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Penetrative Coding Technology Adoption Leading to Growth of eDiscovery Market


The global (electronic discovery) eDiscovery market was valued at $8,285.0 million in 2016, and it is expected to grow significantly during the forecast period (2017–2023). eDiscovery refers to the electronic aspect of collecting, identifying, and producing electronically stored information (ESI), when a request for data is made as part of a lawsuit or investigation. The key factors responsible for the growth of the market are the advent of predictive coding, increasing demand for eDiscovery from government agencies, and rapid growth in ESI and social media penetration. 



In terms of industry vertical, the eDiscovery market is categorized into legal, government, healthcare, media & entertainment, energy & utilities, IT & telecom, banking, financial services, and insurance (BFSI), and others. More than 70.0% revenue to the market in 2016 was contributed by the BFSI, government, and legal sectors. The government sector held the largest market share during the historical period (2013–2016) and is predicted to hold its position during the forecast period as well.    

Geographically, North America contributed the largest revenue (nearly 70.0%) to the eDiscovery market in 2016. The region is further projected to stand as the largest market during the forecast period. This is attributed to the increasing usage of eDiscovery components for litigation and investigations over other data solutions by the government and controlling authorities. The fastest growing market during the forecast period, however, would be that of the Asia-Pacific (APAC) region due to the requirement for a judicial framework to manage large volumes of ESI and growing emphasis on digitization.



One of the major factors driving the growth of the eDiscovery market is the advent of predictive coding. It is an algorithm that determines the attributes of the irrelevant and relevant documents during the review of a small subset of documents. The algorithm provides lawyers with expert knowledge of the case through an iterative training process. The smart eDiscovery strategy also offers clients higher review quality, as it includes different reviews by experienced trial lawyers and an automated analysis, which makes predictive coding cost-effective as well as reliable.

Thus, as an ever-increasing amount of data is stored online, the requirement for eDiscovery would further rise across the world.

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