What goes better with turkey and dressing than a heaping helping of the 2022 eDiscovery Market Size Mashup from Rob Robinson and ComplexDiscovery?
Rob released the 2022 eDiscovery Market Size Mashup – also known as the worldwide eDiscovery services and software overview for 2022 to 2027 – this Sunday! Something to be thankful for!
This is the eleventh(!) year I’ve covered the “mashup” (and the third year on eDiscovery Today). Taken from a combination of public market sizing estimations as shared in leading electronic discovery publications, posts, data points and discussions (sources listed on Complex Discovery), the 2022 eDiscovery Market Size Mashup shares general market sizing estimates for the software and services area of the electronic discovery market for the years between 2022 and 2027.
Here are some highlights (based on the estimates from the compiled sources on Rob’s site):
- The eDiscovery Software and Services market is expected to grow an estimated 9.69% Compound Annual Growth Rate (CAGR) per year from 2022 to 2027 from $14.05 billion to $22.31 billion per year. Services will comprise approximately 61% of the market and software will comprise approximately 39% by 2026. The $14.05 billion for 2022 represents a growth of $0.95 billion over 2021.
- The eDiscovery Software market is expected to grow at an estimated 12.72% CAGR per year from $4.78 billion in 2022 to $8.70 billion in 2027. By 2027, approximately 73% of the eDiscovery software market is expected to be “off-premise” – a.k.a. cloud and other Software-as-a-Service (SaaS)/Platform-as-a-Service (PaaS)/Infrastructure-as-a-Service (IaaS) solutions.
- The eDiscovery Services market is expected to grow at an estimated 7.98% CAGR per year from 2022 to 2027 from $9.27 billion to $13.61 billion per year.
- The breakdown of the eDiscovery market by 2027 is expected to be as follows: 61% review ($13.61 billion), 20% processing ($4.46 billion) and 19% collection ($4.24 billion).
A couple of other notable stats:
- The U.S. constitutes approximately 62% of worldwide eDiscovery software and services spending in 2022, with that number decreasing to approximately 57% by 2027.
- Governmental and Regulatory spending on eDiscovery (audits, investigations, and litigation) is estimated to constitute approximately 45% of worldwide eDiscovery software and services spending in 2022, with that number decreasing to approximately 41% by 2027.
There are a lot more stats, so check out Rob’s 2022 eDiscovery Market Mashup here! You can even go back for an extra helping! 😉
So, what do you think of the 2022 eDiscovery Market Mashup? Do any of these numbers surprise you? Please share any comments you might have or if you’d like to know more about a particular topic.
Disclaimer: The views represented herein are exclusively the views of the authors and speakers themselves, and do not necessarily represent the views held by my employer, my partners or my clients. eDiscovery Today is made available solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Today should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.