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The global virtual data room market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 14.6% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A virtual data room (VDR) is a software-as-a-service (SaaS) solution for storing and sharing confidential data with third-party entities using the Internet. It offers notes and bookmarks, question and answer (Q&A) tools, and multiple-factor authentication and watermarking. It eliminates the requirement for physical data storage and provides instant access from any location. It acts as an online repository to facilitate fundraising, mergers and acquisitions (M&A), and initial public offer (IPO). Consequently, it is employed in the banking, financial services, and insurance (BFSI) sector worldwide to manage day-to-day operations, ranging from documents to compliance.
A significant shift towards advanced solutions for improving business operations and securing documentation management represents one of the key factors bolstering the market growth. VDRs enable firms to share information in a secure, on-demand, and cost-efficient manner. Additionally, rapid digitization and the emergence of new business models are promoting M&A activities, which, in turn, is contributing to the market growth. Moreover, the rising number of startups is influencing the demand for VDRs to help share confidential information and control sensitive documents for due diligence. Apart from this, the emerging automation trends in manufacturing processes are encouraging the adoption of VDRs for sharing designs and product data among manufacturers. Furthermore, several service providers are incorporating artificial intelligence (AI) and machine learning (ML) to enable automatic document translation and red flag analysis. They are also introducing customized VDR structures, which are anticipated to propel the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual data room market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, component, deployment type, enterprise size, business function and vertical.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Ansarada Pty Ltd., Brainloop AG (Diligent Corporation), CapLinked , Citrix Systems Inc., Datasite Global Corporation, DealRoom Inc., EthosData , Firmex Inc, FORDATA sp. z o.o., iDeals Solutions Group, Intralinks Holdings Inc. (SS&C Technologies), SecureDocs Inc., ShareVault (Pandesa Corporation), and SmartRoom (BMC Group).
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