Global E-discovery Software Market Overview:
E-discovery refers to the electronic aspect of identifying, collecting, and producing information that is electronically stored in response for production in a lawsuit or investigation. E-discovery is subject to rules of civil procedures and agreed-upon processes. Electronic information can be accompanied by metadata which can play a crucial part as evidence in legal proceedings. As the volume of data produced and stored is immense the processes and technologies for e-discovery are complex. E-discovery software allows legal professionals like advocates to review, process, tag, and produce electronic documents as a part of an investigation of a lawsuit. It aims to help attorneys discover valuable information regarding a matter while reducing costs, and mitigating risks.
- Increasing Demand for Automation to Review and Produce Documents
- Growing Demand of Software to Increase Efficiency of Legal Teams
- Reduced Number of Documents Requiring Eyes-On Review Due to E-Discovery Software
- Increasing use of E-Discovery Software by Corporates
- Growing Demand of E-Discovery Software with Easy Deployment Method
- Concerns About Information Spillage in E-Discovery Software
- Increasing Importance of E-Discovery Due to Increase of Computer-Generated Content
- Bugs and Glitches in Making of Software
E-Discovery is one of the primary forms of investigation in the legal world. With an increasing number of electronic documents, the demand for r-discovery software is also rising. In this market, there are many players competing for the same set of customers with a similar set of features. In this case, the reputation of the software provider is essential. In this market, new entrants should differentiate their products by marking and endorsements. Timely updates and after-sales service is also a key thing in this market.
Some of the key players profiled in the report are Micro Focus (United Kingdom), IBM (United States), Microsoft (United States), FTI Consulting, Inc. (United States), Logikcull (United States), Sightline (United States), Nextpoint (United States), Relativity (United States), CloudNine Discovery (United States), Sherpa Software (United States), Everlaw (United States), Lexbe (United States), Reveal (United States) and CaseFleet (United States). Considering Market by Pricing, the sub-segment i.e. Per GB Payment will boost the E-discovery Software market. Considering Market by Deployment, the sub-segment i.e. On-Premise will boost the E-discovery Software market. Considering Market by Features, the sub-segment i.e. Data Processing will boost the E-discovery Software market.
In March 2021, Private Equity Firm, Silver Lake announced that they will make a strategic growth investment in Chicago-based E-Discovery software company, Relativity to help them to accelerate the adoption of their technology in commercial and government organizations. According to Relativity, they seek to grow their network and client base while driving sales of its AI-powered Trans communication platform. As per the agreement between them, Silver Lake representatives will join Relativity’s board of directors.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global E-discovery Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in E-discovery Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, E-Discovery Software Providers, Government Regulatory and Research Organizations, End-Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.