of this partnership was to combine solutions of both companies to provide software, processes, and services that help simplify e-Discovery Suite, which in turn helps in providing more accurate facts for solving legal cases.

Major players operating in e-Discovery market include, Daegis Inc., Autonomy Corporation PLC, Guidance Software, Inc., FTI Consulting, Inc., Xerox Corporation, Hewlett Packard Enterprise, EMC Corporation, Symantec Corporation, and Integron Managed Solutions.

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Global e-Discovery Market Outlook: Taxonomy
By Solutions
-Legal Hold
-Early Case Assessment
-Data Processing
-Technology Assisted Review
-Data Production

By Deployment Type
-Cloud
-On-premises

By Service Type
-Consulting
-Implementation
-Training and Support
-Managed Services

By Verticals
-Government
-Banking, Financial Services, and Insurance
-Energy and Utilities
-Healthcare
-Travel and Tourism
-IT and Telecom
-Media and Entertainment
-Others

By Region
-North America
-Europe
-Asia-Pacific
-Latin America
-Middle East
-Africa

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