Published Date: 30-Jun-2022
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According to a new report, published by KBV research, The Global eDiscovery Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 7.6% CAGR during the forecast period.
According to a new report, published by KBV research, The Global eDiscovery Market size is expected to reach $17.3 billion by 2028, rising at a market growth of 7.6% CAGR during the forecast period.
The Solution segment is showcasing a CAGR of 8.1% during (2022 - 2028). Businesses are under more pressure to employ eDiscovery technologies as a result of the GDPR and US privacy rules, and the expanding volume of data created. Moreover, the possibility of eDiscovery-related lawsuits encourages companies to employ eDiscovery solutions. Advanced analytical capabilities in eDiscovery systems provide businesses with more accurate and valuable data insights, especially during the early case appraisal phase.
The Cloud segment acquired maximum revenue share in the Global eDiscovery Market by Deployment Model in 2021, achieving a market value of $10.4 billion by 2028. Businesses can instantly add more computing resources to satisfy computing demand due to the cloud's indefinite scalability. When demand fluctuates, the cloud provides elasticity, allowing teams to easily turn computer resources on and off. Owing to this, eDiscovery market will account continue growth.
The Small & Medium-sized Enterprises (SMEs) segment has shown growth rate of CAGR of 9.5% during (2022 - 2028). Small and medium-sized businesses (SMEs) are quickly implementing eDiscovery solutions to improve their governance, risk, and compliance processes. Vendors in the market have been bringing out eDiscovery solutions with the purpose of catering to SMEs to help them meet various regulatory requirements.
The BFSI segment is leading the Global eDiscovery Market by Vertical in 2021, achieving a market value of $4.5 billion by 2028. The banking, financial services, and insurance industries rely heavily on data for a variety of objectives, including consumer tracking and regulatory compliance. Companies operating in this vertical are all part of the litigation industry, and they deal with a lot of safe documents and electronic data. As a result of all of these factors, eDiscovery plays a significant role in the BFSI sector.
The North America market dominated the Global eDiscovery Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.9 billion by 2028. The Europe market is estimated to witness a CAGR of 7.2% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 8.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/ediscovery-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, IBM Corporation, Deloitte Touche Tohmatsu Limited, CS Disco, Inc., Nuix Limited, KLDiscovery Inc., Relativity ODA LLC, Ipro Tech, LLC (ZyLab), Exterro, Inc., and Knovos, LLC.
By Deployment Model
By Organization Size
Unique Offerings from KBV Research
North America eDiscovery Market Future Scope & Opportunities 2022-2028
Europe eDiscovery Market Size & Growth Forecast 2022-2028
Asia Pacific eDiscovery Market Size, Share & Industry Outlook to 2028
LAMEA eDiscovery Market Growth, Trends & Forecasts 2022-2028