Transparency Market Research

eDiscovery Market Driven by Mounting Volumes of Electronically Stored Information at 16.2% CAGR: Transparency Market Research

eDiscovery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022


Albany, NY -- (SBWIRE) -- 11/02/2015 -- A new research study published by Transparency Market Research states that the global eDiscovery market will grow at a remarkable CAGR of 16.2% between 2014 and 2022. The report states that the market, which stood at US$5,563.7 million in 2013, will value US$21,089.1 million by 2022. The report states that the rising volume of electronically stored information (ESI) across organizations and the need to effectively manage this mounting data volume for civil litigation purposes are the key factors driving the global eDiscovery market.

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The emergence of social networking sites across the globe is also increasing the demand for eDiscovery solutions in the market. Rising use of eDiscovery solutions in government and regulatory agencies (leading end users of the market with a collective market share of 51% in 2013), several government regulations favoring the adoption of these solutions, and demand from organizations for internal investigations and efficient information governance are some other factors driving the market.

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The report is titled "eDiscovery Market (By Component - Software and Services; By Software Type - On-Premise Software and Off-Premise Software; By End-users - Government and Regulatory Agencies, Enterprises (Small, Mid and Large-Size Enterprises) and Law Firms) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022".

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The report broadly segments the market on the basis of components, end users, and key regional markets. Based on types of components of a typical eDiscovery solution, the market is further segmented into software and services. Currently, the market segment of on-premise software leads the market; it held nearly 61% of the market in 2013. However, rising adoption of cloud computing services is expected to fuel the demand for off-premise software in the future years.

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About TMR
Transparency Market Research (TMR) is a U.S.-based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR's exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.