TMCnet News
Global $12.9 Billion eDiscovery Market Forecast to 2025 - Focus on Proactive Governance with Data Analytics and the Emergence of New Content SourcesDUBLIN, Feb. 19, 2021 /PRNewswire/ -- The "eDiscovery Market by Component (Software (Processing, Review and Analysis, Identification, Preservation and Collection, and Production and Presentation) and Services), Deployment Type, Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering. The global eDiscovery market size would grow from USD 9.3 billion in 2020 to USD 12.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period. The solutions segment is expected to grow at a higher CAGR during the forecast period eDiscovery solutions are used to find, manage, secure, and store relevant data to be presented as evidence during a legal or criminal case. It helps in solving various legal, constitutional, political, security, and personal privacy issues. The process of eDiscovery is done manually on paper or on a system. The growing data generation and litigations can be considered as a major reason for the adoption of eDiscovery solutions worldwide, as the need to manage and present this huge data can be easily achieved using the eDiscovery solutions BFSI vertical to hold the highest market share in 2020 The advent of advanced technologies will play a crucial role in the growth of the BFSI vertical. Digital technologies have enabled banking customers to access real-time banking and finacial information services on any device. The BFSI vertical has a plethora of data gathered from various sources, including capital markets, insurance, asset management, Automated Teller Machines (ATMs), and online transactions. The BFSI vertical possess detailed data of different types and formats. The stored data is used by banks for different purposes, such as regulatory compliance, customer behavior analysis, and other strategies. But this vertical is a litigation-intensive sector, which heavily requires the identification of relevant business and information. Besides, the increasing volume of data generation and the use of old legacy systems are few factors that increase the difficulty of managing complex situations. APAC to grow at the highest CAGR during the forecast period The region is generating large volumes of data through smartphones, IoT, and connected devices. The increasing technology developments, such as advancements in telecommunication standards, from 3G to 4G, and the growing internet penetration are contributing toward data generation. Due to these reasons, complying with data protection laws of foreign lands and the rising international litigations are expected to be leading to the adoption of eDiscovery solutions and services in the APAC region.
Drivers
Restraints
Opportunities
Challenges
Industry Trends
Electronic Discovery Reference Model
Regulatory Landscape
Company Profiles
Startup/SME Players
For more information about this report visit https://www.researchandmarkets.com/r/9rr93y Media Contact: Research and Markets SOURCE Research and Markets |