http://ow.ly/6HiZQ
A blog post by Doug Austin from his blog eDiscovery Daily.
The article discusses recent surveys regarding trends in the eDiscovery market, and finds that eDiscovery continues to show growth as an industry.
The article states, "...according to a Market Research Report now available from IBISWorld.
As revealed in a press release announcing the report, revenue in the eDiscovery industry is growing at an annual rate of 5.6% over the last five years to an estimated $786.5 million in 2011. In line with a rebound in corporate profitability last year, eDiscovery industry revenue jumped 9.1% then and is anticipated to exceed the five-year average growth rate again this year, with an increase of 7.6%. As the press release notes, “[t]he copious amount of electronically stored information (ESI) has made e-discovery services resilient in the face of tough economic conditions”. In addition, 60% of law firms are planning on increasing their eDiscovery staff in the next 6 months, according to a survey of 45 AmLaw 200 firms conducted by The Cowen Group."
A link to the Cowen Group report is provided in the article, in addition to a link that will allow purchase of the IBISWorld report.
The article also states, "With corporate profit expected to grow at a rate of 7.3% annually over the next five years (to 2016), continued spiraling growth of ESI volumes and growing demand from the legal market, IBISWorld expects eDiscovery industry revenue to continue to rise at an average annual rate of 6.1% over those five years, to reach $1.1 billion by the end of 2016."
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