Social Media interactions traversing organizational structure amounts to lateral growth in e-discovery market for the forecast period.
A compulsion to raise the bar in data governance standards by organizations and effective follow-through with ediscovery solutions in civil litigations are major market drivers.
Predictive coding and increase in civil litigations are key market drivers to growth and data security compliance is a key arbitrator to inclusive growth in the ediscovery market.
Still in infancy, e-discovery market has grounds to cover and M&A will foster growth and goodwill in the market.
The E-discovery market by solution comprises legal hold, early case assessment, data processing, technology assisted review and data production.
The E-discovery market by deployment includes off-premises and cloud.
By service type, it branches into consulting, training, implementation, training and support and managed services.
By industry, the market comprises Government, legal sector, BFSI sector, Energy and Utilities, Healthcare, Travel and hospitality, transportation and logistics, IT and telecom, media and entertainment and others.
The E-discovery market is segmented on the basis of component into services and software.
The software services are further segmented into on-premise and off-premise software.
The global E-discovery market based on end-use is classified into law firms, enterprises and government and regulatory agencies.
On the basis of region classification extends to Europe, North America, Latin America, MEA, and Asia Pacific.
On-premise segment by services currently leads the market and off-premise software on the rising strength of cloud computing and volume of data stored is projected to be a major market driver in the forecast period and has a foothold in South Korea, U.S, Japan, and England.
The dominant stakeholders in the market include on-premises solution providers, cloud solution providers, service providers, cloud-based application developers, litigation service providers, law firms and legal analytics vendors and consultants.
The services market by solution holds the largest market share due to past history of litigations and investigations in the corporate world.
North America retains hold in the global ediscovery market scenario by software and solutions due to mandatory adherence to regulatory standards.
A government inclined towards high adoption of ediscovery market predicts growth in the South Africa and Japanese Market.
Asia Pacific is chalked with high growth for the better part of the forecast period.
As per article dated July 2016, adoption of e-discovery is witnessing an upsurge in the market; thanks to expediting internal policies and internal investigations in relation to HR policies.
Law firms are eyeing a leading market share in consulting in the e-discovery market by services as this approach builds revenue pockets, capitalizing on progressive client relationships and paves the way for smooth e-discovery processes for future litigation.
The e-discovery market has not witnessed much software purchasing so market by services still holds the key to future growth, till a time when software finds market acceptance and with highly regulated markets of U.S. and England having reached a breaking point in software purchasing, e-discovery by services is sitting pretty.
The global industry players in the e-discovery market include IBM Corporation, FTI Technologies LLC, kCura LLC, ZyLAb, Cicayda LLC, Cloud nine, LogiKull, Lexbe, Ernst and Young, Global limited, Advanced discovery, D4 LLC and Navigant Consulting.
Key players in global ediscovery market encompass EMC Corporation, Daegis Inc., and HP autonomy, Guidance Software, Inc., FTI Consulting, Inc., Symantec Corporation and Integron Managed Solutions, Inc.
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