E-DISCOVERY MARKET ANALYSIS

Market Challenges And Opportunities

Increasing generation of ESI data is one of the major factors driving growth of the market

The increasing volume of ESI (Electronically Stored Information) data is one of the major factors driving growth of the market. Organizations are generating ESI data in  the form of e-mails, instant messages, word processing documents, spreadsheets, shared drive data, business applications data, voice data, media files, voice recordings, data on cloud, and virtual environment among others unstructured data. For instance, according to International Data Group, unstructured data is growing at the rate of 62% per year and 93% of all data is expected to be unstructured by 2022. This growth is expected due to increasing number of organisations generating, creating, storing, and transferring data throughout the organization electronically. This in turn, is expected to increase the demand for e-Discovery solutions to help organizations meet regulatory requirements, meet records retention obligations, prepare and respond to litigations, and investigate into policy violations. This is thus expected to boost growth of the e-Discovery market.

Lack of awareness about e-Discovery is one of the major challenges hampering growth of the market

Lack of awareness about e-Discovery software and solutions is one of the major factors hampering growth of the market. Organizations face problems while resolving legal cases and implementing any new law in the organisation, due to lack of awareness regarding e-Discovery.