The eDiscovery market is driven by factors such as an increase in electronically stored information, increasing penetration of internet and social media, and increasing demand for better governance with data analytics. Discovery of electronically stored information in the digital age has become an effective tool to efficiently analyze discover and manage data in different verticals, thus creating demand for these solutions.

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The eDiscovery market has witnessed significant demand for these solutions over the last few years due to the increasing regulatory compliance requirements, rapid exploration of IoT solutions and services providers across different verticals, and digitalization of government functionary utilizing data analytics for efficient governance.

Different industry verticals utilizing eDiscovery solutions include BFSI, government, energy & utilities, IT & telecom, legal, media & entertainment, healthcare. Of all the verticals, government sector accounts for the largest share of the eDiscovery market, globally.

North America accounted for the major share in the eDiscovery industry in 2017, globally the region is home to a large number of industry players and also have been in forefront of utilizing these platforms by different organizations such U.S. Federal Government, Litigation Industry and others.

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Some of the key players operating in the global market are KrolLDiscovery LLC, AccessData Group LLC, Guidance Software, Inc., LexisNexis Group, Dell EMC, FTI Technology LLC, Microsoft Corporation, Symantec Corporation, IBM Corporation, Relativity, and Conduent Inc.

Source: VynZ Research