Global eDiscovery Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Model (Cloud and On-premise), By Organization Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028

Analysis of Market Size & Trends

The Global eDiscovery Market size is expected to reach $17.3 billion by 2028, rising at a market growth of 7.6% CAGR during the forecast period.

E-discovery is a type of digital investigation that looks for evidence in emails, corporate conversations, and other data, which could be utilized in a lawsuit or a criminal case. During litigation, the traditional discovery method is typical, but e-discovery is particular to digital evidence. Data from email accounts, instant chats, social profiles, online papers, databases, internal applications, digital photographs, website content, and any other electronic material that could be used during civil and criminal litigation are included in electronic discovery evidence.

E-discovery solutions aid in the development of policies for the proper use and maintenance of resources available to employees, lowering hardware and maintenance costs and boosting the organization's overall operational efficiency. This, in turn, is encouraging the e-discovery market's growth. Additionally, the rise in litigation around the world, the focus on proactive governance with data analytics, and the publication of new content sources are all contributing to the e-discovery market's overall expansion.

Machine learning and artificial intelligence will soon make it simple to review enormous volumes of information related to specific instances. Furthermore, using e-discovery tools to identify patterns would help end users comprehend things faster in the long run. The ability to keep papers tamper-proof has also been cited as a major driver of market expansion.

Additional advantages of e-discovery technologies, like the ability to view metadata or hidden data, which contains information about the document's author and changes made to the document, are also attracting a lot of interest. Other factors, such as the growing amount of electronically stored data and the rise in felony cases such as money laundering and tax fraud, are expected to propel the industry even further.

COVID-19 Impact Analysis

The outbreak of novel coronavirus has positively affected the eDiscovery market. During the COVID-19 pandemic, the number of people signing up for free eDiscovery plans has increased. Users are expected to convert to paying plans after the free plan expires, boosting the usage of eDiscovery solutions. The eDiscovery solutions & services will gain traction during the COVID-19 outbreak and will continue to grow in the post-COVID-19 era. The adoption of the work from home/remote work model is also expected to be driven by an increase in demand for cloud-based business continuity tools and services, such as productivity suites, collaboration tools, MDM, cloud-based contact centers, and BI and analytics.

Market Growth Factors

Increasing Adoption Of Smart Devices And Cloud-Based Services

Governments in several countries are gradually digitizing their operations and pushing individuals to do the same in order to cut costs. As a result, the operation's overhead costs are reduced. Furthermore, there has been an increase in overall litigation as a result of illegal immigration in emerging countries such as the United States and the United Kingdom. During the forecast period, these changes are projected to increase demand for the e-discovery solutions.

Cost Effectiveness Of Ediscovery Solutions Would Augment Its Market Demand

General counsel frequently underestimates the time and cost of bringing e-discovery in-house. While technology is lowering the cost of e-discovery, it would necessitate investments in software, hardware, and manpower. For example, a corporation may require various software products, which are frequently subscription-based and advanced software frequently necessitates the purchase of servers and other hardware. Despite these charges, switching to a different provider can save money. E-discovery, especially document inspection, can account for up to 80% of litigation expenditures.

Marketing Restraining Factor:

High Installation & Maintenance Cost

Despite the increased demand for eDiscovery in the big data era, budgets are being cut everywhere. The amount of data is growing exponentially. The changing data environment (data variety) Along with an increase in data volume, new files, and data types appear on the technical development scene every day. Departmental cooperation both inside and between them. In the public sector, litigation discovery might involve a large number of parties from different ministries. There is a lack of resources across the industry.

Component Outlook

On the basis of components, the eDiscovery market is segmented into solutions and services. The services segment dominated the eDiscovery market by generating highest revenue share in 2021. Various vendors providing consulting services enable firms to assess their present GRC program and provide a plan for implementing an effective GRC software solution. User pain points, goals, and timeframes are the focus of training and consulting services, which consider technological and human resource (HR) bandwidths. Consulting services are provided by service providers to assist their clients in implementing new approaches for recognizing extra revenue streams.

