Emergence of Cloud Services to Help Off-Premise eDiscovery Software Consolidate Position in Global e
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eDiscovery refers to the retrieval of electronically-stored information (ESI) for legal or other purposes. The growth in the volume of electronically-stored information has led to growth of the market for eDiscovery. The need to manage and organize large volume of ESI has also given rise to the eDiscovery market. The rise of social media such as Facebook and Instagram is further contributing to the increase in the volume of ESI, leading to growing demand for eDiscovery services.
According to a recent publication from leading U.S.-based market intelligence firm Transparency Market Research, the global eDiscovery market was worth US$5,563.7 million in 2013. Growing at a stellar 16.2% CAGR, the market is expected to close to quadruple in value by 2022, to be valued at US$21,089 million.
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