The global growth of the eDiscovery market
The global eDiscovery market is forecast to rise from $6,000 million in 2016 to $13,000 million by 2023. Law firms across the world are therefore increasingly looking to develop their eDiscovery services to retain their competitive edge in this market and provide a valuable service to win and retain clients.
The ‘Global eDiscovery Market Analysis and Forecast to 2023’ by Research and Markets attributes this growth to several factors. Firstly to the rise of electronically stored information (ESI) and the increase in the number of litigation cases. Secondly, the researchers cite the continuous drive to bring down the functional costs of legal departments, the necessity to comply with rules and regulations and the increased usage of mobile devices.
Although North America accounts for 65 per cent of the global eDiscovery revenue in 2016, other geographical areas are predicted to experience increased growth in coming years. In the UK, eDiscovery is comparatively well-developed compared to other parts of the world, with many now working with established eDiscovery providers to deliver a seamless, professional and cost-effective service to their clients.
This trend is due largely to the significant cost of purchasing an eDiscovery platform and the vast technological and forensic resource required to deliver the service in-house. A managed eDiscovery service combines the technical skills and experience of a specialist team working in partnership with the legal team. In addition to providing the tools required to discover relevant ESI, a full eDiscovery Managed Service provides the expertise to manage all elements of the process, including case management, all pre-processing, searching and filtering data for relevance, the redaction of files and the reduction of the sheer volume of data which meets the ultimate test of court acceptance.
SRM first began developing its eDiscovery service in 2002 and its team includes experts drawn from law enforcement, government agencies and military with over 60 years’ combined experience. The team has delivered thousands of cases supporting law firms, government agencies and commercial organisations in the accurate production of case papers and reports to be tendered in court. Through SRM’s managed service, law firms benefit from working with this reputable team while also having affordable access to Relativity, the market leading eDiscovery review and collaboration platform.
For a free demonstration and introduction to the SRM eDiscovery Managed Service please contact Mark Nordstrom at SRM: firstname.lastname@example.org or telephone 03450 21 21 51.
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