The global virtual data room market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for highly secured solutions for exchanging confidential documents and information among businesses and legal agencies.
The virtual data room (VDR) delivers a protected platform to organizations, which supports them to send and store their clients' sensitive information for instance contracts, deal negotiations, and biding data anywhere. The platform is largely preferred in various businesses due to its several advantages to ensure safety and protection of data and documents. Additionally, the oil & gas sector is minded toward consolidations and demanding rigorous diligence processes. Moreover, the oil & gas projects involve a large amount of seismic data and well logs demand to transfer safely during the consolidation processes.
Clinical research and medical equipment companies sometimes demand volunteers to involve in biomedical trials, and, therefore, are attributed towards having safe classified medical information about their patients. Thus, it needs a secured and robust platform that can support these organizations to control this sensitive information completely. In addition, in offer to make multiple licensing deals between companies, the need for virtual data room solution is anticipated to exhibit a large traction to share patented development documents by the patent holders to their future partners securely and separately.
Market Trends, Drivers, Restraints, and Opportunities
- Wide adoption of the platforms by several businesses for certain advantages such as real-time document transfers, document storage, and providing integration features with multiple databases are key drivers of the market.
- Increasing demand for VDR equipment in several government organizations and legal agencies are expected to propel the market expansion during the forecast period.
- Insolvency procedures for instance composition with creditors, bankruptcy, compulsory administrative liquidation, and receivership are widely using VDR services. This is a key factor driving the market growth.
- Industries such as oil & gas carry a tremendous amount of data, which needs to transfer safely during the processes. This is expected to boost the market growth in the coming years.
- Mergers and acquisitions activities have declined substantially due to COVID-19 pandemic globally. This is a key challenge expected to hamper the market growth during the forecast period.
Scope of the Report
The report on the global virtual data room market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | Virtual Data Room Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Components (Solutions [AI-Powered and Non-AI-Powered] and Services [Consulting, Implementation & Integration, Training and Support & Maintenance]), Deployment (On-premise and Cloud-based), Enterprise Size (SMEs and Large Enterprises), Business Functions (Legal and Compliance, Marketing and Sales, Finance, and Workforce Management), and Vertical (Corporates, BFSI, Government & Legal and Compliance Agencies, Healthcare & Life Sciences, Industrial, Energy & Utility, Real Estate, and Others) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | iDeals Solutions Group; Datasite; Intralinks Holdings, Inc.; DealRoom Inc.; FirmRoom; SecureDocs, Inc.; Citrix Systems, Inc.; FORDATA sp. z o.o.; EthosData; CapLinked; Ansarada Pty Ltd.; Brainloop AG; Firmex Inc.; Onehub Inc.; SmartRoom (BMC Group); ShareVault (Pandesa Corporation); Multipartner S.p.A.; GmbH; Uniscon GmbH; Ruby Datum; Aversure AB; Drooms; and Imprima. |
Market Segment Insights
Solution segment is expected to account for a key market share
Based on components, the global virtual data room market is bifurcated into solutions and services. The solutions segment is further divided into AI-powered and non-AI-powered, while the services segment is sub-classified as consulting, implementation & integration, and training and support & maintenance. The solutions segment is expected to account for a key share of the market during the forecast period due to increasing demand for VDR software across various applications. However, the services segment is anticipated to expand at a rapid pace during the forecast period owing to efficiency and variety of array of services.
Cloud-based segment is estimated to expand at a robust growth rate
On basis of deployment, the market is bifurcated into on-premise and cloud-based. The cloud-based segment is estimated to expand at a robust growth rate during the projected period owing to constant concentration of key market players to provide cloud-based VDR solutions across the world. Meanwhile, the on-premise segment is anticipated to account for a large market share in the coming years due to the increased demand to get total control on their confidential documents and minimize the cyber threat concerns.
Large enterprises segment is projected to expand at a considerable CAGR
In terms of enterprise sizes, the virtual data room market is bifurcated into SMEs and large enterprises. The large enterprises segment is projected to expand at a considerable CAGR during the projected period due to high adoption rate of virtual data room software among banks, large investment firms, healthcare organizations, and legal agencies. On the other hand, the SMEs segment is anticipated to account for a key market share in the coming years due to the robust demand for cloud-based VDR solutions in SMEs to maintain their confidential and legal documents.
Finance segment is anticipated to register a high CAGR
In terms of business functions, the market is classified into legal and compliance, marketing and sales, finance, and workforce management. The finance segment is anticipated to register a high CAGR during the forecast period due to extensive adoption rate of VDR tools across several businesses and finance domains for several financial related applications. Moreover, the legal and compliance segment is expected to exhibit a high growth rate during the forecast period owing to need a robust solution to keep this information in an organized and secure manner.
Corporates segment is anticipated to grow at a considerable rate
In terms of verticals, the global virtual data room market is categorized as corporates, BFSI, government & legal and compliance agencies, healthcare & life sciences, industrial, energy & utility, real estate, and others. The corporates segment is anticipated to grow at a considerable rate during the forecast period due to swift surge in demand for VDR tools for applications such as portfolio management, raising capital, branding, and divesting assets, among others. Furthermore, the government & legal and compliance agencies segment is projected to represent a substantial growth rate in the coming years owing to rising demand for safety and protection of confidential information.
North America is anticipated to constitute a key market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period due to significant investments made by the key market players and presence of the high number of legal and government agencies and large enterprises. The market of Asia Pacific, however, is expected to constitute a major share of the market in the coming years owing to increased augmentation augment the VDR solutions' development in the sector for protected document sharing during the purchase or sale of properties.
Segments
The global virtual data room market has been segmented on the basis of
Components
- AI-powered
- Non-AI-powered
- Services
- Consulting
- Implementation & Integration
- Training and Support & Maintenance
Deployment
Enterprise Sizes
Business Functions
- Legal and Compliance
- Marketing and Sales
- Finance
- Workforce Management
Vertical
- Corporates
- BFSI
- Government & Legal and Compliance Agencies
- Healthcare & Life Sciences
- Industrial
- Energy & Utility
- Real Estate
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- iDeals Solutions Group
- Datasite
- Intralinks Holdings, Inc.
- DealRoom Inc.
- FirmRoom
- SecureDocs, Inc.
- Citrix Systems, Inc.
- FORDATA sp. z o.o.
- EthosData
- CapLinked
- Ansarada Pty Ltd.
- Brainloop AG
- Firmex Inc.
- Onehub Inc.
- SmartRoom (BMC Group)
- ShareVault (Pandesa Corporation)
- Multipartner S.p.A.
- GmbH Inc.
- Uniscon GmbH
- Ruby Datum
- Aversure AB
- Drooms
- Imprima
Competitive Landscape
Key players competing in the global virtual data room market are iDeals Solutions Group; Datasite; Intralinks Holdings, Inc.; DealRoom Inc.; FirmRoom; SecureDocs, Inc.; Citrix Systems, Inc.; FORDATA sp. z o.o.; EthosData; CapLinked; Ansarada Pty Ltd.; Brainloop AG; Firmex Inc.; Onehub Inc.; SmartRoom (BMC Group); ShareVault (Pandesa Corporation); Multipartner S.p.A.; GmbH; Uniscon GmbH; Ruby Datum; Aversure AB; Drooms; and Imprima. The main market players are continuously engaged in certain business development activities such as mergers and acquisitions, research and developments, investments for innovative products, and collaborations. For instance, Datasite, which is a SaaS-based VDR solution supplier, launched an AI-powered to simply the mergers and acquisition contracts by giving organized data and smart structuring in June 2020.
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