Virtual Data Room Market Size, Scope, Industry Demand and Forecast 2023-2028

IMARC Group, a leading market research company, has recently released a report titled “Virtual Data Room Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global virtual data room market demand, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What Are The Growth Prospects Of The Virtual Data Room Industry?

According to the report, The global virtual data room market size reached US$ 2.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.

What is Virtual Data Room?

Also known as a deal room, a virtual data room (VDR) is a secure online repository for document storage and distribution. It supports the diligence process preceding a merger, acquisition, and disclosure of documentation of a company. It is more secure as compared to physical data rooms, as actions like copying, printing, and forwarding are disabled, and there is no accidental risk of loss during transit. At present, it is extensively used in banking, financial services and insurance (BFSI), retail and e-commerce, government, healthcare, information technology (IT), and telecommunication sectors across the globe.

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What are the growth prospects and trends in the Virtual Data Room industry?

Rapid industrialization and the growing number of small and medium enterprises (SMEs) startups are increasing the volume of business data arising from mergers and acquisitions of companies. This represents one of the key factors catalyzing the demand for VDRs around the world. In line with this, VDRs allow attorneys, accountants, and internal and external regulators to have a centralized point of access. They also aid in reducing errors and time and facilitate communication transparency, which is strengthening the market growth. Moreover, key market players are incorporating advanced technologies, such as artificial intelligence (AI) and machine learning (ML), for spotting risks and prioritizing actions, which is fueling the growth of the market worldwide.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

Solution
Services

Breakup by Deployment Type:

Cloud-based
On-premises

Breakup by Enterprise Size:

Large Enterprises
Small and Medium Enterprises

Breakup by Business Function:

Marketing and Sales
Legal
Finance
Workforce Management

Breakup by Vertical:

BFSI
Retail and E-Commerce
Government
Healthcare and Life Sciences
IT and Telecommunications
Others

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Ansarada Pty Ltd.
Brainloop AG (Diligent Corporation)
CapLinked
Citrix Systems Inc.
Datasite Global Corporation
DealRoom Inc.
EthosData
Firmex Inc
FORDATA sp. z o.o.
iDeals Solutions Group
Intralinks Holdings Inc. (SSC Technologies)
SecureDocs Inc.
ShareVault (Pandesa Corporation),
SmartRoom (BMC Group).

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