세계의 eDiscovery 시장 규모는 2022년에 약 111억 달러로 평가되며, 2023년 120억 달러에서 2031년에는 233억 달러에 달하며, 예측 기간(2024-2031년) CAGR로 8.6%의 성장이 예측됩니다.
eDiscovery 시장은 기업이 복잡한 법률 프로세스를 간소화하기 위해 IT 중심의 솔루션을 채택하는 사례가 증가함에 따라 큰 변화의 시기를 맞이하고 있습니다. AI와 머신러닝(ML)을 활용한 고급 데이터 검토 및 분석 기술의 통합은 법적 인사이트 추출을 강화할 뿐만 아니라 상당한 컴퓨팅 리소스를 필요로 하는 고급 데이터 검토와 분석 기술의 통합을 통해 문서 검토 시간을 크게 단축합니다. 최근 IBM의 조사에 따르면 팬데믹 기간 중 59%의 조직이 디지털 혁신 노력을 가속화했으며, 66%는 이러한 진전을 통해 과거의 장애물을 극복했으며, PricewaterhouseCoopers는 AI가 세계 경제에 약 15조 7,000억 달러의 가치를 창출할 수 있다고 예측했습니다. 미화 약 15조 7천억 달러를 투입할 것으로 예측하고 있으며, 이는 AI가 전자증거개시 솔루션과 관련 프로세스에 혁명을 일으킬 수 있다는 것을 보여줍니다. 소셜미디어는 온라인 커뮤니티의 성장과 함께 주요 커뮤니케이션 채널로 부상하면서 e디스커버리의 전망을 더욱 풍요롭게 하고 새로운 기회를 제공합니다. 또한 전자기록관리(ERM) 시스템을 도입하면 워크플로우를 최적화하고 조직의 효율성을 높여 전자증거개시 관련 비용과 복잡성을 줄일 수 있습니다. 자동화된 전자증거개시 툴은 문서 재편집 및 대규모 검토와 같은 작업을 크게 간소화할 수 있습니다. 또한 클라우드 기반 소프트웨어를 사용하면 고객의 증거 파일을 안전하게 보호할 수 있으며, 최근 데이터 유출 사건으로 부각된 보안 문제를 해결할 수 있습니다. 전반적으로, 전자증거개시 분야는 중요한 데이터를 보호할 뿐만 아니라, 디지털 시대의 법률 관행을 개선하고 발전시키기 위해 기술을 활용하기 위한 경계에 서 있습니다.
Global eDiscovery Market size was valued at around USD 11.1 billion in 2022 and is expected to rise from USD 12 billion in 2023 to reach a value of USD 23.3 billion by 2031, at a CAGR of 8.6% over the forecast period (2024-2031).
The eDiscovery market is poised for significant transformation as organizations increasingly adopt IT-centric solutions to streamline complex legal processes. By effectively identifying, preserving, and collecting vast amounts of both structured and unstructured information, eDiscovery facilitates compliant data transfer for legal analysis while substantially reducing document review times. The integration of advanced data review and analytics technologies, powered by AI and machine learning (ML), not only enhances the extraction of legal insights but also demands considerable computational resources. A recent IBM survey revealed that during the pandemic, 59% of organizations accelerated their digital transformation efforts, with 66% overcoming past hurdles through these advancements. PricewaterhouseCoopers forecasts that AI could inject nearly USD 15.7 trillion into the global economy, signifying its potential to revolutionize eDiscovery solutions and related processes. Social media's emergence as a major communication channel, alongside the growth of online communities, further enriches the eDiscovery landscape, presenting new opportunities. Implementing Electronic Records Management (ERM) systems can also mitigate the costs and complexities associated with eDiscovery by optimizing workflows and enhancing organizational efficiency. Automated eDiscovery tools greatly simplify tasks like document redaction and large-scale reviews. Moreover, using cloud-based software ensures that clients' discovery files are well-protected, addressing security concerns highlighted by recent data breaches. Overall, the eDiscovery sector is on the cusp of leveraging technology not only to safeguard vital data but also to refine and advance legal practice in a digital age.
Top-down and bottom-up approaches were used to estimate and validate the size of the global ediscovery market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
global ediscovery Market Segmental Analysis
Global eDiscovery Market is segmented by Component, Organization size, Deployment Mode, Vertical, and region. Based on Component, the market is segmented into Solutions, and Services. Based on Organization size, the market is segmented into Large Enterprises, and SMEs. Based on Deployment Mode, the market is segmented into On-premises, Cloud. Based on Vertical the market is segmented into Government & Public Sector, Legal, Banking, Financial Services, and Insurance, Energy & Utilities, Healthcare & Life Sciences, Retail & Consumer Goods, Manufacturing, IT & Telecommunications, and Other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the global ediscovery Market
The exponential growth of data driven by digital technology adoption across industries is a key market driver for the global eDiscovery market. As organizations grapple with an overwhelming increase in data-expected to reach approximately 44 zettabytes by the end of 2020-there is an urgent need for effective eDiscovery solutions to manage, analyze, and leverage this information. The expansion of mobile devices and eCommerce transactions further contributes to data proliferation. Additionally, advancements in AI-based analytics are revolutionizing eDiscovery practices, enabling faster, more accurate data pattern recognition and predictive coding. This synergy of data growth and technological innovation propels the demand for sophisticated eDiscovery tools and services.
Restraints in the global ediscovery Market
The global eDiscovery market faces significant restraint due to the escalating prevalence of cyber-attacks and data breaches. With a majority of enterprises lacking effective cybersecurity measures and often exposing sensitive data, organizations become increasingly hesitant to adopt eDiscovery solutions due to fears about data loss and compliance risks. As reported by Cabinet Solutions, every 39 seconds, three-fifths of enterprises experience phishing and social engineering attacks, eroding trust in their ability to safeguard information. Furthermore, the Norton report indicates that by 2023, 50% of data breaches will be critical, prompting companies to prioritize cybersecurity over eDiscovery investments, thereby stunting market growth.
Market Trends of the global ediscovery Market
The global e-discovery market is witnessing a significant trend driven by the rise of AI-based analytics and predictive coding, which enhance the management of vast and diverse data sets, including social media, multimedia, and BYOD data. As organizations struggle to navigate increasing data volumes and compliance demands, predictive coding-a machine learning methodology that automates the identification of pertinent documents-becomes indispensable. Large enterprises are leading this growth due to their extensive data networks, while small and medium-sized enterprises (SMEs) are rapidly adopting e-discovery solutions to bolster governance, risk, and compliance efforts. Vendors are increasingly offering tailored solutions to meet SMEs' needs for transparency and efficiency, further fueling market expansion.