The annual eDiscovery Market Size Mashup estimates the combined worldwide eDiscovery software and services market spend in 2018 to be approximately $10.11B, growing at a Compound Annual Growth Rate (CAGR) of approximately 13.09% to $18.7B by 2023.
A working knowledge of electronically stored information (ESI) is foundational for effective, efficient, and comprehensive planning and execution of all electronic discovery tasks. This short, non-all inclusive overview highlights key definitions, descriptions, and attributes related to ESI and may be beneficial for legal and information technology professionals as they consider ESI in the conduct of data and legal discovery.
Balancing the business drivers of cost, time, and complexity in the conduct of electronic discovery continues to be one of the greatest challenges faced by legal professionals today.
While an understanding of decisions from definitions and elements to cornerstones and classifications is important, ultimately, for any decision to be optimally implemented, it is important to give those who have decision making accountability and responsibility the authority and control to make decisions.
A non-comprehensive graphical depiction that may be helpful in considering and connecting the dots during planning, forecasting, and sharing activities regarding the discipline of eDiscovery.
Taken from a combination of public market sizing estimations as shared in leading electronic discovery reports, publications and posts over time, the following eDiscovery Market Size Mashup shares general worldwide market sizing considerations for software and services in the electronic discovery market for the years between 2017 and 2022.
In navigating the glittering generalities presented by individuals and organizations seeking to influence eDiscovery software selection decisions, remember that there may be many right choices for your specific needs. Considering those choices through the lens of security, capability, complexity, and cost may help ensure that you not only make the right choice but make the best choice for your needs.
Packaged services may help legal technology providers bridge the gap between traditional hourly consulting offerings and fully managed services. They may also provide a strong opportunity to create additional sales entry points and potential new revenue streams by making access to current consulting offerings easier to understand, easier to evaluate, and easier to purchase.
An abridged look at the business of eDiscovery investments through the lens of organizations that have funded eDiscovery-related companies between 2009 and today.
The presented listing highlights key industry business moves by sharing the announcement date, acquired company, acquiring or investing company, and acquisition amount (if known) of significant eDiscovery-related mergers, acquisitions, and investments.