Showing posts with label eDiscovery Market Forecast. Show all posts
Showing posts with label eDiscovery Market Forecast. Show all posts

How is Increasing Amount of Electronically Stored Information Driving Demand for eDiscovery?

The volume of electronically stored information (ESI) is predicted to witness a growth of about 65.0%–70.0% per year in large organizations. This would be due to the increasing use of social media and advanced data repositories such as tablets and smartphones within organizations’ ecosystem. Several businesses are accepting social media platforms for engaging directly with their customers. This is leading to the increasing volume of data online, which can be usable in litigation.

ediscovery market overview
http://bit.ly/2qXj5tT


When a request is made for data production in a lawsuit or investigation, eDiscovery solutions help in collecting, identifying, and producing the ESI. Emails, presentations, databases, audio and video files, websites, social media, documents, and voicemails are all included in ESI. In 2016, the eDiscovery market valued $8,285.0 million and is expected to witness a double-digit growth in the near future. Geographically, North America contributed about 70.0% share to the market in 2016. This was due to the stringent policies and compliance regulations in Canada and the U.S. Furthermore, the enforcement of antitrust law due to the political changes and technological advancements in the U.S. is responsible for the increasing requirement for eDiscovery solutions.

On the industry front, the government sector has been the largest user of such solutions, which is a major driver for the eDiscovery market growth. The governments and their adjacent industries deal with large volumes of commercial and citizen data, and the rapid growth of the digital age and technology transformations are resulting in the rising demand for secure storage of critical information.


The emergence of predictive coding is another breakthrough that is leading to the growing demand for eDiscovery solutions. This technology is a cultured statistical algorithm that categorizes the attributes of irrelevant and relevant documents, when a review is being conducted of a small subset of documents. Predictive coding provides a lawyer with the expert knowledge of a case through an iterative training process. The system refines the traits of relevant vs irrelevant documents until the system itself can determine no more continued training; this is done in accordance with the designation of the lawyer. This strategy provides clients with the best possible value through the delivery of a higher review quality under a low-cost framework. To make use of this technology, the requirement for the eDiscovery is growing among lawyers. 

Get More Information Visit: P&S Intelligence
Share:

Popular Posts