Virtual Data Room Market Research 2026 Helps Companies Predict Future Trends and Project Revenue
An increase in the risk of various cyber security issues in virtual data rooms hampers the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, October 13, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, the global market was valued at $1.30 billion in 2018, and the virtual data room market forecast is projected to reach $3.63 billion by 2026, growing at a CAGR of 13.70% from 2019 to 2026.
A virtual data room (VDR) is a series of commercial extranets that provide an online repository of data. Businesses use a secure virtual data room to share critical information with external customers and partners in a secure, online environment. The primary goal of virtual data room is to support complex processes and business processes, which require sharing of confidential data with third parties beyond their firewall. In addition, virtual data room helps developers to protect their documents and critical information from vulnerabilities while deploying the security level that matches their application needs.
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Increase in need to store & transact huge volume of data during Merger & Acquisition (M&A) in a secure manner and surge in demand for venture capital drive the growth of the global virtual data room market. However, cyber security concerns and scarcity of skilled workforce hinder the market growth. On the other hand, increase in adoption among SMEs would create new opportunities in the next few years.
The finance segment dominated the virtual data room market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to the increase in adoption of virtual data room solution for storing documents, sharing files, securing classified documents, and conducting financial transactions. Furthermore, legal & compliance segment is expected to grow at a significant CAGR during the forecast period, owing to the use of this solution by legal firms to secure legal documents storage, corporate fundraising, litigation, bankruptcy, M&A documents.
By 2018, the on-premise deployment type had seized the largest market share in the global virtual data room market, contributing to almost 60% of the total share. It is anticipated that this dominance will persist until 2026, primarily due to the enhanced security features associated with on-premise models. Conversely, the cloud segment is poised to exhibit the most remarkable Compound Annual Growth Rate (CAGR) of 15.4% between 2019 and 2026, attributed to the convenience and flexibility offered by cloud-based solutions.
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Regarding components, in 2018, the solution segment commanded nearly three-fourths of the entire global virtual data room market, and it is predicted to maintain its leading position in the forecast period. This is because solutions are not only cost-effective but also quicker to implement. Nonetheless, the service segment is projected to experience the highest CAGR of 16.0% from 2019 to 2026. This growth can be attributed to the rising demand for various services, including managed services and professional services.
Regionally, North America emerged as the leading contributor to revenue in 2018, claiming nearly 40% of the global virtual data room market. It is expected to maintain its dominant position during the forecast period, primarily due to the increasing threat of cyber-attacks, financial fraud, and data breaches. In contrast, the Asia-Pacific region is anticipated to exhibit the highest CAGR of 16.1% from 2019 to 2026. This growth is driven by the escalating investments in IT among enterprises in developing economies such as China and India.
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The report analyses the profiles of key players operating in the market Brainloop AG, Caplinked Inc., Citrix Systems Inc., Drooms GmbH, Ethos data, Firmex Corporation, Intralinks Holdings Inc., Merrill Corporation Ltd., shareVault, and Vault Rooms Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits for Stakeholders:
• The study provides an in-depth analysis of the global virtual data room market along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• A quantitative analysis of the global virtual data room market from 2019 to 2026 is provided to determine the market potential.
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