Organization Size Outlook

Based on the organization size, the eDiscovery market is divided into large Enterprises and SMEs. In 2021, the large enterprise segment garnered the highest revenue share in the eDiscovery market. Large organizations have a vast corporate network as well as numerous revenue streams. As a result, they generate a large volume of data that arises from the eDiscovery solution resulting in the growth of the eDiscovery market in this segment.

Deployment Mode Outlook

By deployment mode, the eDiscovery market is classified into on-premises and cloud. In 2021, the on-premises segment procured a substantial revenue share in the eDiscovery market. The e-discovery market's sales of on-premises e-discovery software can be attributed to the platform's ease of use and improved security features. Furthermore, in the next years, an increased focus on data security and integrity in a number of countries will fuel demand for on-premise solutions. Off-premise computing is likely to become more popular among businesses.

Vertical Outlook

On the basis of vertical, the eDiscovery market is fragmented into government & public sector; legal; BFSI; energy & utilities, healthcare & life sciences, retail & consumer goods, manufacturing, and IT & Telecom. In 2021, the IT & Telecom segment acquired a substantial share in the eDiscovery market. eDiscovery plays an important role in keeping copyright safe and secure as maintaining copyright is tough in the IT industry. Further, the IT & telecom industry is growing at a rapid pace due to the rise in the investments by key players, which would contribute to the growth of the eDiscovery market.

eDiscovery Market Report Coverage

Report Attribute	Details
Market size value in 2021	USD 10.5 Billion
Market size forecast in 2028	USD 17.3 Billion
Base Year	2021
Historical Period	2018 to 2020
Forecast Period	2022 to 2028
Revenue Growth Rate	CAGR of 7.6% from 2022 to 2028
Number of Pages	323
Number of Tables	564
Report coverage	Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling
Segments covered	Component, Deployment Model, Organization Size, Vertical, Region
Country scope	US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers	Cost Effectiveness Of Ediscovery Solutions Would Augment Its Market Demand Increasing Adoption Of Smart Devices And Cloud-Based Services
Restraints	High Installation & Maintenance Cost

Regional Outlook

Region-wise, the eDiscovery market is analyzed in North America, Europe, Asia Pacific and LAMEA. North America region emerged as the leading region in the eDiscovery market with the maximum revenue share in 2021. The North American region is gradually adopting eDiscovery solutions as it is an early adopter of modern technology and has stringent compliance regulations. In addition, organizations in this region have deployed eDiscovery solutions to handle cybersecurity and data breaches, deal with cross-border jurisdictional issues and privacy concerns, manage investigation matters and litigation, and maintain standards to accomplish all discovery obligations.

Free Valuable Insights: Global eDiscovery Market size to reach USD 17.3 Billionby 2028

KBV Cardinal Matrix - eDiscovery Market Competition Analysis

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the forerunners in the EDiscovery Market. Companies such as Nuix Ltd., KLDiscovery, Inc., Exterro, Inc. are some of the key innovators in EDiscovery Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Deloitte Touche Tohmatsu Limited, CS Disco, Inc., Nuix Limited, KLDiscovery Inc., Relativity ODA LLC, Ipro Tech, LLC (ZyLab), Exterro, Inc., and Knovos, LLC.

Recent Strategies deployed in eDiscovery Market

» Partnerships, Collaborations and Agreements:

