E-Discovery Software Market Size, Share Global Analysis Report, 2019–2026

Industry Insights

[110+ Pages Report] According to the report published by Facts Factors, the global e-discovery software market size was worth around USD 3 million in 2019 and is predicted to grow to around USD 8 million by 2026 with a compound annual growth rate (CAGR) of roughly 12% between 2020 and 2026. The report analyzes the global e-discovery software market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the e-discovery software market.

The report encompasses the forecast as well as analysis of the E-Discovery Software market on the global and regional levels. The study displays historical data of 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million). Additionally, the market growth drivers, opportunities, limitations, and trends are also included in the E-Discovery Software market report. 

We have included industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the E-Discovery Software market in our study.

Key Insights from Primary Research

• On the basis of primary research, interviews, and expert opinion, we analyzed that global E-Discovery Software market to grow at nearly 12% for the forecast period 2020 to 2026.
• On the basis of secondary research, we intended that demands global E-Discovery Software market will grow and revenue will increase around 8 Million USD by the end of 2026
• Geographically, North America dominated the global E-Discovery market in 2019. In 2019, North America held the E-Discovery Software market a 34% share in the global market. Along with North America, Asia Pacific also held the largest growth for global E-Discovery Software. In 2019, the market share was 31% and expected to faster growth. Along with this, the E-discovery Software market is also growing in Europe and Latin America.
• Based on the type segment, the web-based segment is holding the largest share while iOS occupied the least share and expected to foresee the faster growth around 12% between 2019 to 2026
• Considering the end-user, the service providers e-discovery market share is 75% and expected to record the highest CAGR over the forecast period

Key Recommendations from Analysts

• Our analysts recommend that the service providers segment in the e-discovery market is expected to record significant growth over the forecasted period due to the rising number of software service providers around the world.
• The market growth over the forecasted period is attributable to          the soaring increase in the number of electronic device users for storing legal information
• In recent years, the number of regulatory agencies has around the world has increased and is probable to increase in years to come. This trend in the legal sector is anticipated to be a key market driving factor in developed as well as developing countries.
• Our analysts predict that the emergence of cloud computing is anticipated to create huge opportunities for the global e-discovery market, as cloud computing technology can easily store huge amounts of client data.
• As per our analysts, the Asia Pacific e-discovery market is expected to record the fastest growth over the forecasted period recording a CAGR of 13.0%, due to increasing adoption of software by legal service providers for data efficient assessment.

Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies used by market competitors. It also encompasses PESTLE analysis and SWOT analysis.

The report also offers an in-depth analysis of the market share of each industry player and gives an outline of the market position of key players in the E-Discovery Software market. Moreover, the study offers wide coverage of key strategic improvements witnessed in the market such as acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, R&D activities, and geographical expansion of key players of the E-Discovery Software market.

The study provides a decisive view of the E-Discovery Software market by segmenting the E-Discovery Software market based on Deployment Mode, End-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2020 to 2026. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

During the past few years, tremendous growth has been noticed in the use of email, internet, smartphones, and other electronic devices. It was noted that in 2016 there were around 2 billion email users and 205 billion emails were sent and received per day across the globe. These, devices and modes of communication have noticed significant growth in the last few years. As a result, the legal world adopted the new approach of discovery method. Enormous files and paper trails were replaced with backup data and internet servers. E-discovery is considered expensive, time-consuming and risky. The expenses include both internal and external costs.

Report Scope

The actual cost of e-discovery is difficult to calculate, as it is complex to know how rapidly the reviewers will review the documents along with the size of the data. The demand for cloud technology is growing rapidly. With the help of cloud computing, the company can transfer its entire data to cloud from where it can be accessed easily, further in-case if there is a need for this data. Thus, increasing the usage of cloud technology is expected to act as an opportunity for the e-discovery market in the near future.

The E-Discovery Software market is segmented based on deployment mod and end-user. Deployment mode-wise, the market is classified into Web-Based, On-premises/Installed, iOS, Android. In terms of End-User, Service Providers, Law Firms, Corporations & Governments.

Some of the leading players in the global market include

• Microsoft Corporation
• Logikcull
• Relativity
• AccessData
• OpenText
• LexisNexis
• Driven Inc.
• Veritas Technologies
• Exterro
• FTI Technology
• Kroll Ontrack
• Nuix
• CloudNine
• ZyLAB
• OpenText Corporation
• CS Disco Inc.
• Xerox Holdings Corporation
• Micro Focus International plc.

This report segments the E-Discovery Software market as follows:

By Deployment Mode Segment Analysis

• Web-Based
• On-premises/Installed
• iOS
• Android

By End-User Segment Analysis

• Service Providers
• Law Firms
• Corporations & Governments

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle-East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle-East Africa

Key Pointers Addressed by the Report

• Historical data and forecast analysis of the market
• Drivers and Restraints affecting market dynamics
• Exhaustive analysis about the future market trends
• Comprehensive information about the leading market segments and region
• Strategic developments made by the competitive players and in-depth analysis about its impact on market growth