Kenneth Research, in its repository of market research reports, have recently added a report on the Global eDiscovery Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global eDiscovery Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global eDiscovery Market valued approximately USD 9.1 billion in 2016 is anticipated to grow with a healthy growth rate of more than 11% over the forecast period 2017-2025. 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.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Deployment type:
By Organization size:
Small & medium size enterprises
Government & public sector
Energy & utilities
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market opentext, nuix, Microsoft, IBM, micro focus, FTI, zylab, EPIQ, fronteo, relativity, logikcull, cloudnine, driven, IPRO, veritas, delottie, ricoh. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global EDiscovery Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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