Global eDiscovery Software Market 2016-2020
About the eDiscovery Software Market
EDiscovery is defined as the process of identifying, collecting, processing, and preserving electronically stored information. This enables organizations to present data in the form of text, images, animations, e-mails, databases, audio files, websites, spreadsheets, and computer programs as evidence in criminal and civil cases to make proper decisions. Governments, regulatory agencies, and enterprises of different sizes increasingly use eDiscovery solutions to enhance internal investigation process. In addition, the growing use of social networking sites such as LinkedIn, Instagram, and Facebook in organizations for marketing purpose is driving the demand for eDiscovery solutions that can run on these portals. Furthermore, the increasing use of smartphones and tablets in organizations is expected to give rise to mobile eDiscovery solutions.
Technavio’s analysts forecast the global ediscovery software market to grow at a CAGR of 17.36% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global ediscovery software market for 2016-2020. To calculate the market size, the report considers revenue generated from the sale of the software. Based on deployment, the software is divided into on-premises and off-premises. While calculating the market size, we have not included the revenue from services. We have also provided the revenue for the total eDiscovery market, which has been divided into:
Technavio Announces the Publication of its Research Report – Global eDiscovery Software Market 2016-2020
Technavio recognizes the following companies as the key players in the global ediscovery software market: FTI Consulting, HP, IBM, kCura, Nuix, and Symantec.
Other Prominent Vendors in the market are: ABBYY, EMC, Exterro, MetricStream, CMO Software, Enablon, Gimmal, OpenText, and Oracle.
Commenting on the report, an analyst from Technavio’s team said: “A trend influencing market growth is the high demand for dynamic document solutions. The increased use of mobile devices and availability of database management software and enterprise content management software have helped organizations create rich content. Nowadays, organizations rely heavily on digital media and increasingly adopt office document solutions that help generate rich media to provide better information and create engaging content. This is causing organizations to shift from static documents to dynamic documents, which are interactive with embedded buttons, calculations, links, and content such as images, videos, illustrations, web pages, and forms.”
According to the report, a key growth driver is the increased volume of electronic data. Enterprises generate data from various sources such as enterprise applications, social networks, web-based searches, and cloud-based applications. It is practically impossible for big organizations to analyze large volumes of data on a daily basis without using advanced technology. With the huge volume of data at hand, organizations are looking to make the best use of raw data and convert them into useful information to help in their decision-making process.
Further, the report states that one challenge that could impact market growth is the lack of skilled employees.
FTI Consulting, HP, IBM, kCura, Nuix, Symantec, ABBYY, EMC, Exterro, MetricStream, CMO Software, Enablon, Gimmal, OpenText, Oracle.
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