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eDiscovery market Worth US$17.30 Bn.

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eDiscovery market (by Component (Software and Services)-by Deployment Type (Cloud and On-premises)-by Organization Size (Large Enterprises, Small and Medium Sized Enterprises)-by Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Government and Public Sector, Healthcare and Life Sciences, Legal, IT and Telecommunications, Energy and Utilities, Retail and Consumer Goods, Manufacturing, Others (education, media and entertainment, travel and hospitality, and transport and logistics))- by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) is expected to reach US$ $17.30 Bn by 2026 at a CAGR of 10%.

eDiscovery is the electronic aspect of collecting, identifying and producing electronically stored information (ESI). ESI includes documents, emails, databases, presentations, audio and video files, voicemails, web sites, and social media. Electronic discovery (eDiscovery) technology and application allow organizations to heave records and information from the massive volumes of content which helps to span the enterprise, including emails and eliminate exact copies to reduce the cost of reviewing the remaining content and efforts. The management and costs of eDiscovery can be managed and lowered through the implementation of a records management program.

The increasing number of litigations and the focus on decreasing the operational budget of legal departments, increase in the usage and penetration of mobile devices are some of the major driving factors expected to propel growth of the market around the world.
The restraining factors such as the higher cost of eDiscovery platforms and services and lack of technical expertise among staff would affect the growth of the market. The increase in the usage of social media and rise in demand for predictive coding are expected to offer opportunities for eDiscovery vendors.

Service segment is likely to have the larger market size during 2018-2026
In case of components, the services segment is likely to have the larger market size during the forecast period, owing to significant benefits that include trained resources, cost savings, support for legal research using eDiscovery software and 24X7 availability of customer service. With the IOT, increasing penetration of big data, edge computing, related technologies, analytics cloud and the demand for eDiscovery services among enterprises is expected to gain huge transaction. However, the identification, preservation, and collection segment is expected to reach at the highest CAGR during the forecast period.
On-premises segment is expected to hold the largest market size during 2018-2026

Deployment segment is divided into on-premises and cloud segment. Out of these on-premises segment is expected to hold the largest market size during the forecast period, as on-premises solutions help organizations to analyse remotely collected data cost-efficiently and facilitate compliance requirements. The on-premises deployment is preferred by many organizations due to various factors such as availability of security measures, storage of data in companies’ premises only, , and no third-party involvement for data management. However, the cloud deployment type is likely to reach at the highest CAGR during the forecast period, as it is widely adopted by businesses because of various benefits such as scalability, storage, security, flexibility, compliance and , portability.
Large enterprises segment is likely to have the largest market size during 2018-2026

While using organization size, the large enterprises segment is likely to have the largest market size during the forecast period, owing to the growing demand for the security of legal data during the process of legal cases is likely to boost the eDiscovery software demand among large enterprises.
Government and public sector vertical is estimated to hold the larger eDiscovery market share during 2018-2026
In verticals, the government and public sector vertical is estimated to hold the larger eDiscovery market share during the forecast period, as the public sector vertical is interested in adopting these technologies to improve external reach and improve their internal communications.

North America is expected to have the larger market share during 2018-2026
The region segment is divided into North America, Europe, Asia Pacific (APAC), Middle East and Latin America. Among these, North America is expected to have the larger market share during the forecast period, as North America is advanced region in terms of technology adoption and infrastructure due to various factors such as advanced IT infrastructure, standardized regulations, availability of proficient technical experts and presence of many enterprises. The APAC is expected to reach the highest CAGR during forecast period, owing to the adoption of cloud-based solutions by various vendors. This will definitely boost the demand for eDiscovery solutions in this region.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as AccessData, Advanced Discovery, Catalyst, CloudNine, Commvault, Conduent, Deloitte, Driven, Epiq, FRONTEO, FTI, IBM, Ipro, KLDiscover, Lighthouse, Logikcull, Micro Focus, Microsoft, Nuix, OpenText, Relativity, Ricoh, Thomson Reuters, Veritas, ZyLAB.

About Maximize Market Research
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the eDiscovery market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the eDiscovery market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain dynamic eDiscovery market positioning of competitors.

Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “eDiscovery Market”

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