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eDiscovery (Software and Service) Market is Expected to Reach USD 9.9 Billion Globally in 2017
According to a new market report published by Transparency Market Research ”eDiscovery (Software and Service) Market – Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2010 – 2017 ,” the global e-discovery market was worth USD 3.6 billion in 2010 and is expected to reach USD 9.9 billion in 2017, growing at a CAGR of 15.4% from 2010 to 2017. In the overall global market, the U.S. is expected to maintain its lead position in terms of revenue with 73% of global e-discovery market share in 2017.
Key factors driving the global e-discovery market include increasing adoption of predictive coding, growing risk mitigation activities in organizations, increase in criminal prosecutions and civil litigation and growth of record management across various industries. The U.S. eDiscovery market was valued at USD 3.0 billion in 2010, and is estimated to grow at a CAGR of 13.3% from 2010 to 2017 to reach USD 7.2 billion by 2017. The rest of the world e-discovery market is expected to grow at a CAGR of 23.2% to reach USD 2.7 billion by 2017.
This report broadly segments the e-discovery market into software based eDiscovery and services based eDiscovery. The global e-discovery software market was valued at USD 1.1 billion in 2010 and is expected to grow at a CAGR of 11.5% to reach USD 2.5 billion by 2017. The global e-discovery services market is expected to grow at a CAGR of 17.0% from 2011 to 2017.
In the next five years, the e-discovery industry growth will get further support from increasing automatic enterprise information archiving applications, growth in multi-media search for sound and visual data, next generation technology growth for cloud computing i.e. virtualization and increasing involvement of organizations in the social media space.
Some of the key players in the e-discovery market include IBM, Xerox, Guidance software, Integreon, Access data group, Autonomy, Case central Inc, Clearwell systems Inc and EMC.
Browse the full report at http://www.transparencymarketresearch.com/ediscovery-market.html