SAN FRANCISCO, Nov. 19, 2020 /PRNewswire/ -- The global virtual data room market size is estimated to reach USD 4.12 billion by 2027, registering a CAGR of 14.7% from 2020 to 2027, according to a new study by Grand View Research, Inc. Rapidly growing demand for highly secured solutions to share extremely confidential documents between companies during mergers and acquisitions activities is the key factor driving the market growth. A Virtual Data Room (VDR) is a web-based document repository platform in which enterprises can store their highly confidential files and provide access to authorized persons.
Key suggestions from the report:
- In 2019, North America accounted for a market size of USD 596.74 million in the global market, attributed to the significant investments made by leading market players such as Datasite and Intralinks Holdings, Inc.
- With the high focus in developing innovative and new solutions by the key market players, the AI-powered virtual data room solution is estimated to witness massive growth over the forecast period.
- Cloud-based virtual Data Room solutions are expected to witness remarkable growth over the forecast period on the back of benefits associated with accessibility and infrastructure costs.
- Rapidly increasing demand for robust and secured solutions across several investment firms and other financial institutions is estimated to surge the adoption of virtual data room solutions over the next seven years.
- The significantly increasing number of start-ups and mergers and acquisition activities across key emerging countries such as India and China are further estimated to boost the Asia Pacific growth in the market from 2020 to 2027.
- Prominent players such as Datasite, Multipartner S.p.A., and Intralinks Holdings, Inc., and others are strategically focusing on broadening their solutions offerings to a wide range of customers and subsequently increases the total market share.
- Prominent players in the market include Datasite, iDeals Solutions Group, DealRoom Inc., Intralinks Holdings, Inc., SecureDocs, Inc., FirmRoom, FORDATA sp. z o.o., Citrix Systems, Inc., CapLinked, EthosData, Ansarada Pty Ltd., Firmex Inc, Brainloop AG Onehub Inc., ShareVault (Pandesa Corporation), SmartRoom (BMC Group), Multipartner S.p.A., Uniscon GmbH, Aversure AB, Ruby Datum, Drooms, and Imprima.
Read 145 page research report with ToC on "Virtual Data Room Market Size, Share & Trends Analysis Report By Component, By Deployment Type, By Enterprise Size, By Business Function, By Vertical, By Region, And Segment Forecasts, 2020 – 2027" at: https://www.grandviewresearch.com/industry-analysis/virtual-data-room-market
In a bid to collaborate and exchange secret documents swiftly and privately, several legal and government agencies are aggressively adopting virtual data room solutions, thereby fueling the overall demand. The virtual data room solutions have witnessed widespread adoption across healthcare industries for not only delivering enhanced safety for the crucial documents used in clinical trial applications but also for the support in/out-licensing of medicines. As a result, it is estimated to boost the healthcare and life sciences segment growth from 2020 to 2027. Moreover, rising concerns over data security, coupled with stringent data protection regulations like General Data Protection Regulation (GDPR) across European countries and other nations, allow several enterprises to deploy secure solutions, which help them comply with these modern data protection regulations during the exchange of information. Therefore, it is anticipated to fuel the demand for virtual data room solutions across businesses.
With the growing trend to share confidential documents with their vendors and internal employees anytime without using firewalls, the demand for virtual data room is expected to gain momentum among corporate businesses over the forecast period. Additionally, to access secured and organized essential information from anywhere by the busy board members in any organization is expected to surge the VDR demand globally. Furthermore, the virtual data room helps real estate investors, managers, and brokers doing due diligence during many applications, including property exchange, advisory services, and property purchase and sales. Resultantly, it is estimated to propel the adoption of VDR solutions across the real estate industry. Furthermore, the significant focus on providing an AI-powered virtual data room solution helps key market players strengthen their market position globally.
Due to the COVID-19 pandemic, the mergers and acquisitions activities have seen a notable decline during the time. Therefore, it is anticipated to hinder the growth of the VDR market over the forecast period.
Grand View Research has segmented the global virtual data room market based on component, deployment type, enterprise size, vertical, business function, and region:
- Virtual Data Room Component Outlook (Revenue, USD Million, 2016 - 2027)
- Implementation & Integration
- Training and Support & Maintenance
- Virtual Data Room Deployment Type Outlook (Revenue, USD Million, 2016 - 2027)
- Virtual Data Room Enterprise Size Outlook (Revenue, USD Million, 2016 - 2027)
- Large Enterprises
- Virtual Data Room Business Function Outlook (Revenue, USD Million, 2016 - 2027)
- Marketing and Sales
- Legal and Compliance
- Workforce Management
- Virtual Data Room Vertical Outlook (Revenue, USD Million, 2016 - 2027)
- Healthcare & Life Sciences
- Government & Legal and Compliance Agencies
- Real Estate
- Energy & Utility
- Virtual Data Room Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
List of Key Players of Virtual Data Room Market
- iDeals Solutions Group
- DealRoom Inc.
- Intralinks Holdings, Inc.
- SecureDocs, Inc.
- Datasite (Formally known as Merrill Corp.)
- FORDATA sp. z o.o.
- Citrix Systems, Inc.
- Ansarada Pty Ltd.
- Firmex Inc
- Brainloop AG
- Onehub Inc.
- ShareVault (Pandesa Corporation)
- SmartRoom (BMC Group)
- Multipartner S.p.A.
- Uniscon GmbH
- Aversure AB
- Ruby Datum.
Find more research reports on Next Generation Technologies Industry, by Grand View Research:
- White Box Server Market – The global white box server market size was valued at USD 5.61 billion in 2017. It is projected to register a CAGR of 22.0% during the forecast period. Data explosion coupled with digitization and business growth on an extensive scale has underscored the need for data centers.
- Serverless Architecture Market – The global serverless architecture market size was valued at USD 3.14 billion in 2017. It is anticipated to register a CAGR of 26.0% over the forecast period. Rising awareness regarding process agility and reduced operational cost is one of the primary growth stimulants for the market.
- Enterprise Content Management Market – The global enterprise content management market size was valued at USD 25.92 billion in 2016. Soaring need to secure confidential data and achieve operational efficiency is one of the key trends contributing to market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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