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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

e-Discovery is the process of searching, locating, and securing electronic data in order to use as evidence in civil or criminal legal cases. e-Discovery performs its operation both offline and online. Increasing demand for reduced litigation costs of organizations is influencing legal teams in these organizations to adopt e-discovery solutions. e-Discovery solutions help construct laws for effective use and maintenance of resources available to employees, in turn, reducing costs of hardware and maintenance and, thus improving overall operational efficiency of the organisation. This in turn, is boosting growth of the e-Discovery market Size.

Increasing generation of ESI data is one of the major factors driving growth of the market

The increasing volume of ESI (Electronically Stored Information) data is one of the major factors driving growth of the market. Organizations are generating ESI data in  the form of e-mails, instant messages, word processing documents, spreadsheets, shared drive data, business applications data, voice data, media files, voice recordings, data on cloud, and virtual environment among others unstructured data. For instance, according to International Data Group, unstructured data is growing at the rate of 62% per year and 93% of all data is expected to be unstructured by 2022. This growth is expected due to increasing number of organisations generating, creating, storing, and transferring data throughout the organization electronically. This in turn, is expected to increase the demand for e-Discovery solutions to help organizations meet regulatory requirements, meet records retention obligations, prepare and respond to litigations, and investigate into policy violations. This is thus expected to boost growth of the e-Discovery market.

Lack of awareness about e-Discovery is one of the major challenges hampering growth of the market

Lack of awareness about e-Discovery software and solutions is one of the major factors hampering growth of the market. Organizations face problems while resolving legal cases and implementing any new law in the organisation, due to lack of awareness regarding e-Discovery.

On the basis of deployment type, the cloud segment is expected to grow, exhibiting highest CAGR during the forecasted period

On the basis of deployment type, the cloud segment is expected to exhibit the highest CAGR during the forecasted period. Increasing adoption of cloud-based solution and services by enterprisers, in turn is expected to increase the cloud traffic. This in turn, is expected to drive growth of the cloud segment during the forecasted period. For instance, according to the CISCO analysis, in 2016, the cloud traffic was recorded at 6.0 ZB, which is projected to reach up to 19.5 ZB by 2021. Adoption of cloud-based solutions is increasing, as it helps organizations save on various types of cost such as infrastructure cost and hardware cost, which in turn helps utilise the saved costs in other activities that help strengthen the organization’s foothold in the market.

Global e-Discovery Market: Regional Insights

North America held a dominant position in the global e-Discovery market in 2017, and is expected to retain its dominance throughout the forecast period. Various organizations in the region are shifting their workload to cloud-based platforms, in turn, driving growth of the market in the region. For instance, according to CISCO analysis, in 2015, in North America, the cloud traffic was 1891 EB and is estimated to reach 6844 EB by 2020. 

Global e-Discovery Market: Competitive Landscape

Major players operating in e-Discovery market include Xerox Corporation, Hewlett Packard Enterprise, EMC Corporation, Daegis Inc., Autonomy Corporation PLC, Guidance Software, Inc., FTI Consulting, Inc., Symantec Corporation, and Integron Managed Solutions. The major players are adopting partnership strategies in order to gain a competitive edge in the market. For instance, in August 2017, FTI Consulting, Inc. entered into a partnership with Exterro, Inc., which is a preferred provider of e-Discovery software in the legal and IT sectors. The aim of this partnership was to combine solutions of both companies to provide software, processes, and services that help simplify e-Discovery Suite, which in turn helps in providing more accurate facts for solving legal cases.

Global e-Discovery Market Outlook: Taxonomy

By Solutions

  • Legal Hold 
  • Early Case Assessment 
  • Data Processing
  • Technology Assisted Review
  • Data Production

By Deployment Type

  • Cloud  
  • On-premises 

By Service Type

  • Consulting 
  • Implementation
  • Training and Support
  • Managed Services 

By Verticals

  • Government
  • Banking, Financial Services, and Insurance 
  • Energy and Utilities 
  • Healthcare
  • Travel and Tourism
  • IT and Telecom 
  • Media and Entertainment 
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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