United States eDiscovery Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 7.1% from 2023 to 2033.
• The United States eDiscovery Market Size is Expected to Hold a Significant Share by 2033.

The United States eDiscovery Market Size is Expected to Hold a significant share by 2033, at a CAGR of 7.1% during the forecast period 2023 to 2033.   

Market Overview

eDiscovery is defined as a set of processes for locating, safeguarding, obtaining, analyzing, reviewing, and producing electronically stored information (ESI). It is widely employed to complete government investigations and in civil or criminal court cases. eDiscovery resources include emails, articles, photos, spreadsheets, voice recordings, internet sites, software, and other types of ESIs. Furthermore, rapid digitization and the growing popularity of Internet of Things (IoT) devices are key factors driving market growth in United States. The extensive use of cloud computing and the Internet of Things has greatly increased the amount of digital data generated, which has raised the need for e-discovery solutions for recovering and retrieving information traces. These systems are also widely used by a variety of government agencies to improve data security, translation, and compliance, all of which have aided in the market's expansion. These days, a significant portion of the litigation is based on electronic data that was obtained through e-discovery solutions. Moreover, Government agencies and laws are focusing more on streamlining their processes and cutting expenses by implementing cutting-edge technologies, which has helped the market expand. The market is anticipated to be further driven by a number of other factors, such as the rise in electronically stored data and the number of felony cases, including tax fraud and money laundering.

Report Coverage

This research report categorizes the market for United States eDiscovery market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States eDiscovery market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the United States eDiscovery market.

Driving Factors

The United States eDiscovery market is expanding rapidly, propelled by several significant factors. Initially the main driver is the growing amount of digital data produced by various industries. Effective eDiscovery solutions are critical as businesses depend more and more on digital channels for communication and document storage. Furthermore, the increase in legal and regulatory requirements highlights how important eDiscovery tools are for effectively organizing and evaluating large datasets. Additionally, the market for eDiscovery is being driven forward by the increasing intricacy of legal proceedings and regulatory adherence. Modern legal cases are complex, so finding pertinent information quickly through large datasets requires sophisticated technology.

Restraining Factors

The United States e-discovery market is severely constrained by the sharp rise in cyberattacks and data breaches in recent years. Most companies are unaware of the issue and have unprotected data, which leaves them open to data loss as a result of careless cyberattack techniques.

Market Segment

• In 2023, the solutions segment accounted for the largest revenue share over the forecast period.

Based on the component, the United States eDiscovery market is segmented into solutions, and services. Among these, the solutions segment has the largest revenue share over the forecast period. The increasing volume of data generated has put more pressure on businesses to use eDiscovery tools. Moreover, the possibility of lawsuits pertaining to eDiscovery compels organizations to employ eDiscovery solutions. Businesses can obtain more accurate and useful data insights from eDiscovery systems with advanced analytical capabilities, especially in the early case appraisal stage. Furthermore, in order to address current systems, eDiscovery providers are creating solutions that are compatible with any IT infrastructure and can interface with a wide range of systems, simplifying, expediting, and lowering the cost of implementation.

• In 2023, the government sector segment accounted for the largest revenue share over the forecast period.

On the basis of end user, the United States eDiscovery market is segmented into government sector, legal, BFSI, energy and utilities, healthcare & life sciences, retail & consumer goods, manufacturing, IT & Telecommunications, others. Among these, the government sector segment has the largest revenue share over the forecast period. Government agencies all across the country have acknowledged the importance of electronic records in various investigations. Various institutions, like the United States Department of Justice's Civil Division, have insisted on the impotence of such computerized documents.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States eDiscovery market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Logik Systems, Inc.
• Deloitte Touché Tohmatsu Limited 
• Microsoft Corporation 
• International Business Machines Corporation 
• CS DISCO Inc.
• KLDiscovery Limited
• Casepoint LLC
• Exterro, Inc
• Knovos
• Nextpoint Inc
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• On March 2023, The AI-powered e-discovery chatbot Cecilia, developed by e-discovery provider DISCO, has been integrated into a few client databases and is now accessible for private access, according to a press release from the company. Cecilia was first introduced by DISCO at Legalweek in New York.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the United States eDiscovery market based on the below-mentioned segments:

United States eDiscovery Market, By Component

• Solutions
• Services

United States eDiscovery Market, By End User

• Government Sector
• Legal
• BFSI
• Energy & Utilities
• Healthcare & Life Sciences
• Retail & Consumer Goods
• Manufacturing
• IT &Telecommunications
• Others