What is eDiscovery Software Market Scope?
eDiscovery software allows legal professionals to process, review, tag, and produce electronic documents as part of a lawsuit or investigation. The right software can help attorneys discover valuable information regarding a matter while reducing costs, speeding up resolutions, and mitigating risks.In the legal system, discovery is the legal process governing the right to obtain and the obligation to produce non-privileged matter relevant to any partyís claims or defenses in litigation. eDiscovery is that process applied to electronically stored information (ESI), such as emails, computer files, and databases. In other words, it is the legal procedure by which parties are required to exchange information and evidence with one another in state and federal courts.
The eDiscovery Software market study is being classified by Type (Disputes and Investigations), by Application (BFSI, Healthcare, Energy & Utilities, Travel & Hospitality, Government & Legal Sectors, IT & Telecom and Other) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global eDiscovery Software market throughout the predicted period.
FTI Consulting (United States), HP (United States), IBM(United States), Oracle(United States), Nuix(United States), Symantec (Bangladesh), ABBYY (United States), EMC (United States), Exterro(United States) and MetricStream(United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are CMO Software (United Kingdom), Enablon(United States), Gimmal(United States) and OpenText (Canada).
Analyst at AMA have segmented the market study of Global eDiscovery Software market by Type, Application and Region.
On the basis of geography, the market of eDiscovery Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In December 2020 Exterro United States-based company the preferred provider of Legal GRC software and the Association of Corporate Counselís exclusive Alliance Partner for E-Discovery. The company has announced its acquisition with AccessData to Form the Leading Enterprise Legal GRC Software Platform across Data Privacy, Forensics and e-Discovery
In January 2020 Conduent United States Based company has launched its new enhanced software named Viewpoint(TM) eDiscovery Software with Continuous Active Learning Capabilities. This will help Enhancements Improve Document Review Efficiency and Quality Time Savings Allows for Greater Focus on Case Strategy Conduent to Exhibit New Capabilities at Legaltech, moreover, it also allows allow discovery practitioners to more quickly identify relevant information to develop a legal strategy that benefits their clients.
Influencing Market Trend
- Higher Demand for Cloud-Based E-Discovery Software Among SMEs
- Focus on Proactive Governance With Data Analytics and the Emergence of New Content Sources
- Growth in Compliance Requirements and Data Protection Regulations
- Increased Demand for Predictive Coding to Simplify and Shorten Document Review Process
- Higher Cost of eDiscovery Platforms and Services
- Contradiction Between Data Protection and eDiscovery
- Lack of Technical Expertise for Managing the Advanced eDiscovery Mechanism
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, eDiscovery Software Developer, Government Regulatory and Research Organizations and End-Use Industry
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