Infographic: Top Market Trends in Enterprise Data Archiving and eDiscovery

Data archiving and eDiscovery solutions are currently among the most sought-after information governance technologies. Now that mobile devices and instant messaging apps are practically key tools in today’s business setting, it is crucial for organizations – both public and private – to have a comprehensive archiving platform in place.

This is not only to ensure full compliance to various archiving requirements such as NARA, FINRA, and MiFID II but also to avoid legal repercussion of not being able to produce electronic records in case the business is subject to a lawsuit.

To give you a glimpse of the latest trends in enterprise data archiving and eDiscovery solution market, we detail in this infographic the findings from the research conducted by IDC, covering the latest industry insights, statistics, and figures about U.S. archiving landscape.

Key Industry Insights

• Most organizations are planning to increase spending on archiving (61%) and eDiscovery solutions (55%) over the next 12 months, attesting to the increasing importance by companies and public agencies on archiving and eDiscovery as a driver of business.
• A large portion of budgets will be allocated to Software as a Service (SaaS) archiving solutions (88.9%) and SaaS eDiscovery solutions (73.9%). According to research from Gartner, the increased spending in SaaS can be attributed to the ability of vendors to provide well-rounded applications in the cloud without sacrificing functionality.

eDiscovery Market Trends

• Majority of organizations leverage Hybrid approach to eDiscovery. This can be seen in the mix of both software and services as well as both on-premise and SaaS solutions that are being leveraged by organizations.
• Most organizations start their eDiscovery process in-house with the help of software. 74% of organizations use their eDiscovery software in Identification and Collection activities, 54% use their software for Review activities, and 51% use their software for Internal Investigation
• While organizations are expected to continue to leverage both software and services for eDiscovery workflow, the service providers with whom they are working is changing. In fact, the work that is being outsourced is being moved from law firms (-5%) to legal service providers (+7%).
• While the majority (92%) of respondents claim to be satisfied with current solutions, most are still evaluating and replacing (90%) eDiscovery solutions.

Data Archiving Market Trends

• The top four priorities of organizations for deploying an archiving platform are:
  • Efficiently respond to legal discovery requests and compliance audits.
  • Ensure compliance with government and internal record retention policies.
  • Support business intelligence and knowledge management initiatives.
  • Improve primary application and storage performance.
• 66% of organizations rate ability to perform advanced analytics on archived data (big data initiatives) as the 3rd most important capability they consider when choosing an archiving solution – next to maintaining the original file name to the data for clients/applications and records retention.
• Aside from Email archiving systems, archiving capabilities for audio data (telephone calls and voice messages), social media content, and mobile device data (business text messages, chat, IMs) are expected to increase in demand over the next 2-5 years.
• Cloud archive environments will grow faster than on-premises solutions over the next 2-5 years. It is therefore imperative for organizations to seek archiving solution providers that have an approach to archiving, which leverages their own cloud storage or storage from leading cloud services providers.

TeleMessage is a global leader that supports the archiving of electronic business communication including data created on mobile devices, social media, instant messages, chat apps and internet web searches. Visit our website today at www.telemessage.com learn more about our enterprise mobile messaging solutions.

I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.