The Virtual Data Room Market

The global market for virtual datarooms is booming because of the increasing demand for highly secure solutions for document exchanges between organizations and authorities governing legal matters. VDR solutions are also being used in healthcare projects in which it is essential to share confidential information with a number of stakeholders. Virtual data rooms can also be utilized for fundraising activities which require transparency and document management.

In terms of deployment method the virtual data room market is categorized into on-premises and cloud-based. Cloud-based models are expected to dominate the market for the forecast period. In 2021, the cloud-based segment accounted for 67% of global revenue. This is primarily due to the low-cost benefits offered by cloud-based VDR solutions as compared to alternatives https://www.dataroomphoto.com/top-10-tips-on-creating-a-virtual-data-room on-premises. SMEs are expected to adopt cloud-based VDRs, which will boost this segment.

VDR solutions are extensively used in the banking and financial services and insurance (BFSI) sector to help streamline deal processes. Additionally, they are utilized by real estate companies to transfer documents for property purchases and sales. The COVID-19 epidemic has also increased the necessity to work remotely which is causing the adoption of secure document transfer tools such as VDRs.

VDR demand is expected to increase in emerging economies like China, India, Southeast Asia and more. These countries are experiencing rapid economic growth and digitalization creates an environment that is favorable for business transactions like mergers and purchases. This will increase the demand for effective and secure digital solutions.