The size of the eDiscovery market was $10,542.4 million in 2021, and it will grow at a rate of 8.6% by the end of this decade, to reach $22,089.3 million by 2030, according to a report published by PS Intelligence.

The growth of the industry has a lot to do with to the increasing emphasis on the preservation of metadata from electronic documents, the snowballing acceptance of digital technologies, and the increasing electronic data volumes in the companies all over the world.

The large enterprises will record a higher growth rate of, about 10%, in the years to come. This growth has a lot to do with the increased acceptance of regulatory and tech changes by large corporations, they have enormous corporate networks and numerous revenue streams, and their massive investments in tools for helping them securing and managing critical info.

Also, the SMEs category will also register a significant growth in the years to come. This can be since SMEs are progressively accepting e-discovery solutions, so as to meet regulatory necessities and advance their risk and compliance programs.

Cloud-based eDiscovery software had the larger revenue share as it helps in saving the cost, offers robust safety, has immeasurable scalability, and it removes physical barriers.

Further, the key players of the industry are accepting cloud-based software to improve internet proficiency and upgrade communication technologies.

The early case assessment category will grow significantly in the future. This can be due to this type of solution helps in digital discovery for investigative and legal matters, can be simply incorporated with the existing infra and also be organized on the cloud, and plays significant role in the decrease of data volume so as to save money and time.

The appearance of innovative and new tools has been transforming the entire procedure of e-discovery review in the recent past. The tools depend on on a predictive coding, a cultured statistical algorithm that categorizes the characteristics of relevant and irrelevant credentials, throughout the review of a small subset of docs.

North America dominated the eDiscovery market, and it will be like this in the coming years as well, with a value of over $9 billion by 2030. This has a lot to do with the increasing acceptance of cloud computing solutions and digital forensics in the region.

APAC will witness substantial development in the years to come. This is because of the increasing use of IT solutions, the existence of China and India focusing on enhancing productivity and maintaining negligeable cost for the fortification of private figures and facts, and the increase in legal and governing expenses across numerous companies.

It is because of the increasing acceptance of digital technologies. The demand for eDiscovery solutions is on the rise, all over the world.