According to the latest report by IMARC Group “Virtual Data Room Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global virtual data room market size reached US$ 1.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2027, exhibiting a growth rate (CAGR) of 14.29% during 2022-2027.
A virtual data room (VDR) is an online repository of sensitive and confidential organizational data and documents. It is a centralized information storage facility used for storing and sharing information securely during mergers and acquisitions, asset management, auditing, fundraising, bankruptcy and organizational restructuring. It is usually deployed on-premises or on the cloud. In comparison to the traditionally used physical data rooms, VDRs enable multiple potential bidders, are more cost-effective, secured and reliable. As a result, they find extensive applications across various industries, including banking, financial services and insurance (BFSI), retail, telecommunication and information technology (IT).
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The global virtual data room is primarily driven by the increasing utilization of cloud computing solutions for managing organizational data. Small and medium-sized enterprises are increasingly using cloud-based VDR solutions for exchanging confidential documents and information among businesses and legal agencies. These solutions also offer enhanced scalability, adaptability, and convenient deployment. Moreover, the widespread adoption of VDRs for storing information related to biomedical trials, medical equipment and patient information is contributing to the growth of the market. Other factors, including the emergence of blockchain technology for enhancing VDR security, along with significant growth in the IT infrastructure, are favoring the market growth.
Breakup by Component:
- Solution
- Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium Enterprises
Breakup by Business Function:
- Marketing and Sales
- Legal
- Finance
- Workforce Management
Breakup by Vertical:
- BFSI
- Retail and E-Commerce
- Government
- Healthcare and Life Sciences
- IT and Telecommunications
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Ansarada Pty Ltd.
- Brainloop AG (Diligent Corporation)
- CapLinked
- Citrix Systems Inc.
- Datasite Global Corporation
- DealRoom Inc.
- EthosData
- Firmex Inc
- FORDATA sp. z o.o.
- iDeals Solutions Group
- Intralinks Holdings Inc. (SS&C Technologies)
- SecureDocs Inc.
- ShareVault (Pandesa Corporation),
- SmartRoom (BMC Group).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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