E-discovery Market is expected to reaching USD 16.3 billion by 2034

• The E-discovery market was estimated to be worth USD 14.9 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2034, reaching USD 16.3 billion. Presenting pertinent digital evidence that could influence a case's outcome is made possible via e-discovery. The market is developing and sustainable since it is associated with a variety of sectors.
• The process of gathering, storing, analyzing, and creating electronically stored information is known as "e-discovery" or "electronic discovery."

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GROWTH DRIVERS

• The industry is growing as a result of the quick increase in data produced by emails, social media, and digital platforms. According to IDC study, the global datasphere will increase from 33 zettabytes in 2018 to 175 zettabytes by 2025. Arcserve, a data protection business, also forecasted that the globe will have 200 zettabytes.
• The market is driven by the increase in corporate litigation and regulatory requirements, particularly in the BFSI sector. According to the British-American business law firm Norton Rose Fulbright, the two primary causes of the increased issues facing financial institutions are the quick speed at which technology is developing and the geopolitical upheaval that is impacting the financial markets.
• Furthermore, stringent rules around data management and openness are enforced by regulatory agencies such as the General Data Protection Regulation. The increase in cyber security risks, such as data breaches and cyberattacks, propels market expansion.

?MARKET SEGMENTATION:

·?????????By Component Type-?solutions and services

·?????????By Deployment Type- on premise and cloud based

·?????????By Organization Size- large enterprises and SMEs?

·?????????By Industry Verticals- BFSI, legal, government and public sector, energy and utilities, retail and consumer goods, manufacturing, IT and Telecommunications and Others

·?????????By Region-?North America, Europe, Asia Pacific, Middle & Africa and South America

Global Key Players:

·?????????Microsoft

·?????????IBM

·?????????DISCO

·?????????Nuix

·?????????Case Point

·?????????Onna

·?????????ONE Discovery

·?????????Texifter

·?????????Evichat

·?????????IPRO

·?????????Other Players

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Contact Person:? James Lin

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