The size of the eDiscovery market has crossed $10 billion — $8.2 billion from eDiscovery services and $2 billion from eDiscovery software – in 2015, said IDC.
The total eDiscovery market is forecast to grow at a 9.8 percent compound annual growth rate (CAGR) pushing combined software and services over $14.7 billion by 2019.
The Americas region will continue to be the largest region for eDiscovery market. Europe and Asia are seeing increase in demand for eDiscovery services. By 2019, Europe is expected to comprise almost 23 percent of the market and Asia just over 7 percent.
The IDC report said litigation, regulation and expanding use cases for eDiscovery software will drive moderate growth in the eDiscovery market. The data solution market is maturing as buyers search for automation to solve well-defined problems.