Global eDiscovery market revenues are expected to witness a year-over-year growth rate of 15.0% in 2016 and reach US$ 8,315.1 Mn in revenues. Rising litigation cases and expanding end-uses of eDiscovery software & services will continue to fuel the adoption globally. North America will continue to account for the highest demand, whereas Europe and Asia Pacific will witness a surge in adoption.
While increasing number of litigations will continue to drive adoption, increased emphasis among end-users on adhering to the ever-evolving compliances will further the growth of the eDiscovery market in 2016. Increasing awareness on the benefits of eDiscovery among organisations in emerging economies will create new growth opportunities for manufacturers.
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The global eDiscovery market can be broadly segmented on the basis of components, software type, end-users, and geography.
By components, services segment holds the majority share of the market, and is expected to grow by 15.4% in 2016 to reach US$ 5,653.2 Mn in revenues. Collection, storing, processing, and reviewing data during litigations and investigations are key eDiscovery services witnessing high demand from end-users.