• 出版社/出版日：Mordor Intelligence / 2021年1月
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The Electronic Discovery Market has registered a CAGR of 9.5% over the forecast period 2021 – 2026. With the evolution of a digital universe and the availability of faster bulk storage devices, electronic information and data constitute the factors that companies are increasingly relying on, owing to the lower maintenance costs of documents and data production across the world. This has led to the challenges faced by the enterprises, in terms of collection and storage of digital data, to be used in litigation and regulatory processes. To manage this electronic data, electronic discovery (e-discovery) solutions are being deployed.
– E-discovery solutions automate and facilitate the e-discovery process, which includes the identification, preservation, collection, processing, review, analysis, and production of digital data in support of the common law discovery process, in litigation or other investigative proceedings.
– According to the RAND Corporation, the majority of Fortune 1000 corporations now spend an estimated USD 5 million to USD 10 million, annually, on e-discovery. Moreover, by 2020, it is expected that the data created and copied annually will reach approximately 50 zettabytes (50 trillion gigabytes), further generating the need for e-discovery solutions.
– With the evolving technological world and the global market, there is intense competition among companies. With this comes the risk of being targeted by their competitors, through industrial espionage, spreading false information, and leaking confidential information, to damage the company’s brand value in the market.
Key Market Trends
Rising Adoption of e-Discovery Services by the Government Sector
Government departments across the world have recognized the value of electronic records for various investigations. Various institutions, such as The Civil Division of the United States Department of Justice, have been insisting on the impotence of such electronic records.
Governments have various regulations to be checked, when it comes to the establishment of new companies, etc. The recent case of “Paradise papers” emphasizes the need for e-discovery in governmental institutes for finding various felonies committed, such as money laundering, tax frauds, etc.
Cases in the past faced by the US government, such as accusations against 19 defendants participating in a criminal conspiracy, have been side-tracked. This has been done by providing about 200 TB of data, out of which only 8 TB of data was relevant to the case. Even the 8 TB data was not in a relevant format to search. Such cases indicate the importance of e-discovery for governments.
Federal legal professionals are yet to use e-discovery extensively. It has been estimated that only 38% of them can show accurate, trustworthy information. Government professionals have less confidence in the e-discovery software. But, with the growing electronically stored information (ESI), this is bound to change.
North America Expected to Remain the Largest Market for Electronic Discovery Solutions
North America is the largest market for electronic discovery solutions in the world. Out of all the 50 states in the country, 49 states have already enacted e-discovery rules. Hawaii, being the youngest of all the states, has not yet appeared on the list and is making its efforts to establish e-discovery rules. California has most recently regulated e-discovery laws in the country. In 2009, after the California Code of Civil Procedure was amended by the Electronic Discovery Act to address the discovery of electronically stored information, further amendments took place even in 2012, which became effective in 2013.
The State of California, owing to the aforementioned factor, has the most updated laws on e-discovery. E-discovery solutions are put to work when situations, like lawsuits, internal investigation, mergers and acquisitions, and data breach events occur. In the case of the United States, lawsuits and data breach incidents prove to be the trigger in most of the cases.
According to the data from the Administrative Office of the US Courts, 2017, the US courts of appeals filings rose 10% from 2016. The bankruptcy appellate panels reported that filings rose by 1%, while the filings for the Federal Circuit rose by 11%. In the US district courts, filings of civil cases also rose by 6% in 2017, from 2016. This scenario, with highly penetrated electronic discovery laws in the country, is enabling the use of e-discovery solutions to mine the required data and present it to the court.
The electronic discovery market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability. In March 2017, IBM revealed that it planned on updating the discovery service of its artificial intelligence-powered platform, Watson, with an expansion of its eDiscovery and business research technology. Watson Discovery Service enabled developers to implement a machine learning model in their search tools, which allowed the tools to understand how certain language terms are related on a deeper level. The service enabled developers to create search and e-discovery tools using Watson’s technology, which comprehended language and data on an almost human level.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
1.1 Study Deliverables
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Study Assumptions
2.2 Analysis Methodology
2.3 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increase in Lawsuits
4.3.2 Digitization of Information
4.3.3 Need for Securing Information
4.4 Market Restraints
4.4.1 Language Translation
4.4.2 Higher Costs of E-discovery Solutions
4.5 Value Chain Analysis
4.6 Industry Attractiveness- Porter’s Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Service
5.1.1 Professional Service
5.1.2 Managed Service
5.2 By Software
5.3 By Deployment
5.4 By End User
5.4.1 Government (Federal Agencies)
5.4.2 Energy and Utility
5.4.3 IT and Telecommunication
5.4.4 Transportation and Logistics
5.4.6 Media and Entertainment
5.4.8 Other End Users
5.5.1 North America
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.5.4 Latin America
188.8.131.52 Rest of Latin America
5.5.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Relativity ODA LLC
6.1.3 AccessData Group Inc.
6.1.4 ZyLAB Inc.
6.1.5 Xerox Corporation
6.1.7 Guidance Software Inc.
6.1.8 Micro Focus International PLC
6.1.9 Exterro Inc.
6.1.10 Driven Inc.
6.1.11 Nuix Pty Ltd
6.1.12 Veritas Technology LLC
6.1.14 Kroll Ontrack LLC
6.1.15 FTI Consulting Inc.
6.1.16 Microsoft Corporation
6.1.17 Catalyst Repository Systems Inc.
6.1.18 Everlaw Inc.
6.1.19 Deloitte Touche Tohmatsu Limited
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS