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Ediscovery Software Market size is set to grow by USD 13.57 billion from 2024-2028, Rising volume of electronic data to boost the market growth, Technavio

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NEW YORK, July 4, 2024 /PRNewswire/ — The global Ediscovery software market  size is estimated to grow by USD 13.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.7%  during the forecast period.  Rising volume of electronic data is driving market growth, with a trend towards automation and processing of social media data and collaboration tools. However, risk of security breach and rising data volumes  poses a challenge. Key market players include Alphabet Inc., CloudNine, Commvault Systems Inc., Conduent Inc., CS Disco Inc, Deloitte Touche Tohmatsu Ltd., Epiq Systems Inc., Everlaw Inc., Exterro Inc., FTI Consulting Inc., International Business Machines Corp., Ipro Tech LLC, KLDiscovery Inc., Logik Systems Inc., Microsoft Corp., Nuix Pty Ltd., OpenText Corp., Relativity Global LLC, Veritas Technologies LLC, and Xerox Holdings Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Solution and Services), Deployment (On-premises and Off-premises), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Region Covered

North America, Europe, APAC, Middle East and Africa, and South America

Key companies profiled

Alphabet Inc., CloudNine, Commvault Systems Inc., Conduent Inc., CS Disco Inc, Deloitte Touche Tohmatsu Ltd., Epiq Systems Inc., Everlaw Inc., Exterro Inc., FTI Consulting Inc., International Business Machines Corp., Ipro Tech LLC, KLDiscovery Inc., Logik Systems Inc., Microsoft Corp., Nuix Pty Ltd., OpenText Corp., Relativity Global LLC, Veritas Technologies LLC, and Xerox Holdings Corp.

Key Market Trends Fueling Growth

The eDiscovery software market is experiencing significant growth due to the increasing use of collaborative tools and platforms in organizations. This has led to an increase in discovery requests for electronically stored information (ESI) from these platforms. To address this need, advanced analytics capabilities are being integrated into eDiscovery software to extract data from collaborative tools effectively. Vendors offer solutions to help organizations enforce social media policies, monitor for potential data loss, and automate adherence to business rules regarding sensitive data usage. These tools are essential for maintaining information protection and compliance in the digital age. 

The eDiscovery market is experiencing significant growth due to the increasing need for organizations to manage and review large volumes of data in a secure and efficient manner. Key features of eDiscovery software include document collection, processing, review, and production. Advanced analytics and artificial intelligence technologies are trending in this market, enabling faster and more accurate identification of relevant data. Classification and tagging capabilities help organizations to better manage and organize their data. Additionally, cloud-based solutions are gaining popularity for their flexibility and scalability. Overall, eDiscovery software is essential for any business looking to effectively manage their data and mitigate risk. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

•         The Ediscovery software market faces challenges due to the increasing risk of data breaches. Confidential customer data and internet protocol information are at risk, leading to loss of customer confidence, bad publicity, penalties, and criminal prosecution. Legal organizations struggle with managing application-generated records from collaborative applications and cloud-driven file-sharing sites. The rising data volumes further complicate matters, as seen in the healthcare sector where over 40 million patient records were compromised in 2021. These issues are expected to hinder market growth during the forecast period.

•         The Ediscovery software market faces several challenges in effectively managing and processing large volumes of data. These include the complexity of various data formats and sources, such as emails, documents, and social media. Additionally, ensuring data security and privacy is a significant concern. The need for advanced analytics and machine learning capabilities to identify relevant information quickly and accurately is also a challenge. Furthermore, regulatory compliance and e-discovery costs continue to be major issues for organizations. Collaboration and integration with other legal and IT systems are also essential to streamline the e-discovery process.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This ediscovery software market report extensively covers market segmentation by

Component 1.1 Solution1.2 ServicesDeployment 2.1 On-premises2.2 Off-premisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Solution-  The eDiscovery software market’s solution segment is thriving due to its ability to cater to distinct customer requirements and generate value. Services such as data security, file synchronization, data recovery, and backup are provided. Solutions enhance data accessibility and collaboration, optimize storage infrastructure, and ensure business continuity. Notable examples include Nuix eDiscovery software, which handles large, complex data sets. The increasing importance of secure data management fuels the demand for solutions, particularly for businesses prioritizing the cloud. This trend is projected to boost the solution segment’s growth in the market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The eDiscovery Software Market encompasses solutions designed to help Enterprises manage and respond to Cyber security attacks, Litigation, and Regulatory processes involving Electronic information, Documents, and Data. These solutions facilitate Collection, Storage, and Analysis of data from various sources such as remote work environments, cloud-based solutions, messaging platforms, social media, and Bulk storage devices. EDiscovery tools enable Document organization, Classification, and Data protection against Data theft. The market caters to various industries including Travel & Hospitality, Healthcare, Government, Information Technology, Media & Entertainment, and is essential for ensuring Data protection and compliance with regulatory requirements. The Software Market for eDiscovery solutions continues to grow as the need for efficient E-discovery processes becomes increasingly important.

Market Research Overview

The Ediscovery software market refers to the industry that provides solutions for the identification, preservation, and analysis of electronically stored information (ESI) in response to a legal request. These solutions help organizations meet their regulatory and e-discovery obligations. The market encompasses various components such as data collection, processing, review, analysis, and production. The use of advanced technologies like artificial intelligence (AI), machine learning (ML), and predictive coding enhances the efficiency and accuracy of the e-discovery process. The market caters to various industries including finance, healthcare, legal, and government sectors. The growing volume of digital data and increasing regulatory requirements are driving the growth of the Ediscovery software market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionServicesDeploymentOn-premisesOff-premisesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Neusoft Remains No.1 in China’s Healthcare Security Information System Market Share

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SHENYANG, China, July 18, 2024 /PRNewswire/ — In a recent report by IDC titled China Healthcare Security Administrating System Market Shares, 2023: Deepening Application, Neusoft Corporation (Neusoft, SSE: 600718) once again ranks first in China’s healthcare security information system market share, reflecting its ongoing leadership in this field.

Healthcare security informatization was the starting point of Neusoft’s Big Health business strategic layout. Having been deeply engaged in the field for three decades, Neusoft witnessed the development process of China’s healthcare security system, and has been empowering the establishment of the multi-tier and wide-coverage system with its innovative technologies, products, solutions and services. With rich experience and successful practice in healthcare security informatization, Neusoft has won widespread recognition and good reputation in the market. Meanwhile, Neusoft is actively developing systems for deepening application in the areas of data governance and public services, and integrating AI technology into healthcare security informatization, to lead the industry towards continuous innovation and advancement.

Currently, Neusoft provides robust support in building China’s unified national healthcare security information platform, as well as the healthcare security platforms in over 200 cities across 25 provinces. Neusoft is enhancing its R&D investment in AI technology, continuously exploring the innovative application scenarios and practices of healthcare security big data. Besides, Neusoft has recently introduced an integrated solution tailored for China’s compact county-level medical community, facilitating total payment for healthcare security, to empower the development of county-level medical communities.

Looking ahead, Neusoft will strengthen its digital and intelligent business layout and continue to engage deeply in building intelligent healthcare security information system, enhancing the accessibility and convenience of healthcare security services, to promote the digital and intelligent development of the industry.

For more information about Neusoft, please visit www.neusoft.com

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SOURCE Neusoft Corporation

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Motherhood Care+ Secures Seed Funding from Care Ventures Group to Revolutionise Maternity Care Industry

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KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — Motherhood Care+, an innovative health & wellness tech startup based in Malaysia, announced today the successful completion of a seed funding round in December 2023, led by Care Ventures Group, a fund specialising in healthcare, wellness, medical, and AI technologies.

Motherhood Care+: The Future of Maternity

Motherhood Care+ aims to elevate maternity care standards by integrating a comprehensive array of products and services from confinement centres, confinement nannies, and confinement wellness providers. Recognising the critical importance of prenatal and postnatal health & wellness for new mothers, the startup supports women throughout their 9-month pregnancy journey and the crucial first 100 days post-birth.

Motherhood Care+ is a female-led and female-founded company, established in May 2023 by Tan Yew Aik and Goh Shze Yinn. Ms. Tan brings over a decade of experience in the postpartum care and maternity industry and is a co-founder and committee member of the Malaysian Postpartum Care Association. Ms. Goh, with a diverse background in finance and technology, also serves as a board member of Nuren Group Limited, an Australian-listed parenting tech company. Their combined expertise and leadership are pivotal in driving the vision and success of Motherhood Care+.

Funding and Future Plans

“We are thrilled to partner with Care Ventures Group, whose investment underscores our mission to transform the maternity care and wellness landscape,” said SY Goh, Co-founder of Motherhood Care+. “With this funding, we plan to expand our platform and enhance our technology to streamline operations and optimise user experience. In the next six months, we aim to feature at least 750 confinement centre rooms and 1,300 confinement nannies in the Care+ Members App, enabling us to better serve mothers across Malaysia and Singapore.”

Care Ventures Group’s investment comes as Motherhood Care+ achieves operational profitability within less than a year of its inception in March 2024. The startup is set to launch its flagship technology platform, the Care+ Members App, in August 2024. The app aims to cater to 200 new mothers monthly by providing access to a curated selection of maternity care services.

Investor’s Perspective

“We are impressed with the traction and metrics that Motherhood Care+ has achieved in such a short period,” said Dato Eng, Partner at Care Ventures Group. “Both Tan and Goh are domain experts, combining extensive knowledge of the maternity industry with operational excellence in technology adoption and financial controls. I am excited to be part of this promising journey.”

Utilisation of Funds

The seed funding will support Motherhood Care+’s strategic initiatives, including merchant acquisitions, process optimisation, and technology advancement. Over the next six months, the startup aims to onboard over 750 confinement centre rooms and 1,300 confinement nannies onto the Care+ Members App, enhancing accessibility to quality maternity care services across Malaysia and Singapore.

Learn More

To sign up and learn more about the Care+ Members App, visit https://app.motherhood.care/home.

About Motherhood Care+

Motherhood Care+ is a forward-thinking health & wellness tech startup dedicated to revolutionising maternity care. Established in May 2023 and based in Kuala Lumpur, Malaysia, Motherhood Care+ aggregates products and services from confinement centres, confinement nannies, and confinement wellness providers to support new mothers throughout their pregnancy and postnatal journeys. Led by co-founders Tan Yew Aik and Goh Shze Yinn, the company combines extensive industry expertise with innovative technology to enhance maternal health outcomes. Motherhood Care+ aims to elevate maternity care standards by integrating comprehensive solutions that prioritise the health and wellbeing of mothers and their newborns.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/motherhood-care-secures-seed-funding-from-care-ventures-group-to-revolutionise-maternity-care-industry-302201306.html

SOURCE Nuren Group

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Introducing the World’s First Consent-Based Data-Sharing Framework Built on Open Standards: The Affinidi Iota Framework

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Affinidi Iota Framework disrupts how businesses gain insights about customers. The framework shifts the processing of queries to a personal data vault, providing transparency regarding what is disclosed through explicit consent. This grants individuals full control over how they are discovered and how they share information with others.Affinidi Iota framework democratises developers’ access to data through modern and privacy-preserving open standards, including W3C Verifiable Credentials, DIF Decentralised Identifiers, OID4VP, OID4VCI, and Presentation Exchange format (PEX).

BERLIN, SINGAPORE, BANGALORE, India, July 19, 2024 /PRNewswire/ — Affinidi, a Singapore-based data and identity management company, launched the Affinidi Iota Framework built on open standards at the WeAreDevelopers World Congress. This innovative framework establishes a new way for individuals to share data by prioritising explicit consent, empowering individuals to selectively share specific data points with a clear understanding of their intended use.

In the traditional digital landscape, individuals often share sensitive data with third parties without transparency or control, leaving their data vulnerable to misuse, unauthorised access, and data breaches. A Twilio report shows that 60% of Asia Pacific consumers demand consent and communication on data use, while a PwC study reveals a trust gap, with only 30% of consumers trusting businesses. Existing solutions exacerbate these issues by collecting vast amounts of individuals’ data (essential/non-essential) and transferring it to back-end databases, burdening developers with managing large volumes of data and associated risks.

Affinidi’s Iota Framework disrupts this outdated model, pioneering a new era of data privacy and security. The Affinidi Iota Framework enables developers to request essential data points directly from individuals, with explicit consent, eliminating the need to collect and store non-essential information. This approach ensures individuals maintain control over their data, reducing storage burdens, and minimising risks associated with data collection and potential misuse. Affinidi equips developers with dev-friendly templates and robust tools, streamlining the setup of data-sharing processes. With our easy-to-use SDK, developers can navigate the complexities of identity, privacy, and security, building innovative solutions in just minutes.

The Affinidi Iota Framework revolutionises data exchange between businesses and individuals by adhering to strict consent-first principles, providing businesses with richer, more accurate data that enhances personalisation, and fosters market innovation and competitiveness. Roopesh Shah, Co-Founder and CTO of Gro Club, India’s first and largest bicycle subscription model that recently adopted Affinidi’s solution for seamless integration, shared, “We began with Affinidi Login to simplify access to individual data through a one-click onboarding process. But with the introduction of the Affinidi Iota Framework, we are thrilled to advance beyond efficient customer onboarding, laying the groundwork for a future where every interaction is precisely tailored to individual preferences based on accurate and consented data.”

