Press release
Virtual Data Room Market Size to Surpass US$ 4.8 Billion by 2028 at 13.9% CAGR
What Are The Growth Prospects Of The Virtual Data Room Industry?
According to the report, The global virtual data room market size reached US$ 2.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.
What is Virtual Data Room?
Also known as a deal room, a virtual data room (VDR) is a secure online repository for document storage and distribution. It supports the diligence process preceding a merger, acquisition, and disclosure of documentation of a company. It is more secure as compared to physical data rooms, as actions like copying, printing, and forwarding are disabled, and there is no accidental risk of loss during transit. At present, it is extensively used in banking, financial services and insurance (BFSI), retail and e-commerce, government, healthcare, information technology (IT), and telecommunication sectors across the globe.
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What are the growth prospects and trends in the Virtual Data Room industry?
Rapid industrialization and the growing number of small and medium enterprises (SMEs) startups are increasing the volume of business data arising from mergers and acquisitions of companies. This represents one of the key factors catalyzing the demand for VDRs around the world. In line with this, VDRs allow attorneys, accountants, and internal and external regulators to have a centralized point of access. They also aid in reducing errors and time and facilitate communication transparency, which is strengthening the market growth. Moreover, key market players are incorporating advanced technologies, such as artificial intelligence (AI) and machine learning (ML), for spotting risks and prioritizing actions, which is fueling the growth of the market worldwide.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Who are the key players operating in the industry?
The report covers the major market players including:
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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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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