• Mar-2022: Microsoft formed a partnership with EY, a multinational professional services partnership with headquarters in London. The partnership aimed to support businesses across the globe to utilize technology to manage a range of highly complex challenges faced by legal & compliance teams. The companies would help businesses to identify & mitigate ethical as well as reputational risks; investigate & manage regulatory challenges; detect fraud, and manage privacy and security risks.
• Oct-2021: KLDiscovery entered into a partnership with The Association of Certified E-Discovery Specialists (ACEDS), a leading organization across the globe for training & certification in e-discovery & part of The BARBRI Group. This partnership aimed to contribute e-discovery and data management resources to the rising ACEDS global community, and ACEDS would accelerate its message via educational offerings that advantage ACEDS’ members and the legal community.
• May-2021: IBM came into a partnership with Cleveland Clinic, a nonprofit American academic medical center based in Cleveland, Ohio. The partnership aimed to establish the Discovery Accelerator, a joint Cleveland Clinic, IBM center with the aim of fundamental advancements in the pace of discovery in healthcare & life sciences via the utilization of high-performance computing on the hybrid cloud, AI, and quantum computing technologies.
• Nov-2020: Nuix entered into a partnership with KordaMentha, an Asia Pacific advisory and investment firm. Through this partnership, Nuix’s latest completion of the IRAP assessment enables KordaMentha to offer consumers more options from the portfolio and with added security assurance. This partnership aimed to provide clients with the best and most secure eDiscovery software wrapped in the services & forensic expertise.
• Nov-2020: Knovos partnered with Forensic Risk Alliance (FRA), a leading forensic accounting, data governance, technology solutions, & forensics consulting firm. Under this partnership, the companies would focus on helping clients to change the way they interact with data. The company aimed to provide new-age eDiscovery & Data Management offerings for its clients across the globe.
• Oct-2020: Nuix came into a partnership with noticia, Canada’s next-generation full-service eDiscovery firm. The partnership aimed to offer a less risky migration path for Canadian government agencies, corporations, as well as law firms that are dissatisfied with their existing eDiscovery platform.
• Jul-2020: Exterro entered into a partnership with Slack Technologies, an American international software company. From this partnership, the companies aimed to help consumers of both platforms expand their collection abilities to ensure that all enterprise communication data is uncovered.

» Product Launches and Product Expansions:

• Apr-2022: Exterro launched Exterro Data Discovery & Exterro Consent. Exterro Privacy suite is utilized by hundreds of businesses worldwide to safeguard consumers’ and employees’ personal information. These newly launched capabilities deliver fast, secure, & automated low-cost privacy compliance for those organizations.
• Apr-2022: Microsoft introduced Microsoft Purview eDiscovery (Premium), formerly known as Advanced eDiscovery. This launch would add feature functionality to help organizations efficiently discover the data appropriate for an investigation, case, or inquiry. The latest capabilities in eDiscovery (Premium) involve tracking reactions to specific Teams' messages & conversations within eDiscovery collections.
• Mar-2022: Knovos unveiled eZRview, the latest version of the company's flagship electronic discovery technology. Through the launch, the company unveiled chat or Instant Messaging (IM) data discovery support for electronic discovery. In addition, the eZReview would become capable of processing data collected from Microsoft Teams & Slack applications. Once processed, Attorneys can begin review from the same platform.
• Dec-2021: KLDiscovery introduced Nebula, eDiscovery.com domain with a website developed for its flagship information governance & eDiscovery solution. Nebula is a powerful eDiscovery platform boasting the new in AI & machine learning designed for unparalleled ease in utilization.
• Nov-2021: IBM introduced updates to Watson Discovery, an artificial intelligence search & text analytics platform. The latest features would allow consumers to train Watson Discovery to understand, read & surface accurate answers from complex, large & industry-specific skills, without the requirement of data science skills.
• Jul-2021: Microsoft introduced the latest advances for eDiscovery. Through this launch, the company aimed to support even larger & more complex cases, improvements to the workflow, and capabilities to streamline the review process with enhancements to the review set layout. This product would further help businesses to manage large cases expanding the whole amount of content that could be managed within one advanced eDiscovery case.
• Jun-2021: Exterro introduced Exterro Review, a groundbreaking platform that is the fastest & most cost-effective enterprise document review solution existing currently. The auto-scalable architecture has the capability to ramp up the speed on demand and parallel processing would provide incomparable ingestion & processing speeds, while innovations in indexing & data storage make sure the fastest batch processing. The features, along with lightning-fast searches & doc-to-doc navigation, make Exterro Review the fastest solution in the industry.
• Feb-2020: Nuix released updates in Nuix Workstation, Nuix Investigate, & Nuix Discover. These updates would dramatically streamline the process for consumers working with large volumes of ESI (electronically stored information) in legal issues, regulatory responses, & internal investigations. By using Nuix Workstation & Nuix Investigate, organizations would be enabled to build & manage large repositories of ESI responding to or in advance of discovery issues & investigations. This expansion enables consumers to use secure, speedy transfer technologies to seamlessly promote subsets of the data to Nuix Discover.