Built on Open Standards

The Affinidi Iota Framework leverages cutting-edge technologies such as the DIF Presentation Exchange (PEX) protocol and the OpenID for Verifiable Presentations (OID4VP) specifications built on OAuth 2.0 to deliver a robust consent-first solution for a new way of data sharing.

At the heart of the Affinidi Iota Framework is the DIF Presentation Exchange (PEX) specification. PEX, based on JSONPATH, serves as a standard query language for data exchange, enabling powerful filtering capabilities that accommodate simple and complex use cases. By defining data requests with a structured syntax, PEX simplifies data sharing, making specific data requests more seamless and efficient. Using standardised schemas ensures that queries are portable, allowing multiple developers and businesses to utilise them without reinventing the wheel. This streamlines the data exchange process and enhances interoperability across different systems.Building on the robust OAuth 2.0 authorisation framework, the OID4VP protocol provides a secure transport mechanism for Verifiable Presentations. Simply put, Verifiable Presentations extract specific information from Verifiable Credentials, like signed digital containers holding personal data (such as an ID or diploma). These presentations, shared as VP Tokens, ensure data authenticity and provenance. This groundbreaking feature enhances data safety, reducing risks of data breaches and fraud by sharing only necessary, verified information. It establishes transitive trust efficiently, maintaining high security and privacy standards within the Affinidi Iota Framework.The Affinidi Trust Development Kit (TDK), our SDK, is an open-source toolkit that enables developers to build privacy-preserving applications efficiently, aligning with complex and evolving standards. This streamlined solution integrates multiple elements to provide privacy functionalities without requiring workflow overhauls. By bridging Web 2 and Web 3 technologies, the framework leverages decentralised data stored in the Affinidi Vault for just-in-time data acquisition. It offers a range of modules, including clients for identity management, verifiable credential handling, and login configurations, ensuring flexibility and choice for developers. Supporting various programming languages such as TypeScript and Python facilitates seamless integration of Affinidi’s trust services into applications.

How it Works

The Affinidi Vault is a secure personal data store where individuals can securely store their information. Developers need to create an Affinidi Iota Framework configuration to set up the basics required to query the data from the Affinidi Vault. After creating a configuration, developers can integrate the Affinidi Iota Framework into their application with the Affinidi TDK. This setup ensures that data is shared only with the explicit consent of the vault owner, empowering individuals with choice and control over the information they share while enhancing data privacy and security. This also simplifies real-time data acquisition, reduces complexity, and enhances trust and transparency.

Revolutionising Data Exchange and Ownership

Affinidi is leading a global movement to return data ownership to individuals through its Holistic Identity concept, addressing the fragmentation of digital identities across platforms. The release of the Affinidi Iota Framework marks another significant step towards achieving this vision.

“In a new world where individuals can control their identity and data, we must redefine how information is shared. The Affinidi Iota Framework represents a major step forward in safeguarding privacy and consent by shifting information processing to the individual’s personal data vault. Gone are the days of trusting third parties with sensitive documents like pay slips and bank statements just to open a bank account,” said Glenn Gore, Chief Executive Officer of Affinidi.

The beta version of the Affinidi Iota framework can be accessed through the Affinidi Portal. Learn more about the Affinidi Iota Framework here.

About Affinidi

Affinidi is a data and identity management company founded by Temasek in 2020 that aims to revolutionise data ownership for good through its Holistic Identity concept. Globally anchored in Singapore and supported by strategic hubs in Berlin, Ukraine, and Bangalore, Affinidi seeks to empower individuals, and enrich developers and businesses through its consent-driven and privacy-preserving solutions, rooted in trust and security.

The Holistic Identity concept encompasses the complete spectrum of discovering, collecting, sharing, storing, and even monetising one’s data in the digital world. Affinidi adopts an unwavering user-first approach, providing innovative developer tools with a ‘privacy-by-design’ philosophy within every layer of their tech stack. It emphasises and executes an end-to-end network trust known as the Affinidi Trust Network, underpinning a data environment that is secure and inherently interoperable. This commitment to decentralised identity management transcends borders and industries.

Affinidi is actively pioneering the #ReclaimYourData movement through advocacy, partnerships, and education. Find out more here: https://www.affinidi.com.

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