The Booming E-Discovery Market

December 8, 2016

Back on August 4, 2015, I noted that the size of the worldwide electronic discovery services and software market was estimated to be $7 billion by MarketsandMarkets, a prominent market research firm.    It projected that the size of the market would double over the next five years.   A report released by MarketsandMarkets in November 2016, lists the market as currently being $7.89 billion, and is likely to triple to $22.62 billion over the next five years.  


In January 2016, the International Data Corporation put the worldwide electronic discovery market at $10 billion and through it would reach $14.7 billion in the next three years - a slower 9.8% growth rate than that estimated by Marketsand Markets - 23.4% .  IDC sees most of the growth occurring overseas.   In August 2016, Transparency Market Research issued a study projecting 16.20% growth rate between 2014 and 2022. 

 

By any measure, the optimism about growth in the market has increased over the past year.

 

 

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