The report forecasts the global ediscovery software market to grow at a CAGR of 17.36% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend influencing market growth is the high demand for dynamic document solutions. Nowadays, organizations rely heavily on digital media and increasingly adopt office document solutions that help generate rich media to provide better information and create engaging content. This is causing organizations to shift from static documents to dynamic documents, which are interactive with embedded buttons, calculations, links, and content such as images, videos, illustrations, web pages, and forms.
According to the report, a key growth driver is the increased volume of electronic data. Enterprises generate data from various sources such as enterprise applications, social networks, web-based searches, and cloud-based applications. It is practically impossible for big organizations to analyze large volumes of data on a daily basis without using advanced technology. With the huge volume of data at hand, organizations are looking to make the best use of raw data and convert them into useful information to help in their decision-making process.
Further, the report states that one challenge that could impact market growth is the lack of skilled employees.