Although December 4th is recognized as the official eDiscovery day, we think it’s worth celebrating every day and here’s why. This year’s annual eDiscovery Market Size Mashup estimates the combined worldwide eDiscovery software and services market spend in 2019 to be approximately $11.23B, growing at a Compound Annual Growth Rate (CAGR) of approximately 12.93% to $20.63B by 2024. Here are a few factors we believe that are contributing to the growth of eDiscovery over the next few years:
- A reduction of operational budgets within legal departments coupled with an increase in litigation.
- The need to adhere to regulatory policies and laws worldwide.
- The increase in the usage of mobile devices.
- The rise in demand for predictive coding and increase in the usage of social media are expected to offer great opportunities for eDiscovery vendors.
We have outlined the major market points, derived from various sources, in an easy-to-follow infographic to highlight market size and trends.
As you can see, eDiscovery is a growing market filled with interesting career opportunities no matter where you are in your career. Ready to take the plunge? At Celeritas Recruiting, we have decades of experience working with the top eDiscovery providers, software companies, law firms, corporate legal departments and consultancies globally. We always have great eDiscovery openings which is why we just don’t celebrate on December 4th...we’ve made it our mission to celebrate it every day!