The eDiscovery market helps reduce complex legal cases and reduce the time it takes to review documents. The eDiscovery process is IT-centric. This means that large amounts of structured and unstructured information must be identified, stored and collected before it can be transferred to another party for review, processing and analysis. The storage requirements for eDiscovery are significant. eDiscovery is a complex process that requires significant computing resources. This is because advanced data verification technologies and analytics technologies are used to extract legal insights from the ESI corpus.
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market dynamics
Drivers
The main driver behind the global growth of the e-discovery market is the increasing adoption of digital technologies. Data has seen an exponential increase in the number of companies across all sectors over the past decade. Due to the population explosion, the data is growing rapidly. Almost 90% of the world’s data has been created in recent years. By 2020, an estimated 44 zettabytes will be available.
opportunities
Artificial intelligence wants to revolutionize the legal profession. It is expected that AI-based analytics will improve the speed and quality of the discovery process. AI is also useful in text classification and translation. Embedding analytics and AI in eDiscovery is likely to provide major opportunities in the eDiscovery market for key vendors.
Constraints
In order for your business to run smoothly, you need cyber security. Cyber attacks and data breaches have increased in recent years. This can be considered as the major constraint in the global electronic discovery market. Many companies are unaware of this problem and their data is unprotected. This makes them more vulnerable to cyber attacks.
challenges
The major players in the global market will face significant challenges due to the high cost of maintenance and installation.
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The following top manufacturers are evaluated in this report
Symantec Corporation
IBM
Xerox Legal Business Services
Exterro
EMV
Epiq Systems
HPE
Kcura Corporation Credentials
FTI
Technology
Deloitte
Advanced Discovery
DTI
Consilio
Kröll Ontrack
Zylab
Management Software
Integration
KPMG
Fronteo
Recent Developments
DISCO introduced DISCO Case Builder in February 2020. DISCO Case Builder was a cloud-based, centralized repository that allowed for the management and organization of all case materials.
KLDiscovery launched Nebula Enterprise in March 2022. Nebula Enterprise, an extensible plug-and-play appliance that addresses a variety of compliance and security concerns, extended the power, flexibility, and advanced feature set of Nebula Enterprise to customers‘ data centers.
Nuix has partnered with KordaMentha, a well-known investment and advisory firm. KordaMentha provided clients with secure eDiscovery software and forensic expertise through this partnership.
Worldwide eDiscovery Market Statistics by Types:
ECA
is processing
Review
Forensic Data Collection
Legal Hold Management
Global eDiscovery Market Outlook by Application:
Lawyers and legal advisers
Government and regulatory bodies
Corporate legal and IT departments
Some of the major regions included in this report are:
– North America (the US and Canada and the rest of North America)
– Europe (Germany, France, Italy and rest of Europe)
– Asia Pacific (China, Japan, India, South Korea and Rest of Asia Pacific)
– LAMEA (Brazil, Turkey, Saudi Arabia, South Africa and rest of LAMEA)
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