(MENAFN- EIN Presswire) Virtual Data Room Industry
A surge in the need for intellectual property and risk management fuels the growth of the virtual data room market.
PORTLAND, PORTLAND, OR, UNITED STATE, March 31, 2023 /einpresswire.com / -- According to the report, the global virtual data room market garnered $1.3 billion in 2018, and is estimated to reach $3.63 billion by 2026, witnessing a CAGR of 13.7% from 2019 to 2026.
The increase in the need to store & transact huge volumes of data during Merger & Acquisition (M&A) in a secure manner and surge in demand for venture capital drive the growth of the global virtual data room market.
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However, cyber security concerns and scarcity of skilled workforce hinder market growth. On the other hand, an increase in adoption among SMEs would create new opportunities in the next few years.
Based on components, the solution segment contributed to nearly three-fourths of the total share of the global virtual data room market in 2018, and is estimated to maintain its lead position during the forecast period. This is attributed to solutions being cheaper and faster to deploy.
However, the service segment would witness the highest CAGR of 16.0% from 2019 to 2026, owing to surge in need of various services including managed services and professional services.
Based on deployment type, the on-premise segment accounted for the highest market share of the global virtual data room market, contributing to nearly three-fifths of the total share in 2018, and is expected to maintain its highest contribution by 2026.
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This is attributed to the improved security features offered by the on-premise model. However, the cloud segment is would register the highest CAGR of 15.4% from 2019 to 2026, owing to the convenience and flexibility provided by cloud.
Based on region, North America contributed to the largest share in terms of revenue in 2018, holding nearly two-fifths of the global virtual data room market, and is expected to continue its dominant share during the forecast period. This is due to rise in cyber-attacks, financial theft, and data theft.
However, Asia-Pacific is expected to maintain the highest CAGR of 16.1% from 2019 to 2026, owing to increase in IT outlays among enterprises in the developing economies such as China and India.
The report analyses the profiles of key players operating in the market Brainloop AG, Caplinked Inc., Citrix Systems Inc., Drooms GmbH, Ethos data, Firmex Corporation, Intralinks Holdings Inc., Merrill Corporation Ltd, shareVault, and Vault Rooms Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Key Benefits for Stakeholders:
.The study provides an in-depth analysis of the global virtual data room market along with the current & future trends to elucidate the imminent investment pockets.
.Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
.Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
.The quantitative analysis of the global virtual data room market from 2019 to 2026 is provided to determine the market potential.
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