Virtual Data Room Market– Statistics And Analysis & Forecast To 2027Posted by Mrudula Anil Karmarkar on April 29th, 2021 The global virtual data room market size is estimated to reach USD 4.12 billion by 2027, registering a CAGR of 14.7% from 2020 to 2027, according to a new study by Grand View Research, Inc. Rapidly growing demand for highly secured solutions to share extremely confidential documents between companies during mergers and acquisitions activities is the key factor driving the market growth. A Virtual Data Room (VDR) is a web-based document repository platform in which enterprises can store their highly confidential files and provide access to authorized persons. In a bid to collaborate and exchange secret documents swiftly and privately, several legal and government agencies are aggressively adopting virtual data room solutions, thereby fueling the overall demand. The virtual data room solutions have witnessed widespread adoption across healthcare industries for not only delivering enhanced safety for the crucial documents used in clinical trial applications but also for the support in/out-licensing of medicines. As a result, it is estimated to boost the healthcare and life sciences segment growth from 2020 to 2027. Moreover, rising concerns over data security, coupled with stringent data protection regulations like General Data Protection Regulation (GDPR) across European countries and other nations, allow several enterprises to deploy secure solutions, which help them comply with these modern data protection regulations during the exchange of information. Therefore, it is anticipated to fuel the demand for virtual data room solutions across businesses. With the growing trend to share confidential documents with their vendors and internal employees anytime without using firewalls, the demand for virtual data room is expected to gain momentum among corporate businesses over the forecast period. Additionally, to access secured and organized essential information from anywhere by the busy board members in any organization is expected to surge the VDR demand globally. Furthermore, the virtual data room helps real estate investors, managers, and brokers doing due diligence during many applications, including property exchange, advisory services, and property purchase and sales. Resultantly, it is estimated to propel the adoption of VDR solutions across the real estate industry. Furthermore, the significant focus on providing an AI-powered virtual data room solution helps key market players strengthen their market position globally. Due to the COVID-19 pandemic, the mergers and acquisitions activities have seen a notable decline during the time. Therefore, it is anticipated to hinder the growth of the VDR market over the forecast period. Virtual Data Room Market Report Highlights
Medical equipment and clinical research companies often need volunteers to participate in biomedical trials, and, thus, are accountable for keeping safe classified medical information about their patients. Therefore, it needs a robust and secured platform that helps these companies to take complete control of this sensitive information. Subsequently, it is expected to boost the growth of the virtual data room market over the forecast period. Additionally, in a bid to make multiple licensing deals between different companies, the demand for virtual data room solution is estimated to gain huge traction from 2020 to 2027 to share patented discoveries documents by the patent owners to their potential partners separately and securely. The demand for VDR tools is gaining popularity across several legal agencies and government organizations. These tools help these firms keep and transfer multiple clients’ confidential information and files in an organized and private way to another location. Besides, the VDR solution helps various legal clients, including legal advisors, general secretariats, and others, to manage each phase of insolvency procedures such as bankruptcy, composition with creditors, compulsory administrative liquidation, and receivership. Therefore, it is expected to witness significant demand growth over the next seven years. Nowadays, the oil and gas industry is inclining toward consolidations, requiring stringent due diligence operations. Also, the oil and gas projects contain a massive amount of seismic data, and well logs need to transfer safely during the consolidation processes. Resultantly, it is expected to fuel the market growth from 2020 to 2027. Furthermore, with an adverse impact of the COVID-19 pandemic, the mergers and acquisitions activities have been witnessed a considerable drop across the globe. In turn, this is anticipated to slow down the adoption of virtual data room software. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450911/ibb The market is fragmented in nature with the presence of several key players offering virtual data room solutions. Key market players are strategically focusing on new product innovation to increase their overall product portfolios. For instance, in June 2020, Datasite, a SaaS-based VDR solution provider, introduced an AI-powered to simply the mergers and acquisition deals by providing smart structuring and organized data. Moreover, to expand their regional presence and customer base, leading players are aggressively targeting mergers and acquisitions. For instance, in August 2020, Thedocyard, an Australia-based SaaS VDR provider merged with Ansarada, an Australian-based VDR provider. This merger activity helped Ansarada build a USD 125 million company. It also helps to enhance their overall customer base and geographical presence. Some of the prominent players in the virtual data room market include:
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |