As litigation increases, and e-discovery technology improves and becomes more integrated into the legal world, the e-discovery market will continue to grow exponentially. A recent report titled “E-discovery Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2022″ revealed that the global e-discovery market is exhibiting a 16.2 percent compound annual growth rate (CAGR) between 2014 and 2022.
The report, released by Transparency Market Research, said the market is expected to grow from US$5.5 billion in 2013 to $21.89 billion by 2022. Growing data volumes create challenges for legal and IT departments in efficiently handling and managing data for use in investigations, creating the need for e-discovery software and services within organizations of all sizes.
