Global Virtual Data Room market, which accrued revenue worth 1.65 (USD Billion) in 2019 and anticipated to garner earnings about 3.02 (USD Billion) by 2025, is set to grow at a CAGR of nearly 14.9% during the period from 2019 to 2025.
The global Virtual Data Room market, which accrued revenue worth 1.65 (USD Billion) in 2019 and anticipated to garner earnings about 3.02 (USD Billion) by 2025, is set to grow at a CAGR of nearly 14.9% during the period from 2019 to 2025. The report offers valuation and analysis of the Virtual Data Room market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
Introduction
Virtual data room is a storage space that is utilized by firms for storing confidential information which can be utilized for business transactions such as sharing or distributing of key documents. Furthermore, these virtual data rooms are used for maintaining financial data and are likely to prove as best alternatives for physical data rooms such as data centers. Apart from this, virtual data room offers security to documents and streamlines document management procedures for proficient business transactions. Moreover, virtual data rooms are easy to use, can be easily accessed, controllable, and secured. They also facilitate effective in-room communication activities and are charged as per different pricing models based upon the quantity of data stored in these virtual data rooms.
Market Growth Dynamics
Escalating need for data security and constant requirement for storing huge data volumes in an organized way will propel the market growth over the years ahead. In addition to this, massive demand for rapid deployment facility, enhanced user interface, accessibility, improved customer reach, accountability, security, and technology will prompt the business growth. With cloud storage gaining traction and virtual data centers becoming the buzzword of the decade, the market for virtual data room is anticipated to witness an extensive growth over the forecast timeframe.
Furthermore, large-scale utilization of virtual data rooms across BFSI, Healthcare, Construction, Ecommerce, Retail, Telecom, Information Technology, Finance, Sales & Marketing, Legal, and Workforce Management sectors will culminate in huge growth of the virtual data room industry over the forecast timespan.
North America To Contribute Sizably To Overall Market Share By 2025
The expansion of the industry in the North America over the forecast timeframe is attributed to surge in the acceptance of virtual data room solutions by myriad governments in developed countries such as the U.S. and Canada. Apart from this, escalating requirement for secured & efficient data storage methods along with need for systems that can effectively store big data is likely to prompt the regional market expansion over the forecast period. Surge in the fundraising activities will create lucrative growth avenues for the virtual data room industry over the forecast timeframe.
Key participants profiled in the report include iDeals Solutions, Citrix, CapLinked, EthosData, Firmex, Intralinks, Merrill, SmartRoom, Brainloop, Drooms, SecureDocs, and Ansarada.
The global virtual data room market is segmented as follows:
By business function:
By component:
By deployment type:
By organization size:
By industry vertical:
By Region
Escalating need for data security and constant requirement for storing huge data volumes in an organized way will propel the market growth over the years ahead. In addition to this, massive demand for rapid deployment facility, enhanced user interface, accessibility, improved customer reach, accountability, security, and technology will prompt the business growth. With cloud storage gaining traction and virtual data centers becoming the buzzword of the decade, the market for virtual data room is anticipated to witness an extensive growth over the forecast timeframe. Furthermore, large-scale utilization of virtual data rooms across BFSI, Healthcare, Construction, Ecommerce, Retail, Telecom, Information Technology, Finance, Sales & Marketing, Legal, and Workforce Management sectors will culminate in huge growth of the virtual data room industry over the forecast timespan.
According to Zion market research report, the global Virtual Data Room market, which accrued revenue worth 1.65 (USD Billion) in 2019 and anticipated to garner earnings about 3.02 (USD Billion) by 2025, is set to grow at a CAGR of nearly 14.9% during the period from 2019 to 2025.
North America is likely to make noteworthy contributions towards overall market revenue. The regional market growth over 2019-2025 can be credited to surge in the acceptance of virtual data room solutions by myriad governments in developed countries such as the U.S. and Canada. Apart from this, escalating requirement for secured & efficient data storage methods along with need for systems that can effectively store big data is likely to prompt the regional market expansion over the forecast period. Surge in the fundraising activities will create lucrative growth avenues for the virtual data room industry over the forecast timeframe.
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