Global Virtual Data Room Market: Overview
A virtual data room also called as “VDR,” is an online database or conventional cloud storage used by enterprises to store and share information and documents. The use of virtual data room is becoming increasingly popular. Authorized users are granted access to the information that is stored electronically on the server. Most of the legal data is sensitive and hence needs high security, thus businesses are focusing on secured data sharing by enhancing their services and software during a business deal. Many organizations are opting to virtual data room solutions for securing their financial data while sharing with other parties undergoing a business deal.
Global Virtual Data Room Market: Growth Factors
Over the past few years, the Virtual Data Rooms market has experienced prominent growth due to its adoption in large enterprises along with small and medium-sized enterprises as it becomes an important tool in many businesses. The growing demand for risk management, need for the intellectual property, increasing adoption of the cloud and increasing amount of business data arising from business deals have fuelled the demand and requirement for Virtual Data Rooms. The major growth driver for the Virtual Data Rooms industry is its advantage over a physical data rooms. Furthermore, cloud services for virtual data rooms are emerging market for companies to invest in. However, concerns over data breaches are a major restraining factor for the growth of Virtual data room market.
Global Virtual Data Room Market: Segmentation
In terms of Business Function, Virtual data room market is classified into Workforce management, Finance, Marketing and sales and Legal. The Finance Division is projected to account for the largest market share in the historic period. In terms of Deployment type, Virtual data room market is divided into On-premises and Cloud.
In terms of Component, Virtual data room market is classified into Software and Service. The Services are further divided into Managed services and Professional services. Under professional services, Virtual data room market is sub-segmented into Consulting services and Support and maintenance services. In terms of Organization size, the virtual data room market is classified into Small and Medium-sized Enterprises and Large Enterprises.
Global Virtual Data Room Market: Regional Analysis
North America is projected to dominate and lead the global market which is likely to be followed by Asia Pacific Region. The major share of this geographical division is accredited to developed economies such as Canada and US. The growth is due to their fundraising, rising mergers and acquisitions and their joint ventures. Asia Pacific Region is likely to account for the second-highest market share of Global virtual data room market. Most of the countries like China, Japan, India, New Zealand and Australia are using the virtual data rooms in all the business verticals as a result of the development in infrastructure and due to the expansion of domestic enterprises.
Global Virtual Data Room Market: Competitive Players
Some of the most important market players in the Global virtual data room are Citrix, EthosData, Intralinks, Merrill, iDeals Solutions, Brainloop, Firmex, Drooms, SecureDocs, SmartRoom, CapLinked, and Ansarada, among others.
Global Virtual Data Room Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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