DUBLIN--(BUSINESS WIRE)--The "Virtual Data Room Market by Business Function (Marketing and Sales, Legal, Finance, and Workforce Management), Component (Software and Services), Deployment Mode, Organization Size, Industry Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The virtual data room market size is projected to grow from USD 1.4 billion in 2020 to USD 2.7 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.4% during the forecast period.
The major factors driving the growth of the virtual data room market includes increasing volumes of business data due to complexities arising from mergers and acquisitions activities and rising need for intellectual property and risk management.
Based on deployment type, the cloud deployment segment to grow at a higher CAGR during the forecast period.
The cloud deployment mode offers operational flexibility and real-time deployment ease to companies, which could be the reason why cloud-based virtual data room solutions are gaining higher traction than on-premises virtual data room solutions. It also offers numerous benefits, including reduced operational costs, simple deployment process, and higher scalability in terms of connected resources. The cloud-based virtual data room solutions comprise applications with a set of multiple services that are compliant with the service-oriented architecture and provide robust transformation processes to meet business objectives. The cloud deployment mode provides additional flexibility for business operations and real-time deployment ease to companies that implement real-time analysis.
Based on industry vertical, the Government segment to grow at the highest CAGR during the forecast period.
Government agencies deal with the most critical data and handle various activities, including managing investor meetings, tackling regulatory requests, conducting merger and acquisition contract discovery, performing investigations and audits, and handling Freedom of Information Act (FOIA) and public record requests. The governments across the globe are always looking out for leading investors to help build new infrastructures and offer them with stakes from railway and road assets, power plants, and ports. These transactions and activities involve the sharing of large amounts of data and lengthy files. The physical access to these files can be vulnerable to data breaches, and if the data reaches wrong hands, it can cause the governments considerable loss. Therefore, the governments adopt virtual data room solutions to share confidential files securely, thereby minimizing the complexities involved in the data sharing process and providing controlled access to the parties involved in transaction.
Among regions, APAC to grow at the highest CAGR during the forecast period.
Developed economies such as Japan, Australia, and New Zealand, along with developing economies (China and India) are using virtual data room software and services across different industry verticals to provide effective solutions. The rapid growth of the virtual data room market in the APAC region can be attributed to the massive growth in business deals and transactions, such as mergers and acquisitions, joint ventures, and fundraising, across all the industry verticals in the APAC region. The rapid expansion of domestic enterprises as well as the development of infrastructure are some of the important factors expected to drive the growth of the virtual data room market in APAC. Citrix, iDeals Solutions, and SmartRoom are some of the companies that offer virtual data room software and solutions in the APAC region to provide insights across various end-user segments.
Market Dynamics
Drivers
- Increasing Volumes of Business Data Due to Complexities Arising from Merger and Acquisition Activities
- Growing Need for Regulation and Compliance Management
- Rising Need for Intellectual Property and Risk Management
Restraints
- Cyber-security Issues
- Presence of Data Silos
Opportunities
- Increasing Adoption of VDR Software and Services Among Smes
- Growing Interest of Corporates in Investing in Technology Solutions
- Increasing Need for Deploying Specific Tools and Technologies to Increase Data Access and Data Convergence
Challenges
- Inconsistent Business Semantics
- Data Privacy and Data Integration Issues
Companies Profiled
- Citrix
- Intralinks
- Firmex
- Datasite
- Ideals Solutions
- Drooms
- Ethos Data
- Securedocs
- Brainloop
- Ansarada
- Smartroom
- Caplinked
- Vault Rooms
- Vitrium Systems
- Onehub
- Sharevault
- Highq
- Donnelley Financial Solutions
- Fordata
- Digify
For more information about this report visit https://www.researchandmarkets.com/r/85j321
