Increase in security due to the facility of the back-up data may expand the growth of the E-Discovery Software market in the forecast period.
According to the current analysis of Introspective Market Research, the global E-Discovery Software market was valued at USD 10.01 Billion in 2019 and is expected to reach USD 24.54 Billion by the year 2026, at a CAGR of 13.80%.
E-Discovery Software software is also known as a document reviewer software. It allows the legal professionals to handle all the litigations and legal documentation that are used in detection and investigation processes. The software helps in collecting the data, analyze it, handle it and helps with the conservation of ESI (electronically stored information). Exponentially large data maintained and handled in the organizations is the major driver for the growth of the market.
The E-Discovery Software market is segmented into component, deployment model, industry verticals, organization size and according to the regions. Due to the high surge in data base for the multinational corporates in the year 2019, the market for E-Discovery Software gained a major rise in the same year from several industry giants. The high usage of database and the cloud servers for the legal documentation in the multinational organizations and law firms, there is expected to be a high demand for the E-Discovery Software market in the forecast period.
In terms of region, the market for E-Discovery Software is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The North-American region is projected to grow at the highest CAGR among all the regions by 2021. This is mainly due to the presence of technology industry giants such as Google, Microsoft and AT&T among many others.
The E-Discovery Software market is segmented by Component Type (Software (Processing, Review and Analysis, Identification, Preservation and Collection, and Production and Presentation) and Services), and Deployment Type (Cloud based and On-Premises), by End-User Industry (Government, Legal Sector, BFSI, Energy & Utilities, Healthcare, Travel & Hospitality, Transportation & Logistics, It & Telecom, Media & Entertainment and Others). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- By Component, the segment is highly dominated by the market share increase of the Software segment especially in the Government and Private sector.
- From the deployment model type segment, although the On-Premises segment is accounted for the largest share in the market, cloud segment is estimated to be the fastest growing segment with the highest CAGR in the forecast period.
- Due to the high presence of law firms in developed countries, there is a high demand for the E-Discovery Software market.
Key Participants include Hewlett-Packard, kCura, Symantec, Accessdata, Exterro, Inc., FTI Consulting, Inc., Fuji Xerox Co, Ltd., Guidance Software, Inc., IBM Corporation, Nuix Pty Ltd, Relativity, Veritas technologies LLC, ZyLAB.
For this report, Introspective Market Research have segmented the E-Discovery Software markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM