USD 1.6 billion
Global Virtual Data Room Market Size, Share, Growth Analysis, By Enterprise(Large, SME), By Deployment Mode(On Premises, Cloud), By Function(Marketing & Sales, Legal), By Industry(BFSI, Retail) - Industry Forecast 2024-2031
Report ID:
SQMIG45J2071 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
123 |
Figures:
77
Global Virtual Data Room Market Insights
Virtual Data Room Market size was valued at USD 1.6 billion in 2019 and is poised to grow from USD 1.83 billion in 2023 to USD 6.2 billion by 2031, growing at a CAGR of 14.5% in the forecast period (2024-2031).
A virtual data room is a great way to keep business organized and protected. It is majorly preferred by the companies that process large amounts of data. It helps to keep the data secure and organized, so that it can be accessed quickly and easily. It also helps to prevent data loss. From the last few years, virtual data rooms have been witnessing strong demand among companies that need to store confidential information. Virtual data room works as a repository for data storage that is hosted online and used for sharing information over a secured network, which is confidential and critical and cannot be shared with third party.
Most of the legal data is secret and sensitive, and hence, required high security. Thus, businesses are focusing on more secured data-sharing technologies. Over the past few years, the virtual data room market has experienced a significant growth due to its adoption across various enterprises for risk management and need to secure intellectual property.
US Virtual Data Room Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cloud-based
Fastest Growth
On-premises
Growth Rate
14.5% CAGR
Global Virtual Data Room Market, 2021-2027 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Virtual Data Room Market Size By Deployment Mode , 2021-2027 ($ Mn)
Global Virtual Data Room Market Size By Deployment Mode , 2021-2027 (%)
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Global Virtual Data Room Market Segmental Analysis
Global virtual data room market is segmented based on by enterprise, deployment mode, function, industry and region. Based on enterprise, it is categorized into large and SME. Based on deployment mode, it is categorized into on-premises and cloud. By function, the market is segmented into marketing & sales, legal, finance and workforce management. By Industry, the virtual data room market is segmented BFSI, retail, and e-commerce, government, healthcare and life sciences, IT & telecommunications, real estate, and others. Based on region, the market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Virtual Data Room Market Analysis By Enterprise
Large enterprises held around 65% share of the global virtual data room market in 2021. Wherein, banks, healthcare organizations, large investment firms, and legal agencies were the key contributors to the market revenue. Large enterprises are increasingly turning to virtual data rooms to help them manage their data.
There are a number of reasons for this, and the benefits of using a virtual data room are clear. First, it creates a single location where all the data from across the organization can be accessed. This allows teams to work together more productively, as they can access the data, they need without having to travel to separate locations. Second, it eliminates the need for physical copies of the data. This means that there is less storage space required, and it also reduces the risk of data loss. Finally, it lowers IT costs as virtual data rooms can be run on a cost-effective basis. All these factors are further encouraging the large enterprise to opt for solution. Thus, global virtual data room market is projected to enjoy higher market revenue coming from large enterprises in the years to come.
Virtual Data Room Market Analysis By Deployment Mode
By deployment type, the market is segmented into on-premises and cloud-based. The cloud-based segment is the leading contributor to the virtual data room market and it held around 67% market share 2021. The growth is attributed due to Small and Medium Enterprises (SMEs) preferring cloud-based solutions owing to the low-cost benefits over on-premise solutions. Small businesses are increasingly turning to cloud-based virtual data rooms to improve their efficiency and communication. Virtual data rooms allow businesses to share information and documents with other employees without having to leave the comfort of their own office. They also allow businesses to collaborate on projects without having to leave their desk.
Virtual Data Room Market Analysis By Function
By functions, the finance segment dominated the virtual data room market with a market share of more than 35% in 2021. Financial institutes have confidential data and people have trust in the transaction they made. Apart from these, exchanging confidential documents for mergers and acquisitions, equity sell/ purchase, managing non-performing loans, and bankruptcy and restructuring, among others. With the increasing changing data policy, many organizations are aggressively implementing secured solutions. After the financial function, legal agencies have a large volume of sensitive information related to multiple high-end clients. Therefore, they required a robust solution to keep this data in an organized and secure manner and accounting for a healthy market share.
Global Virtual Data Room Market By Deployment Mode , 2021(%), 2023 (%)
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Global Virtual Data Room Market Regional Insights
The global virtual data room market is expected to grow rapidly in the next few years. This is because the growth of the digital world has led to an increase in the use of virtual data rooms. North America has already taken the lead in this market, and this dominance is expected to continue in the future. North America dominates the global virtual data room market, owing to the presence of key players such as IBM, Oracle, Microsoft, and Symantec in this region. These companies have been able to adopt virtual data rooms as a key part of their business strategies. Other factors that are contributing to the growth of the global virtual data room market include the increasing adoption of cloud-based solutions and the growing need for collaboration among employees.
Asia Pacific is estimated to witness the highest market growth during the forecast period. The region has been witnessing a considerable rise in the number of start-ups and merger & acquisition activities across developing countries such as China, Japan, and India. Wherein, the requirement for safe solutions to transfer crucial documents and information across organizations fueling the virtual data room market growth in the region.
Global Virtual Data Room Market By Geography, 2021 - 2027, 2024-2031
- Largest
- Fastest
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Global Virtual Data Room Market Dynamics
Virtual Data Room Market Driver
- Virtual data room market is booming, as businesses seek to improve efficiency and security
- Increasing need for secure communications
- Advances in technology, and rising concerns about cyber-attacks.
- Virtual data room allows employees to work from anywhere in the world, which can be a major asset for businesses that operate in multiple locations.
- Virtual data rooms provide companies with a way to manage sensitive information securely and efficiently, which is one of the key factors driving virtual data room market growth
Virtual Data Room Market Restraint
- Lack of trust among employees
- Many people don't feel comfortable sharing sensitive information in a virtual environment, and this makes it difficult to create efficient workflows
- Lack of security measures. Employees often don't trust each other enough to share important files securely, which can lead to data breaches
- Many end-users are reluctant to switch to a virtual data room because they don't believe that it will be effective. However, if these barriers are overcome, the virtual data room market could see significant growth in the future.
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Global Virtual Data Room Market Competitive Landscape
Global virtual data room market is fairly concentrated, with a few big and medium-sized market participants accounting for a large portion of market revenue.
Virtual Data Room Market Top Players Company Profiles
- Brainloop AG
- CapLinked, Inc.
- Citrix Systems, Inc.
- Merrill Corporation
- Datasite (formerly known as Merrill Datasite)
- Intralinks Holdings, Inc. (a subsidiary of SS&C Technologies Holdings, Inc.)
- Firmex Inc.
- Donnelley Financial Solutions, Inc.
- Box, Inc.
- ShareVault (a product of Brainloop AG)
- Onehub, Inc.
- EthosData Limited
- SecureDocs, Inc.
- iDeals Solutions Group S.A.
- HighQ Solutions Limited (a subsidiary of Thomson Reuters)
- Ansarada Pty Ltd
- DocSend, Inc.
- Vitrium Systems Inc.
- SmartRoom (a product of BMC Group)
- Vault Rooms, Inc.
Virtual Data Room Market Recent Developments
- In January 2022, AvePoint, the most advanced SaaS and data management platform provider, introduced Confide, a virtual data room designed to help businesses manage sensitive data needs and collaborate more confidently. Confide is the only virtual data room that is fully integrated with Microsoft 365 and hosted on the end-user cloud tenant, ensuring maximum security and efficiency during the initiation process.
- In April 2022, Citrix Systems, Inc., one of the key players in virtual data room market, launched hybrid cloud and hyperscale-specific deployment options, making it easier than ever for businesses to set up the secure, high-performance workspaces that an increasingly flexible workforce requires.
Global Virtual Data Room Key Market Trends
- Growing need to securely store & transact massive volumes of data during mergers and acquisitions. The enhancement in capabilities such as access security, document security, and user interface of virtual data room has led to the development of powerful platforms on which merger & acquisition (M&A) can be managed effortlessly.
- Virtual data room provider’s encryption of 256-bit and 512-bit to secure and transfer confidential data of their buyers. Therefore, BFSI institutions take these benefits of a virtual data room for their routine business activities and use them as corporate repositories and sharing information, thereby fueling the growth of this market.
Global Virtual Data Room Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our virtual data room market analysis, current attempts to construct a virtual data room are centered on the peaceful co-existence of stakeholders of all sizes, promote decentralized division of power, and hasten the transition to web 3.0. The promise of the virtual data room is based on the disruption of existing technologies and the integration of multiple platforms for value creation in a virtual universe of possible applications spanning work, entertainment, financing, trade and exchange of services, virtual travel, gaming, and digital engagements in an immersive self-sustaining ecosystem powered by digital currencies and enabling edge computing.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.6 billion |
| Market size value in 2031 | USD 6.2 billion |
| Growth Rate | 14.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Virtual Data Room Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Virtual Data Room Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Virtual Data Room Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Virtual Data Room Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Virtual Data Room Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Virtual Data Room Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Virtual Data Room Market Report Snapshots
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