Virtual Data Room Industry
The surge in the need for intellectual property and risk management fuels the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, January 29, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, the global market was valued at $1.30 billion in 2018, and the virtual data room market forecast is projected to reach $3.63 billion by 2026, growing at a CAGR of 13.70% from 2019 to 2026.
A Virtual Data Room (VDR) serves as an online repository where companies securely store and exchange critical and confidential corporate data, primarily utilized during various business processes such as bankruptcy proceedings, due diligence, mergers and acquisitions, private equity transactions, fundraising, clinical studies, and organizational restructuring.
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Market trends in the virtual data room sector are influenced by the growing volume of business data resulting from numerous mergers and acquisitions, coupled with government-imposed data privacy regulations. The market also experiences growth due to an increased demand for intellectual property and risk management. However, the market faces challenges related to cybersecurity issues in virtual data rooms, hindering its overall expansion. On the flip side, there is a notable rise in adoption among small and medium-sized enterprises (SMEs), and increased investments by organizations in virtual data room technology solutions are anticipated to offer significant opportunities for market expansion in the future.
The finance segment dominated the virtual data room market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to the increase in the adoption of virtual data room solutions for storing documents, sharing files, securing classified documents, and conducting financial transactions. Furthermore, the legal & compliance segment is expected to grow at a significant CAGR during the forecast period, owing to the use of this solution by legal firms to secure legal documents storage, corporate fundraising, litigation, bankruptcy, M&A documents.
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The BFSI sector dominated the virtual data room industry in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in the adoption of this solution for providing security to the confidential information of the customers and reducing the cyber-attacks on the customers. Furthermore, the IT & Telecom sector is expected to grow at a significant CAGR during the forecast period, owing to its unique features of storing and delivery accurate information to the end user for improving their decision-making capability.
By region, the global virtual data room market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors driving the growth of the market in this region include the growing adoption of virtual data room solutions by governments and businesses in developed economies, such as Canada and the United States. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to the growing data and increasing number of mergers and acquisitions in the region.
Based on components, the solution segment contributed to the largest share in 2018, accounting for nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the service segment is estimated to portray the highest CAGR of 16.0% during the forecast period.
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Based on deployment type, the on-premise segment accounted for the largest share in 2018, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the cloud segment is expected to portray the fastest CAGR of 15.4% from 2019 to 2026.
The report offers a detailed segmentation of the global virtual data room market based on component, deployment model, organization size, business function, industry vertical, and region.
Leading market players:
• Brainloop AG
• Caplinked Inc.
• Citrix Systems Inc.
• Drooms GmbH
• Ethos data
• Firmex Corporation
• Intralinks Holdings Inc.
• Merrill Corporation Ltd.
• shareVault
• Vault Rooms Inc.
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