eDiscovery Software Market by End-user, Deployment, and Geography - Global Forecast to 2025
NEW YORK, June 17, 2022 /PRNewswire/ -- The "eDiscovery Software Market - Competitive Analysis, Impact of COVID-19, Five Force Analysis" report has been added to Technavio's offering. The report also offers information on several market vendors, including Casepoint Pvt. Ltd., Exterro Inc., International Business Machines Corp., Logik Systems, Inc., Micro Focus International Plc, Microsoft Corp., Nuix Pty Ltd., Open Text Corp., Relativity Global LLC, and ZyLAB among others. Moreover, the market value is set to grow by USD 2.70 million, progressing at a CAGR of 12.71% from 2020 to 2025, as per the latest report by Technavio.
Track Pricing, Supply, Demand, Trade, and Distribution Scenario along with Key Customers. View at Special Pricing
The rising volume of electronic data is one of the key factors driving the growth of the global eDiscovery software market. Enterprises generate data from various sources such as enterprise applications, social networks, web-based searches, and cloud-based applications. It is practically impossible for big organizations to analyze large volumes of data on a daily basis without using advanced technologies. With huge volumes of data at hand, organizations are looking to make the best use of raw data and convert it into useful information that would help in their decision-making process. They are focusing on installing data management and data discovery solutions such as eDiscovery solutions as a part of data analytics. Cloud-based solutions offer easy big data management and analytics in a cost-effective manner. Moreover, the adoption of cloud-based applications is significantly rising, owing to their low cost, and making it possible to upload, review, and produce documents online without delays. Thus, the increasing use of this type of application is also leading to the generation of a huge amount of electronic data which further enhances the demand for eDiscovery solutions. eDiscovery vendors provide the software and services required for the functioning of big databases at low subscription fees.
The eDiscovery Software Market is segmented by end-user (government and regulatory organizations and Non-governmental organizations), deployment (on-premises and off-premises), and geography (North America, Europe, APAC, MEA, and South America).
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COVID Impact and Recovery Analysis
The eDiscovery software market in North America witnessed a temporary decline in 2020, owing to the COVID-19 outbreak. Many eDiscovery consultation companies partially shut down their operations due to the pandemic. However, many companies that can operate remotely are gradually increasing the use of cloud-based eDiscovery software to continue operations with employees that can work from home. Thus, the demand for cloud-based eDiscovery software has increased, which will drive the regional market during the forecast period.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Deployment
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
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SOURCE Technavio; Technavio