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Optimism and innovation: The Fall 2024 eDiscovery Business Confidence Survey

December 19, 2024
3 Min Read
Emerging Europe Staff

ComplexDiscovery has released the findings of its Fall 2024 eDiscovery Business Confidence Survey, the 36th installment of the widely respected quarterly survey.

Conducted from November 12 to December 6, 2024, this survey provides an in-depth look at the eDiscovery industry, including trends in business sentiment, revenue, profitability, and the adoption of transformative technologies such as generative artificial intelligence (GAI) and large language models (LLMs). 

“The sustained optimism reflected in the Fall 2024 survey highlights the resilience and adaptability of the eDiscovery industry,” said Holley Robinson, Marketing Operations Manager at ComplexDiscovery OÜ. “These insights provide a strong foundation for professionals and organisations to navigate challenges and capitalise on emerging opportunities.” 

The survey, conducted closely with and supported by the Electronic Discovery Reference Model (EDRM), reflects the combined expertise and outreach of two trusted organisations in the eDiscovery sector. Together, their efforts ensured a robust response and broad industry representation, further enhancing the survey’s value as a resource for benchmarking and strategic planning. 

With 61 participants representing a diverse array of industry sectors—including software and services providers (50.82 per cent), law firms (21.31 per cent), corporations (9.84 per cent), and consultancies (8.20 per cent)—the Fall 2024 edition captures the perspectives of leaders and professionals navigating this dynamic ecosystem. 

Key findings 

Industry Sentiment and Financial Outlook 

  • 54 per cent of respondents described current business conditions as “Good,” while 52 per cent anticipate further improvement over the next six months. 
  • Revenue expectations are similarly optimistic, with 57 per cent projecting increases in the coming half-year. Profit outlooks also remain positive, with 39 per cent forecasting growth and 54 per cent expecting stability. 

Challenges: Data Complexity and Budgetary Constraints 

  • The increasing types and volumes of data emerged as top concerns, cited by 24.59 per cent and 21.31 per cent of respondents, respectively. 
  • Budgetary constraints (19.67 per cent) and workforce shortages (14.75 per cent) highlight ongoing pressures to balance innovation with fiscal responsibility. 

AI Adoption Accelerates 

  • Nearly 40 per cent of respondents report active integration and deployment of AI technologies such as GAI and LLMs, with another 54 per cent in evaluation or pilot stages. 
  • Improved service delivery (44.26 per cent) and competitive differentiation (26.23 per cent) are seen as primary benefits, though results accuracy (29.51 per cent) and regulatory compliance (19.67 per cent) remain challenges. 

“This survey reinforces the critical role of collaboration and innovation in addressing the evolving demands of eDiscovery,” said Kaylee Walstad, Chief Strategy Officer of EDRM. “With insights like these, professionals can drive progress while staying focused on data governance and emerging technologies.” 

Geographic and Sectoral Insights 
  • North America remains the hub of eDiscovery activity, with 91.80 per cent of respondents operating primarily in the US. However, participation from Europe, including the United Kingdom and non-UK countries (6.56 per cent), highlights the growing relevance of eDiscovery practices in the European market. 
  • Legal and litigation support professionals dominate participation (63.93 per cent), and 37.70 per cent of respondents identify as executive leaders, emphasising a strategic focus on the industry’s future. 

Those interested in exploring the detailed findings of the Fall 2024 eDiscovery Business Confidence Survey, including complete data sets and additional insights can visit: Fall 2024 eDiscovery Business Confidence Survey Results. 

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