eDiscovery Daily Blog

According to IDC, The Worldwide eDiscovery Market is Already at $10 Billion: eDiscovery Trends

When we covered Rob Robinson’s most recent worldwide eDiscovery software and services “mashup” last year, the total market for both software and services was predicted to reach $10.56 billion by 2019.  According to a newly released study from International Data Corporation (IDC), we’ve surpassed the $10 billion mark already.

In their study released earlier this week, IDC forecasted that worldwide eDiscovery services reached $8.2 billion at the end of 2015. Combined with an eDiscovery software market of just over $2 billion, that would mean that the global eDiscovery market eclipsed the $10 billion threshold last year. IDC also forecasts the total eDiscovery market to grow at a 9.8% compound annual growth rate (CAGR) pushing combined software and services over $14.7 billion by 2019.  How do you like them apples?

Their additional key research findings (as noted in their press release) include:

  • International growth is finally beginning to take off – a bit. The Americas region continues to be (and will continue to be) the largest region; however, both Europe and Asia are seeing an uptick in demand for eDiscovery services. By 2019, Europe is expected to comprise almost 23% of the market and Asia just over 7%.
  • Market consolidation. Service providers and technology solution companies are pairing off at a steady rate. Solution providers continue to buy capabilities as bolt-on functionality for existing products or services in an effort to gain or merely retain market share. This is especially true with regard to analytics companies. Nearly every software and service provider understands that analytics companies pose the largest threat to existing market opportunity.

“eDiscovery services have become an important part of legal and governance workflows for corporations, law firms, and government agencies, globally. The market for services is more than three times the size of the market for eDiscovery software; however, it is important to note that end users want comprehensive, flexible, and secure solutions to meet their ongoing eDiscovery needs, which often means a mix of both software and services,” said Angela Gelnaw, senior research analyst for IDC’s Governance and Security Solutions research program.

The 13 page study, Worldwide eDiscovery Services Forecast 2014 – 2019 presents IDC’s worldwide eDiscovery services market by key market segmentation. A total worldwide forecast and historical sizing are provided, beginning in 2014 and extending through 2019, as well as revenue breakdowns by service category, client type and geographic region. The document also includes an “Advice for Technology Suppliers” section.  You can purchase a copy of the study here.

So, what do you think?  Are you surprised by the growth of the market?  Please share any comments you might have or if you’d like to know more about a particular topic.

Disclaimer: The views represented herein are exclusively the views of the author, and do not necessarily represent the views held by CloudNine. eDiscovery Daily is made available by CloudNine solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Daily should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.