e-Discovery Consulting Services in the US Industry Market Research Report Now Available from IBISWorld

Los Angeles, CA (PRWEB) January 17, 2012

As the amount of electronically stored information (ESI) continues to grow, e-discovery will become an increasingly important part of the legal process, according to IBISWorld industry analyst Nikoleta Panteva. Consulting services are also a vital part of the move to e-discovery. “As the economy improves, law firms will be more willing to spend money on outsourced consulting services. IBISWorld forecasts that the law firms industry worth $ 281 billion in 2012 will grow by an average 2.8% per year to 2016. Demand for outsourced services is particularly important as staffing cutbacks during the recession will have a negative short-term effect on productivity as the economy improves.” With economic recovery, corporate profit is slated to grow at a robust average annual rate of 7.3% over the five years to 2016. As increasing litigation rates and demand for corporate law looms around the corner, firms that laid off too many employees will find it hard to compete against those who have strategically positioned themselves for tomorrow’s market.

Coupled with the ever-increasing amount of ESI and growing demand from the legal market, IBISWorld anticipates that e-Discovery Consulting Services industry revenue at expand at more than double the rate of overall economic growth. The type of data scoured and the expanding sources through which it is retrieved will help strengthen product development. Corporations already cite social networks as a significant source of information, and the growing influence of social websites within the work environment will spur demand for new and advanced e-discovery products like processing and analysis software, collection software, review software, legal hold software, and consulting services.

Major players in the e-Discovery Consulting Services industry include Kroll Ontrack, Scarab Consulting and Fios Inc. Consultants are involved in all aspect of e-discovery data collection, retrieval, coding and analysis used for litigation, regulation and investigation. Consultants will face competition from software developers, such as Autonomy Corporation and Symantec Corporation as demand for industry services grows. Software developers will consult and train during and after the software installation process and troubleshoot after installation if problems arise. These services require little additional investment on the part of the software company since its employees will already be well versed in the software for consulting and training purposes. Moreover, as these services can command a hefty price tag, and can lead to on-going engagements, they are a valuable revenue source of income relative to actual software development.

For more information visit IBISWorlds e-Discovery Consulting Services industry

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This industry provides e-discovery services, in which electronic data are searched, located and secured for use as evidence in a court of law. Industry firms provide e-discovery consulting services, including collecting, processing and reviewing data, to end users like law firms, corporations, hospitals and government agencies.

IBISWorld industry Report Key Topics

Industry Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

Globalization & Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data

Annual Change

Key Ratios

About IBISWorld Inc.

Recognized as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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