HOME Research Insight players have Adopted Various Strategies Such as Partnerships, Acquisitions, Expansions, and New Product Launches & Upgradations to Achieve Growth in the Market

players have Adopted Various Strategies Such as Partnerships, Acquisitions, Expansions, and New Product Launches & Upgradations to Achieve Growth in the Market

Electronic Discovery or E-Discovery is a kind of cyber forensics by which law enforcement can obtain, secure, search, and process any electronic data to be used as evidence in a legal proceeding or investigation. It is an initial phase of litigation, where the parties in a dispute are required to provide relevant information and records to each other, along with all other evidence related to the case. Global increase in litigations and need for stringent compliance with policies and regulations across the world have provided good opportunities of growth for the E-Discovery solution and service providers. MarketsandMarkets expects the global E-Discovery market size to grow from USD 7.89 Billion in 2016 to USD 22.62 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.4% from 2016 to 2021.

E-Discovery can be broadly described as a process in which electronic data is sought, located, secured, and searched with the intent of using it as evidence in a civil or criminal legal case. An electronic document is data from an organization that has the critical business and financial information about the organization. E-Discovery comprises solutions such as legal hold, early case assessment, data processing, technology assisted review, and data production, which can be used according to the requirements of an organization. In 2016, E-Discovery solutions and services have become an important aspect of technologies such as Business Intelligence (BI), digital forensics, and analytics solutions. The adoption of E-Discovery solutions and services has increased since these solutions can be easily integrated with the existing architecture and can be deployed on the cloud.

The key players in the E-Discovery market include Xerox Corporation (U.S.), Hewlett Packard Enterprise (U.S.), IBM (U.S.), FTI Consulting (U.S.), Guidance Software (U.S.), kCura (U.S.), and others. These players have adopted various strategies such as partnerships, acquisitions, expansions, and new product launches & upgradations to achieve growth in the market. The year 20152016 witnessed many new product launches and partnerships by the market players, which were done to expand their product portfolio and customer base globally.

Xerox introduced an analytics service to facilitate legal counsel with predictive analytics capability. This would enable legal teams to manage risk, automate workflows, and offer local eDiscovery knowledge and expertise across the globe. Additionally, Hewlett Packard Enterprise launched HPE Verity suite. It would enable organizations to perform big data analytics with information archiving, data protection, and eDiscovery to help organizations generate value and mitigate risk.

FTI Technology launched Ringtail Version 8.7 with 150 new features, which would help to increase productivity and reduce e-discovery costs. Furthermore, the company has expanded its Information Governance & Compliance Services Practice. This would enable the company to meet the growing regional demand and to offer its products and services globally.

Related Reports:

E-Discovery Market by Solution (Legal Hold, Early Case Assessment, Data Processing, Data Production), Service (Consulting, Implementation, Training & Support, Managed), Deployment Type (CLOUD, On-premises), and Vertical - Global Forecast to 2021

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