eDiscovery Global Market 2024 To Reach $20.04 Billion By 2028 At Rate Of 8.7%

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The eDiscovery market has experienced substantial growth in recent years, projected to rise from $13.53 billion in 2023 to $14.35 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.0%. This growth during the historical period can be attributed to several factors, including the increasing volume of electronic data, a continual rise in cybersecurity threats and incidents, an uptick in legal and regulatory investigations, a growing number of litigations, and the demand for efficient and cost-effective eDiscovery solutions.

What Is The Estimated Market Size Of The Global eDiscovery Market And Its Annual Growth Rate?
The eDiscovery market is projected to experience strong growth in the coming years, expected to reach $20.04 billion by 2028, with a compound annual growth rate (CAGR) of 8.7%. The growth during the forecast period can be attributed to several factors, including the increasing need for data privacy and security, the rising use of blockchain technology, a growing demand for eDiscovery services in emerging economies, challenges related to globalization and cross-border data discovery, and the increasing complexity of data sources and types.

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Growth Driver Of The eDiscovery Market
The growing volume of electronically stored information (ESI) is expected to boost demand in the eDiscovery market in the future. ESI refers to data that is generated, updated, sent, and stored digitally. Recently, the surge in digitization has led to a significant increase in ESI. The variety of formats and sources of this information that need to be recorded is becoming increasingly diverse. eDiscovery tools are utilized to conduct digital investigations on electronically stored data and facilitate the exchange of evidence in legal cases or investigations directly through the database.

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Which Market Players Are Driving The eDiscovery Market Growth?
Key players in the market include Casepoint LLC, CloudNine Discovery Services Inc., Commvault Systems Inc., Conduent Incorporated, Conduent Inc., International Business Machines Corporation, Microsoft Corporation, KLDiscovery Inc., Deloitte Touche Tohmatsu Limited, Epiq Systems LLC, Exterro Inc., FTI Consulting Inc., Open Text Corporation., Zapproved Inc., Logikcull Inc., Everlaw Inc., Veritas Technologies LLC, ZyLAB Technologies LLC, Mimecast Ltd., Proofpoint Inc., Gen Digital Inc., Consilio LLC, ONE Discovery, Absolute Software Corporation, Dun & Bradstreet Inc., Informatica Inc., SAS Institute Inc., Broadcom Inc., Amazon Web Services Inc., OneTrust LLC, TrustArc Inc., Iron Mountain Incorporated, Hindustan Computers Limited Technologies, Micro Focus International plc

What Are the Key Trends That Influence The eDiscovery Market Size?
Major companies in the eDiscovery market are concentrating on improving customer experience to secure a competitive advantage. Cloud-based services provide eDiscovery firms with scalable and cost-effective solutions for securely storing, managing, and analyzing large volumes of legal data. These services help streamline the discovery process and ensure compliance with legal standards.

How Is The Global eDiscovery Market Segmented?
1) By Component: Solutions, Services
2) By Organization Size: Large Enterprises, Small And Medium Enterprises (SEMs)
3) By Deployment Type: On-Premises, Cloud-Based, Hybrid
4) By End-User Vertical: BFSI, Retail Sector, Healthcare, Manufacturing, IT And Telecommunication, Government, Energy and Utility, Other End Users

Geographical Insights: North America Leading The eDiscovery Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

eDiscovery Market Definition
eDiscovery encompasses services utilized to obtain and exchange electronic data that organizations seek, locate, secure, and search during the initial stages of litigation. These services are employed when the involved parties must provide pertinent records and evidence related to a case. Also known as electronic discovery, this process involves obtaining and exchanging evidence in legal cases or investigations.

eDiscovery Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global ediscovery market report covering trends, opportunities, strategies, and more
The eDiscovery Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ediscovery market size, ediscovery market drivers and trends, ediscovery market major players and ediscovery market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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