Due to lower maintenance costs of documents and data production across the world, the demand for data processing solutions has been growing rapidly. Depending on deployment type, the off-premise segment is leading the market, and is expected to register the highest growth rate, owing to increasing cloud computing and storage and rising volume of digitally stored data.
Increasing Number of Lawsuits is the Major Driver for the Market
In the competitive global market, companies are targeted by their competitors, through industrial espionage, spreading disinformation, and leaking confidential information, to damage the company’s brand value in the market. It would be an easy task for a well-financed and motivated group to attack the technical infrastructure of an adversary, given the clear vulnerabilities, low-risk, and a large reward for these attacks. Thus, there has been an increase in the number of lawsuits. In this kind of a scenario, electronic discovery plays a pivotal role in easing the investigation process.
SaaS - The Only Sensible Solution for Small Litigations
The cost of e-discovery has been identified as a primary concern affecting adoption among many organizations. The lack of ability to control and predict the cost has become a common challenge. Hosted deployment models have enabled organizations to solve their e-discovery needs, without investing in the necessary infrastructure and management. Most of the MSPs offer a pricing structure that is a combination of data volume (for processing and storage) and subscription-based fees (for review). On the contrary, SaaS solutions often require self-support by internal IT and legal teams, and are more compelling in pricing than hosted solutions. With SaaS model, the burden of maintaining the most recent version of the software is eliminated, as long as software is continually innovated and the most up-to-date versions are available, without any additional upgrade fee or maintenance.
Share of the North American Electronic Discovery Market is Decreasing Rapidly
North America constitutes more than half of all the electronic discovery spending in the world. Owing to the growing technological developments in the field of cloud and analytics and the emergence of mobile technologies, the market is in an emerging phase in Asia-Pacific, Latin America, and Middle East & Africa. The rapid growth in the Asia-Pacific segment is being brought about by the massive scale of industrial development, particularly in the countries of India and China, focused on a robust IT infrastructure.
Key Developments in the Market:
October 2017 - Relativity unveiled next evolution of their e-discovery platform. The company also earned an ISO 27001 certification for the security of RelativityOne. Nearly 3.1 billion documents have been run through Relativity Analytics, till date. More than 500 new features were delivered to the platform, in 2017.
August 2017 - Zapproved and Code42 introduced a new e-discovery product integration to streamline cloud-based preservation and collection for enterprise legal departments. The integration combines Zapproved's Legal Hold Pro software, which allows in-house corporate legal teams to reduce costs and risk, by automating legal holds and data preservation requests, with Code42's endpoint data protection software, which backs up employee data to a secure on-premises or cloud location.
Major players: SYMANTEC CORPORATION, DELOITTE, IBM CORPORATION, RELATIVITY, ZYLAB, XEROX CORPORATION, ACCESSDATA GROUP LLC, RECOMMIND INC., GUIDANCE SOFTWARE INC., AND MICRO FOCUS, amongst others.
Reasons to Purchase this Report
- Understanding how the growing IT infrastructure of enterprises act as a driver of the global market scenario.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- The solutions and type of security that are expected to dominate the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Increase in Lawsuits
4.2.2 Rise in Advanced Digital Technologies
4.2.3 Digitization of Information
4.2.4 Need for Securing Information
4.3 Factors Challenging the Market
4.3.1 Increase in Costly IT Solutions
4.3.2 Intense Competition in the Market
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors
5. Global Electronic Discovery Market Segmentation
5.1 By Service
5.1.2 Data Collection and Processing
5.1.4 Managed Services
5.1.5 Hosted Review
5.2 By Software
5.2.1 Early Case Assessment
5.2.2 Data Collection
5.2.3 Legal Hold Management
5.3 By Deployment
5.4 By End User
5.4.1 Defense Forces
5.4.2 Legal Companies
5.4.4 Energy & Utilities
5.4.5 IT Sector
5.4.6 Transportation & Logistics
5.4.7 Media & Entertainment
5.4.9 Other End Users
5.5 By Geography
5.5.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.5.4 Latin America
22.214.171.124 Rest of Latin America
5.5.5 Middle East & Africa
126.96.36.199 United Arab Emirates
188.8.131.52 Saudi Arabia
184.108.40.206 Rest of Middle East & Africa
6. Competitive Intelligence – Company Profiles
6.1 Symantec Corporation
6.3 IBM Corporation
6.5 AccessData Group
6.7 Xerox Corporation
6.8 AccessData Group LLC
6.9 Recommind Inc.
6.10 Guidance Software Inc.
7. Investment Analysis
8. Outlook of the Electronic Discovery Market