Increase in need to store & transact huge volume 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. However, cybersecurity concerns and scarcity of skilled workforce hinder the market growth. On the other hand, increase in adoption among SMEs would create new opportunities in the next few years. —
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.
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. 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 convenience and flexibility provided by cloud.
Based on component, 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.
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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 the 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 an increase in IT outlays among enterprises in developing economies such as China and India.
Profiling Key Players: Brainloop AG, Caplinked Inc., Citrix Systems Inc., Drooms GmbH, Ethos data, Firmex Corporation, Intralinks Holdings Inc., Merrill Corporation Ltd., shareVault, and Vault Rooms Inc.
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