The eDiscovery Market deals with the development, manufacture and distribution of electronic discovery know-how as well as other eDiscovery solutions and eDiscovery Services. Nowadays, enterprises of all sizes – from budding start-ups to humongous enterprises – are able to store to data very easily and swiftly. This allows companies to assist in government investigations through eDiscovery services very easily. The gradual adoption of the tools which enable the eDiscovery process has benefitted enterprises by allowing them to compile the necessary information swiftly when there is any government investigation.
But external investigation is not the only factor driving the growth of eDiscovery companies. An enterprise’s willingness to govern and organize its information in a coherent manner, maintenance of diligent electronic records, etc., also boost the eDiscovery consultant rates. The eDiscovery Market has affected information technology in two distinct ways: eDiscovery solutions help in gathering large data & reviewing it; eDiscovery services help in the complete automation of storage operations while sticking to schedules.
Topics Covered in this Report:
Scope & Regional Forecast of the eDiscovery Market:
The eDiscovery Market has attributed a few factors for fuelling its growth: rise in registration of companies, tightening compliance regulations, demand for proactive eDiscovery consultant services, seamless of flow of digital information and sorting out huge amounts of data. However, the eDiscovery Market also faces a few constraints in the form of the huge costs that enterprises need to burden themselves with. Start-ups and small enterprises have found that maintaining eDiscovery platforms and retaining the necessary infrastructure for smooth eDiscovery process functioning can cost a fortune.
The eDiscovery Market received a boost in 2006 when amendments were made to the Federal Rules of Civil Procedure (FRCP) which enabled all electronic information stored by eDiscovery companies as admissible in court. The admissible information can be in the form of screenshots, voicemails, emails, smartphones, etc.
The eDiscovery Market is currently dominated by North America while Asia-Pacific is considered as a region exhibiting the fastest growing demand. This rapid growth in demand is due to the development of IT infrastructure in countries like India and China. But the demand for eDiscovery platforms in Europe & North America is expected to hold steady as the regulations for maintaining company information are extremely tight.
Segmentations & Key Players involved in the eDiscovery Market:
The eDiscovery Market can be broken down into various segmentations on the basis of –
Applications: Attorneys and Legal Supervisors, Government and Regulatory Agencies and Legal and IT Departments of Enterprises.
Geographical Location: North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia) & Latin America, Middle East and Africa.
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Some of the key players involved in the eDiscovery Market are as follows:
- Lighthouse eDiscovery
- Thomson Reuters
- iCONECT Development
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