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E-Discovery Market Projected to Hit USD 24 Billion at a 8.50% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, March 14, 2023 (GLOBE NEWSWIRE) — Market Analysis

According to a comprehensive research report by Market Research Future (MRFR), “E-Discovery Market Research By Solution, By Deployment, By Service, By Vertical- Forecast 2030”. Valuation is poised to reach USD 24 Billion by 2030, registering a 8.50% CAGR throughout the forecast period (2021–2030).

E-discovery is essentially a legal procedure when material is sought in an electronic format and legal issues including identification, review, litigation, analysis, and preservation are involved. It can also be described as a procedure for creating, gathering, and recognising electronically stored information (ESI). The report claims that because so much electronic data is produced and stored, e-discovery technologies and procedures are challenging.

The ratio of older consumers and the volume of electronically stored data are two factors driving the growth of the worldwide e-discovery industry. Along with these, other significant factors that are fostering the global e-discovery market’s expansion include the rise in litigation around the world, the emphasis on proactive governance through data analytics, and the publication of new content sources. Due to the low maintenance costs associated with producing data and documents globally, firms all over the world are depending on electronic information and data constitute, which has led to a faster expansion for the global e-discovery industry. Electronic discovery (e-discovery) systems are being used to manage all of these data.

The key element fueling the expansion of the global e-discovery market is the increase in the adoption of digital technologies worldwide. Due to the rapid exponential growth of data over the past ten years, businesses across all industries have been completely destroyed.

Due to the rise in population, the data is growing quickly from the previous several years. By the end of 2020, it is anticipated that the total amount of data in the globe will have increased to over 44 zettabytes, with nearly 90% of the data currently in existence having been created in the last few years.

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E-Discovery Market Key Players

Eminent industry players profiled in the e-discovery market report include: 

  • IBM Corporation (U.S.)
  • FTI Technology LLC (U.S.)
  • Kcura LLC (U.S.)
  • Zylab Technologies (U.S.)
  • Xerox Corporation (U.S.)
  • Hewlett Packard Enterprise (U.S.)
  • Logik (U.S.)
  • Lexbe (U.S.)
  • Ernst & Young Global Limited (U.K.)
  • Navigant Consulting (U.S.)

Browse In-depth Market Research Report (100 Pages) on E-Discovery Market:

https://www.marketresearchfuture.com/reports/e-discovery-market-3321   

Opportunities

Therefore, embedding analytics and artificial intelligence with e-discovery are likely to provide various opportunities for key vendors who are operating in the e-discovery market sales.

Segmentation analysis:

The solution, deployment, service, vertical, and region market segments for e-discovery are listed below.

The worldwide e-discovery market has been divided into five solution-based categories: Legal Hold, Early Case Assessment, Data Processing, Technology-Assisted Review, and Data Production. According to the solution category, technology-assisted review and data generation holds the largest market share for e-discovery thanks to the cost-effective administration of a significant number of documents.

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The worldwide e-discovery market has been divided into cloud and on-premises deployment segments.

According to the deployment segment, cloud services are anticipated to hold the largest market share in the worldwide e-discovery market because of the rise in civil litigation and criminal investigations, which are seriously disrupting business operations.

The market is segmented into Consultation, Implementation, and Training and Support on the basis of services.

The government, legal sector, BFSI, energy and utilities, healthcare, travel, hospitality, transportation and logistics, IT and telecommunication, media and entertainment, and others make up the vertical segments of the global e-discovery market.

COVID-19 Analysis 

Early in 2020, the covid 19 epidemic caused global commercial and economic conditions to alter. E-discovery experts are primarily concerned with creating choices that will enable the handling, gathering, and reviewing of ESI while also taking future business changes into account. The most frequently brought up subject of conversation is e-discovery solutions among legal, business, and IT experts who execute and plan the process of data collection during this epidemic.

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Regional Insights

The Asia Pacific, North America, Europe, and the rest of the globe regions make up the segments of the global e-discovery market. A large portion of the e-discovery market share is expected to come from the North American area, as cloud solutions are widely used in Canada and the US. Due to rising crime rates, the region’s industrialization, and the region’s large ICT infrastructure in growing nations like China and India, the Asia Pacific region is anticipated to have significant growth with the greatest CAGR.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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Artificial Intelligence

ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Artificial Intelligence

Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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