e-Discovery Consulting Services in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS OD5420Revenue
$6.2bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
22,459
Businesses
4,578
Wages
$X.Xbn
e-Discovery Consulting Services in the US industry analysis
Operators in the e-discovery consulting services industry meet with legal professionals, government officials and other businesses to assist in data management and data collection on their systems. In addition, e-discovery services enable companies to process and compile data, which can be used in litigation or government investigations. Over the past five years, consumers and businesses' rapidly increasing use of digital systems has spurred demand for services, albeit interrupted by a decline in demand because of a decline in corporate profit in 2020 amid the pandemic. Over the past five years, revenue has grown at a CAGR of 3.2% to $6.1 billion, including an expected 3.2% increase in 2023. Profit is expected to slump to 6.4% of revenue in 2023 from 6.7% in 2018.Over the past five years, demand for e-discovery services has boomed. New technological developments have helped corporate litigators and other professionals handle vast amounts of data and compile necessary evidence for inquiries into business practices. In addition, rising regulation regarding corporate transparency has caused operators to become increasingly aware of their digital presence and bring in consultants to help explain how evidence may be used.Over the next five years, the reliance on information systems in numerous professions and services will continue to drive industry growth. Increasing corporate profit and a growing percentage of services conducted online will drive demand for systems that can better handle data. In addition, the scope of litigation regarding digital information will continue to balloon. However, while law firms will continue to demand software and systems integration from e-discovery consultants, they are expected to increasingly develop in-house e-discovery services, somewhat hindering industry demand. Overall, industry demand is expected to remain strong over the next five years because of the vast amount of time and costs required for law firms to invest in e-discovery services. As the amount of electronically stored information increases, operators will have to sift through more information, which may be time-consuming and costly, resulting in the expected jump in predictive coding. Overall, revenue is forecast to grow at a CAGR of 2.6% to $6.9 billion over the five years to 2028.
Trends and Insights
- The industry has expanded as new entrants have entered the industry to satisfy growing demand. However, this has resulted in increased competition and downward pressure on profit.
- The processing, review and analysis segment has grown along with the hike in corporate profit. Corporate profit influences company budgets and enables private companies to spend more on the advice of e-discovery consultants.
- Business locations for technology-based industries tend to follow population densities and locate near economic hubs. This industry follows that trend somewhat because of the presence of companies that publish software in addition to consultation services, but it also benefits from a wider market potential given the ubiquity of legal needs across the country.
- The breadth of service offerings is a critical form of competition for operators. Service offerings have grown in importance in recent years because of the jump in storage and communication devices.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.5 % over the past five years, to reach an estimated $6.2bn in 2024.
Trends and Insights
Demand for industry services hikes as mobile internet connections and time spent online expand
- The rising demand for e-discovery has primarily been driven by changes in how people and businesses communicate. An increasing proportion of communication occurs electronically through e-mail, text messages or other digital methods.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Data dependence will be a critical driver of demand and revenue growth for the industry
- The growing significance of technology in consumer and business transactions will continue to be the primary driver of industry performance. The percentage of services conducted online is expected to continue climbing over the next five years, indicating a strong reliance on internet systems.
Biggest companies in the e-Discovery Consulting Services in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Epiq Systems Inc. | 405.5 | 65.2 | 16.1 |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
e-Discovery Consulting Services in the US
Products & Services
Industry revenue is measured across several distinct product and services lines, including Processing, review and analysis, Information management and Identification. Processing, review and analysis is the largest segment of the e-Discovery Consulting Services in the US.
Trends and Insights
The processing, review and analysis segment has grown in step with corporate profit
- Operators obtain over one-half of revenue from processing, reviewing and analyzing information. Processing, review and analysis occur after the information is identified, preserved and collected.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Law Firms in the US
- Management Consulting in the US
Complementors
- Software Publishing in the US
- IT Consulting in the US
International industries
- IT Consulting in Canada
- Computer System Design Services in Australia
- Computer System Design Services in New Zealand
- Computer Consultants in the UK
- Computer Consultants in Ireland
Table of Contents
About this industry
Industry definition
This industry provides e-discovery services, usually for software and systems integration, that search, locate and secure data to use as evidence in court. Industry operators provide e-discovery consulting services, including collecting, processing and reviewing data, to end users like law firms, corporations, hospitals and government agencies. This industry excludes e-discovery software publishing, although some consulting firms may also develop their own software.
What's included in this industry?
Databasing and culling electronically stored information (ESI)Processing and producing reports about ESIEarly discoveryForensic and investigative collectionSoftware productionCompanies
Epiq Systems Inc.Purchase this report to view all 1 major companies in this industry.
Related Terms
LEGAL HOLDCULLINGELECTRONICALLY STORED INFORMATION (ESI)CLOUD COMPUTINGIndustry Code
NAICS 54151 - e-Discovery Consulting Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry has expanded as new entrants have entered the industry to satisfy growing demand. However, this has resulted in increased competition and downward pressure on pr...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The processing, review and analysis segment has grown along with the hike in corporate profit. Corporate profit influences company budgets and enables private companies to sp...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Business locations for technology-based industries tend to follow population densities and locate near economic hubs. This industry follows that trend somewhat because of the...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The breadth of service offerings is a critical form of competition for operators. Service offerings have grown in importance in recent years because of the jump in storage an...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Large operators offer various services, including consulting and software services. Operators that provide consulting and software services are better positioned to adapt to ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Epiq Systems Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Epiq Systems Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
US laws govern different technology used by operators. For example, US law governs predictive coding, which operators use because it is more efficient during the sorting proc...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Industry profit lags because of increased competition. New entrants have entered the industry to satisfy growing demand but have also increased competition simultaneously, pu...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the e-Discovery Consulting Services in the US industry in United States in 2024?
The market size of the e-Discovery Consulting Services in the US industry in United States is $6.2bn in 2024.
How many businesses are there in the e-Discovery Consulting Services in the US industry in 2024?
There are 4,578 businesses in the e-Discovery Consulting Services in the US industry in United States, which has grown at a CAGR of 1.3 % between 2019 and 2024.
Has the e-Discovery Consulting Services in the US industry in United States grown or declined over the past 5 years?
The market size of the e-Discovery Consulting Services in the US industry in United States has been growing at a CAGR of 1.5 % between 2019 and 2024.
What is the forecast growth of the e-Discovery Consulting Services in the US industry in United States over the next 5 years?
Over the next five years, the e-Discovery Consulting Services in the US industry in United States is expected to grow.
What are the biggest companies in the e-Discovery Consulting Services in the US market in United States?
The biggest company operating in the e-Discovery Consulting Services market in United States is Epiq Systems Inc.
What does the e-Discovery Consulting Services in the US in United States include?
Databasing and culling electronically stored information (ESI) and Processing and producing reports about ESI are part of the e-Discovery Consulting Services in the US industry.
Which companies have the highest market share in the e-Discovery Consulting Services in the US in United States?
The company holding the most market share in United States is Epiq Systems Inc..
How competitive is the e-Discovery Consulting Services in the US industry in United States?
The level of competition is low and increasing in the e-Discovery Consulting Services in the US industry in United States.
