eDiscovery market to hit $US9.9b in 2017: Analyst

According to a new market report published by Transparency Market Research,  the global e-discovery market was worth $US3.6 billion in 2010 and is expected to reach $US9.9 billion in 2017. In the overall global market, the US is expected to maintain its lead position in terms of revenue with 73% of global e-discovery market share in 2017.

Key factors driving the global e-discovery market include increasing adoption of predictive coding, growing risk mitigation activities in organisations, increase in criminal prosecutions and civil litigation and growth of record management across various industries.

In the next five years, the e-discovery industry growth will get further support from increasing automatic enterprise information archiving applications, growth in multi-media search for sound and visual data, next generation technology growth for cloud computing i.e. virtualisation and increasing involvement of organisations in the social media space.