Virtual data rooms has grown impressively in last few years with emergence of cloud based technology. Advancement in cloud computing since last decade has paved way for business to do seamlessly transfer/share data with clients/visitors. Enterprises has also started leveraging virtual data room overs physical data rooms. These rooms are equipped with superior data security and better access control. As a result, the industry is witnessing upward trajectory growth.
Global Virtual Data Rooms Market is estimated to be valued over USD 1,261 million in 2019. It has become important part of enterprises for sharing information and carrying out strategic deals via merger and acquisition. Digitization has helped the industry to flourish and is expected to continue to grow at a CAGR of 14.7% between 2018 and 2028 to create 3.4X higher revenue by 2028. In addition, the industry will add additional incremental revenue of US$ 3,073 million between 2018 and 2028.
Hypercompetitive environment has led industry leaders to adopt inorganic growth as go-to-market strategy. Companies are entering in partnership to hold higher market presence. For instance, in 2018, Diligent acquired Brainloop to offer virtual data rooms offerings. In the same year, SecureDocs Virtual Data Room announced integration with Fujitsu ScanSnap through the ScanSnap Cloud. This will help SecureDocs client to seamlessly move data into SecureDocs through Fujitsu ScanSnap Scanner. The trend is expected to continue throughout the forecast period with advancement in cloud technology and rising business automation.
North America to Dominate the Global Virtual Data Rooms Market
North America accounted for 35.7% market share in 2018. Higher digitization along with presence of large conglomerates in the region has substantially led to good revenue prospects for virtual data room vendors. It is expected that Asia Pacific will outpace the North America. Majority of the transaction is expected to take place through pharmaceutical industry. Various mergers and acquisitions took place in last few years. FDA product clearance and need for higher data security in the segment will be favorable for industry players. Good IT infrastructure, good internet connectivity along with emergence of various business enterprises is pushing the market towards Asia Pacific.
Global Virtual Data Rooms Market Size and Forecast: Competition Landscape
Some key Virtual Data Rooms market players are
- Box Inc.
- Ansarada pty Limited
- Vault Rooms Inc.
- Citrix Systems Inc.
- Donnelley Financial LLC
- HighQ Solutions Limited
- iDeals™ Solutions Group S.A.
- Firmex Inc.
- SecureDocs Inc.
- Merrill Data Site
- Intralinks Holdings Inc.
Virtual Data Rooms Market Industry Segmentation
By Industry Size:
- Small Scale
- Large enterprise
- Pharmaceutical and Medical Device
- Real Estate and Construction
What Will You Discover in the Report?
- An in-depth analysis of the Retail Robot market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Virtual Data Rooms market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Virtual Data Rooms market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Virtual Data Rooms industry during the forecast period
- Who are the Virtual Data Rooms industry leaders and what are the key initiatives taken by them for long term growth
Analyst access with Bekryl Market Analysts
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