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.
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Virtual Data Room Market Report Highlights
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Virtual Data Room Market Segmentation
Grand View Research has segmented the global virtual data room market based on component, deployment type, enterprise size, vertical, business function, and region:
Virtual Data Room Component Outlook (Revenue, USD Million, 2016 – 2027)
Virtual Data Room Deployment Type Outlook (Revenue, USD Million, 2016 – 2027)
Virtual Data Room Enterprise Size Outlook (Revenue, USD Million, 2016 – 2027)
Virtual Data Room Business Function Outlook (Revenue, USD Million, 2016 – 2027)
Virtual Data Room Vertical Outlook (Revenue, USD Million, 2016 – 2027)
Virtual Data Room Regional Outlook (Revenue, USD Million, 2016 – 2027)
List of Key Players of Virtual Data Room Market
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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