Nov 01, 2021 (SUPER MARKET RESEARCH via COMTEX) -- According to IMARC Group's latest report, titled "eDiscovery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global eDiscovery market to continue its strong growth during the next five years. eDiscovery is the process of recognizing, collecting, and exhibiting electronically stored information (ESI) used for legal investigations. It includes emails, documents, presentations, databases, voicemails, social media data, and audio and video files for investigation. eDiscovery also includes raw data and metadata used for tracings hidden evidence by forensic investigators. The evidence is then collected and processed using cyber-forensic techniques and is converted into digital formats for demonstration in the court. They identify patterns and conduct analytical research to investigate legal, constitutional, political, and privacy issues.
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Rapid digitization, along with increasing adoption of the Internet of Things (IoT)-enabled devices and cloud computing systems, has significantly augmented the inception of digital data, therefore, elevating the demand for eDiscovery solutions for information access and recovery. Furthermore, these systems are extensively used by various government organizations to enforce compliance, translation, and data security, thereby further escalating the market growth. Legal and government organizations are also focusing on streamlining their operations and minimizing operational costs by adopting advanced technologies, such as eDiscovery. Additionally, rising cases of felonies, such as money laundering and tax fraud, are also subjected to drive the eDiscovery market in the coming year.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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