The market for electronic discovery software is volatile and over crowded, with new vendors entering as others merge. Nevertheless, Gartner considers the market mature enough to warrant the first Magic Quadrant analyzing 24 of its vendors.
WHAT YOU NEED TO KNOW
The electronic discovery (e-discovery) software market presents something of a paradox. A business imperative drives demand for this software, yet the profession demanding it is often slow to understand and adopt technology. Purchasing decisions frequently reflect long-standing trusted relationships, which means that even a small book of business can be profitable to providers and the effects of customary market forces are muted. This situation is changing, however, because the amount of data subject to discovery is ballooning as enterprises adopt new social media and cloud technologies.
The e-discovery software market is entering a phase of high growth,increasing maturity and inevitable consolidation. Nevertheless, new players are still entering the market to capitalize on the growing opportunities, and existing vendors in adjacent spaces are adding functionality to their offerings.
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