eDiscovery Market is Expected to Reach USD 9.9 Billion Globally in 2017 : Transparency Market Research
Albany, New York (PRWEB) August 06, 2013 -- According to a new market report published by Transparency Market Research "eDiscovery (Software and Service) Market - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2010 - 2017," the global e-discovery market was worth USD 3.6 billion in 2010 and is expected to reach USD 9.9 billion in 2017, growing at a CAGR of 15.4% from 2010 to 2017. In the overall global market, the U.S. is expected to maintain its lead position in terms of revenue with 73% of global e-discovery market share in 2017.
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Key factors driving the global e-discovery market include increasing adoption of predictive coding, growing risk mitigation activities in organizations, increase in criminal prosecutions and civil litigation and growth of record management across various industries. The U.S. eDiscovery market was valued at USD 3.0 billion in 2010, and is estimated to grow at a CAGR of 13.3% from 2010 to 2017 to reach USD 7.2 billion by 2017. The rest of the world e-discovery market is expected to grow at a CAGR of 23.2% to reach USD 2.7 billion by 2017.
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This report broadly segments the e-discovery market into software based eDiscovery and services based eDiscovery. The global e-discovery software market was valued at USD 1.1 billion in 2010 and is expected to grow at a CAGR of 11.5% to reach USD 2.5 billion by 2017. The global e-discovery services market is expected to grow at a CAGR of 17.0% from 2011 to 2017.
In the next five years, the e-discovery industry growth will get further support from increasing automatic enterprise information archiving applications, growth in multi-media search for sound and visual data, next generation technology growth for cloud computing i.e. virtualization and increasing involvement of organizations in the social media space.
Browse the full report at http://www.transparencymarketresearch.com/ediscovery-market.html.
This report is an effort to identify factors, which will be the driving force behind the eDiscovery market and sub-markets in the next few years. The report provides extensive analysis of the industry, current market trends, industry drivers and challenges for better understanding of the market structure. The report has segregated the eDiscovery industry in terms of product and geography. We have used a combination of primary and secondary research to arrive at the market estimates, market shares and trends. We have adopted bottom up model to derive market size of the global eDiscovery market and further validated numbers with the key market participants and C-level executives.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1-518-618-1030, [email protected]
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