» Acquisition, and Merger:

• Jul-2021: Ipro completed the acquisition of ZyLAB, a developer of the software. ZyLAB is known for its data science technology through its ZyLAB ONE electronic discovery platform & ZyLAB Legal Hold products, which would help Ipro to expand its legal and analytics focus.
• May-2021: Relativity acquired Text IQ, a Top 100 AI company applying AI to identify sensitive data. Under this acquisition, Text IQ would leverage the new in unsupervised machine learning (ML), social network analysis (SNA), graphical modeling, natural language processing (NLP), and deep learning to create AI solutions for the largest enterprises in the world to manage & mitigate risks in enterprise data.
• Jan-2021: Relativity signed an agreement to acquire VerQu, a data management software company. The integration of VerQu into Relativity's SaaS products would transform the way organizations handle collaboration & chat data, & massively accelerate the ability to collect, analyze, monitor & review all types of unstructured data seamlessly & securely.
• Dec-2020: Exterro took over AccessData, the industry's leading provider of digital forensic investigation technology. From this acquisition, the company aimed to support its vision of empowering consumers to proactively & defensibly manage their legal governance, risk & compliance (GRC) obligations along with maintaining & ensuring the highest levels of data integrity.
• Jul-2020: Ipro announced the acquisition of NetGovern, a leader in Information governance, risk, & compliance software. Through this acquisition, Ipro would be able to provide the latest workflow in the legal industry, extending across the whole Electronic Discovery Reference Model (EDRM) from information governance, to in-place early data assessment, through electronic discovery & beyond.
• Jan-2020: KLDiscovery took over Superior Document Services, full-service litigation support & consulting company focusing on e-discovery. SDS built its business by delivering high-touch, customized document & electronic discovery services and ensuring the highest quality control & safety standards, making them perfect for KLD. Superior's customers would greatly benefit from KLD's full suite of latest solutions, unique project management as well as world-class technical support teams committed to providing the best consumer service in the industry.

» Geographical Expansions:

• May-2022: DISCO expanded its geographical footprints in New York by opening a new office. This expansion would enable the company to explore innovative ways of technology that deliver better legal outcomes. In addition, the DISCO would provide proximity to leading global law firms, international businesses, and an investor community that increasingly engage DISCO to explore new ways technology can deliver better legal outcomes.
• Feb-2022: Deloitte expanded its geographical footprints to the Kingdom of Saudi Arabia. By this, the company became the first provider of an online Relativity platform based in Saudi Arabia.
• Feb-2022: Exterro announced the expansion of its geographical footprints in Texas & the UK. This expansion would strengthen the company’s market reach & global footprint, along with solidifying its position as the leading company in Legal GRC.

Scope of the Study

Market Segments Covered in the Report:

By Component

• Services
• Solution
  • Identification, Preservation & Collection
  • Processing, Review & Analysis
  • Production & Presentation

By Deployment Model

• Cloud
• On-premise

By Organization Size

• Large Enterprises
• Small & Medium-sized Enterprises (SMEs)

By Vertical

• BFSI
• Manufacturing
• Government
• Telecom & IT
• Consumer Goods & Retail
• Healthcare & Life Sciences
• Energy & Utilities
• Legal
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Microsoft Corporation
• IBM Corporation
• Deloitte Touche Tohmatsu Limited
• CS Disco, Inc.
• Nuix Limited
• KLDiscovery Inc.
• Relativity ODA LLC
• Ipro Tech, LLC (ZyLab)
• Exterro, Inc.
• Knovos, LLC