The most popular and comprehensive Open Source ECM platform
Let us know more
eDiscovery: Exact Size Unknown, but a Big Market Growing Quickly
Last year the global eDiscovery market grew to $1.8 billion, according to Gartner. That represents 10 percent growth from the previous year. Over the next five years, Gartner expects eDiscovery to grow at an average rate of about 12 percent annually.
The eDiscovery market represents a complicated blend of enterprise search, records management, regulatory compliance, and litigation. It’s hard to come up with a good number on what the actual size of the market it, and the estimates of market size are all over the map, partly because of the definition of exactly what eDiscovery encompasses and assumptions about how the software is being used.
For example, Gartner’s estimates contrast with competing estimates from other analyst firms. Markets and Markets estimates eDiscovery software and services in 2014 was $7 billion and is expected to reach $14.26 billion in 2020.
Transparency Market Research estimated that the global eDiscovery market was $5.5 billion in 2013, is growing at a rate of 16 percent annually, and will reach $21 billion in 2022.
Robert Hilson estimates that the eDiscovery market in the US alone, when also including preservation costs, is closer to $41.2 billion.
That’s a pretty big range of numbers. In any event, the eDiscovery market seems to be big and growing quickly.
