Dublin, Feb. 18, 2021 (GLOBE NEWSWIRE) -- The "Virtual Data Room Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The virtual data room market was valued at USD 690.59 million in 2020 and is expected to reach USD 1607.41 million by 2026, at a CAGR of 15.12% over the forecast period 2021 - 2026. Increasing adoption of cloud storage technology is contributing to the growth of the virtual data room market, as it is a cost-effective way to eliminate the need for physical storage, reduce the use of paperwork, and decrease the cost of travel.
As the use of a virtual data room is becoming increasingly popular, authorized users are granted access to the information that is stored electronically on the server. Most of the legal data is sensitive, and hence, needs high security. Thus, businesses are focusing on secured data sharing, thereby enhancing their services and software during business deals.
The increasing traffic in the prime data management establishments, such as data centers that are not designed to perform secure transactions, is a great factor driving the demand for VDRs.
Over the past few years, the VDR market has experienced prominent growth, due to its adoption across various enterprises as an important tool, along with the increasing demand for risk management, need for the intellectual property, and an increasing amount of business data arising from business deals, thereby fueling the demand and requirement for VDRs.
Key Market Trends
IT and Telecom Sector is Expected to Hold a Significant Market Share
VDRs emerged into online meeting rooms for everyone involved in an agreement. Co-operation between parties has become simpler and more reliable, as VDR tools are available for use throughout the deal journey. The security protocols around the opening, sharing, and printing documents create a detailed activity trail for participants and auditors.
Blockchain-based technologies are emerging to enhance VDR security across the IT ecosystem. Virtual data room applications are being extended beyond M&A activities, as, nowadays, most of the business operations are conducted online. Many prominent IT and telecom companies have integrated technologies that could offer them quick and efficient information and communication flow.
The virtual data room has evolved across the IT space to become a tool to promote the entire venture, thereby widely finding applications for deals across various end-user segment ventures with the growing application of the cloud technology.
North America is Expected to Hold the Largest Market Share
North America occupied the largest share of the virtual data room market, due to the increasing adoption of virtual data room services by various governments and businesses in developed economies, such as Canada and the United States, which are emphasizing innovation in these existing solutions.
The rising demand for easy and secure methods for the storage of critical data and the increasing need for transparent and efficient data sharing options are fueling data security and secured sharing solutions, which are likely to be in great demand across the region during the forecast period.
Moreover, the growing fundraising, rising number of mergers and acquisitions, and joint ventures with some of the prominent players have fueled the market across the region.
The virtual data room market is highly competitive and consists of several major players. Few of the players are expanding their existing businesses across the emerging economies, with innovation in the cloud and storage technology. Some of the new companies are increasing their market presence by moving across the untapped market space.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Demand for Cost-effective Data Storage Solutions
4.3.2 Sustained Increase in M&A Activity Driving Demand for Efficient Handling of Complex Data
4.3.3 Stringent Data Privacy Regulations
4.4 Market Restraints
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.7 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Organization Size
5.3 By Business Function
5.4 By End-user Industry
6 COMPETITIVE LANDSCAPE
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
Vault Rooms Inc.
ShareVault (Pandesa Corporation)
Citrix Systems Inc.
BMC Group Inc. (SmartRoom)
HighQ Solutions Limited
Intralinks Holdings Inc.
Ansarada Pty Limited
SecureDoc Information Management Pty Ltd
iDeals Solutions Group
Merrill Corporation Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ce9llv
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