Ediscovery Statistics 2023: Facts about Ediscovery outlines the context of what’s happening in the tech world.
LLCBuddy editorial team did hours of research, collected all important statistics on Ediscovery, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂
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On this page, you’ll learn about the following:
Top Ediscovery Statistics 2023☰ Use “CTRL+F” to quickly find statistics. There are total 20 Ediscovery Statistics on this page 🙂
Ediscovery “Latest” Statistics
- In 2012, the market for eDiscovery services and software as a whole was expected to be worth $4.73 billion. In 2019, the market for eDiscovery services and software as a whole was predicted to be worth $11.23 billion.
- According to estimates, non government expenditure on eDiscovery will account for over 54% of global spending on eDiscovery software and services in 2021, rising to nearly 59% by 2026.
- Spending on collection-related software and services is estimated to constitute approximately 14% ($1.83B) of worldwide eDiscovery software and services spending in 2021, with that number increasing to approximately 19% ($3.59B) by 2026.
- The market for eDiscovery software and services is projected to spend about $13.1 billion in 2021 and increase at a CAGR of almost 7.60% to $18.89 billion in 2026.
- Due to the upsurge, it is predicted that around $13.1 billion for 2021 were spent on eDiscovery software and services globally.
- The predicted global expenditure for eDiscovery services is around $8.78 billion in 2021, or 67% of the whole market, and is projected to increase at a CAGR of roughly 5.93% to $11.71 billion, or 62% of the total market, by 2026.
- 73% of attendees have used predictive coding related technologies at least a few times, which is much higher than the norm for the legal sector but not a big surprise at a conference with so many legal technology experts.
- At least 58% of the audience had at least sometimes utilized eDiscovery technology for situations that did not include claims or disputes.
- The courts and the legal community have been embracing or at least allowing the use of technology that have the advantage of eliminating 10% human review of a corpus for some time now.
- Being in the position allows to have a bird’s eye perspective of eDiscovery sector, which is presently worth $10 billion worldwide and is expected to expand at a CAGR of 6-9% through 2025.
- According to Rand Corporation, document review costs 73% of all eDiscovery costs, and tar clearly helps with time and cost savings without sacrificing quality.
- The worldwide eDiscovery market size share will reach $24.12 billion by 2026, predicts the Facts & Factors research.
- An estimate, from the of Minnesota Journal Law, Science & Technology, puts that number closer to $1.3 million, with 94% of costs going to document review and processing, and a mere 6% earmarked for collection and production combined.
- In 2012, a Rand study estimated that each gigabyte costs $18,000 to produce, with up to 70% of costs going to documents, which would put the average case-cost around $2.3 million.
- According to an estimate by the American Bar Association, document review alone accounts for more than 80% of the $42.1 billion in annual litigation costs, and as data quantities grow, that percentage will only rise.
- PricewaterhouseCoopers estimates that by 2030, AI will contribute about $15.7 trillion to the global economy.
- According to an IBM poll, the COVID-19 epidemic has expedited digital transformation in 59% of firms, and 66% of those organizations have been successful in overcoming prior difficulties.
- Data breaches and cyberattacks have significantly grown in frequency in recent years; from 2016 to 2017, cyberattack incidents rose by 60%.
- In a statement, Microsoft, under the direction of Satya Nadella, claimed that 92% of the servers had the attack fixed and neutralized.
- According to projections, the eDiscovery market would increase from $11.2 billion in 2022 to $17.1 billion by 2027, with a forecasted CAGR of 8.7%.
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- complexdiscovery – https://complexdiscovery.com/ediscovery-market-size-mashup-2021-2026-worldwide-software-and-services-overview-2021-2026/
- ediscoverytoday – https://ediscoverytoday.com/2020/08/31/here-are-some-disruptive-stats-in-discovery-ediscovery-trends/
- edrm – https://edrm.net/resources/project-guides/edrm-statistical-sampling-applied-to-electronic-discovery/
- ey – https://www.ey.com/en_in/forensic-integrity-services/top-five-ediscovery-trends-in-2021
- knovos – https://www.knovos.com/5-undeniable-facts-about-ediscovery/
- logikcull – https://www.logikcull.com/blog/ediscovery-opportunity-costs-infographic
- marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/e-discovery-market-11881863.html