Based on the complexity of data and legal discovery, it is a continual challenge to fully understand what is representative of industry-standard pricing for the delivery of eDiscovery products and services. With this challenge in mind, the semi-annual eDiscovery Pricing Survey is designed to provide insight into eDiscovery pricing through the lens of 12 specific pricing questions answered by legal, business, and information technology professionals operating in the eDiscovery ecosystem.
As part of its coverage of the business of eDiscovery, ComplexDiscovery regularly reports on key business spheres of interest including business confidence, pricing, predictive coding technologies, market size, and investment activities. Provided for your reference are selected report descriptions and links to core reports published during the last year by ComplexDiscovery relating to key eDiscovery business spheres of interest.
X-Road® implements a set of standard features to support and facilitate data exchange and ensures confidentiality, integrity, and interoperability between data exchange parties. Recently the Nordic Institute for Interoperability Solutions (NIIS) highlighted the alignment of X-Road with the Digital Public Goods Standard, a set of specifications and guidelines designed to maximize consensus about whether something conforms to the definition of digital public goods laid out by the UN Secretary General.
From market sizing and cyber law to industry investments and customer considerations, the November 2020 edition of the Five Great Reads on eDiscovery newsletter provides a selection of recent research, reports, and articles to update and inform legal, business, and information technology professionals in the eDiscovery ecosystem.
There are many excellent resources for considering chronological and historiographical approaches to framing the eDiscovery market. This updated approach to framing eDiscovery market growth has been developed around six eras of eDiscovery and is only one of many ways to reflect on market growth over time. It is highlighted to serve as a potential starting point and a stimulus point for thoughtful research, descriptions, and discussions around this established segment of the legal technology market.
According to Ziad Mantoura, SVP and General Manager for Epiq’s legal transformation services business, “The recent pace of legal industry change has acutely accelerated the need for law departments and firms to be run like a business, including the need to embrace digital transformation. Hyperion has a team of expert consultants and a heritage of guiding clients to make intelligent, fact-based decisions to transform their businesses. Joining forces with this team and its impressive market intelligence capabilities adds considerable depth to the solutions we offer our clients as we help guide their digital transformation.”
According to the media release, Tim Estes, Founder and CEO of Digital Reasoning, said, “In this new world of remote work, a company’s digital communications infrastructure is now the most essential one for it to function and thrive. Smarsh and Digital Reasoning provide the only validated and complete solution for companies to understand what is being said in any digital channel and in any language. This enables them to quickly identify things like fraud, racism, discrimination, sexual harassment, and other misconduct that can create substantial compliance risk.”
While the Compound Annual Growth Rate (CAGR) for worldwide eDiscovery software and services slows, the overall size of the market continues to grow with estimates for the overall market to exceed $15.12B in 2025. This year’s annual eDiscovery Market Size Mashup estimates the combined worldwide eDiscovery software and services market spend in 2020 to be approximately $10.89, growing at a CAGR of approximately 6.79% to $15.12B by 2025.
Given the chilling effect of COVID on the business of eDiscovery, many individuals and organizations are interested in the impact of current pandemeconomic conditions on essential audit, investigation, and litigation drivers for legal discovery. One of those drivers is the need for eDiscovery support in FTC and DOJ Second Request investigations. As Second Requests are driven from HSR Act mandated merger transaction reviews, the following HSR Act filing information and comparisons may be helpful for understanding current trends and potential trajectories driving the need for Second Requests.
As a leader in remote legal document review, HaystackID provides clients with instant access to more than 20,000 certified review attorneys who are available for selection and integration into its remote managed review teams through its ReviewRight Match and Virtual offerings. The potential pool of virtual reviewers, the streamlined manner in which reviewers are onboarded for remote review, and the established base of current reviewers with ReviewRight Virtual (secure remote review) experience, allows HaystackID to help those in the eDiscovery ecosystem maintain review continuity without sacrificing quality or increasing review costs during these COVID-constrained times.