According to the latest study titled ‘Virtual Data Room Market to 2027 - Global Analysis and Forecasts by Component (Software, Services); Deployment (On-Premises, Cloud); Organization Size (SMEs, Large Enterprises); Business Function (Merger & Acquisition, Finance, Marketing and Sales, Compliance and Legal, Workforce Management, Others); End-user (BFSI, IT and telecommunication, Healthcare, Energy & Power, Retail, Others)’ available with Market Study Report, the global virtual data room market is estimated to accumulate US $3.66 billion by the year 2027.
 

The virtual data room (VDR) provides access to secure documents for authorized users through a dedicated web site, or through secure agent applications. This online repository is used by companies to store and share information with its customers or any external entity. It can be accessed over a secure network at any location.
 

According to the study, virtual data room market was valued at US $1.08 billion in 2018 and is expected to register a growth rate of 14.5% over the forecast time period. As the industries are focusing on expanding their business footprints, numerous mergers & acquisitions are taking place. This factor in tandem with constant emphasis of market players to improve product capabilities are bolstering the growth of virtual data room market. However, rising security concerns may hinder the market growth to some extent.
 

Based on deployment type, cloud deployment segment accounted for 68% share of virtual data room market in 2018, claims the report. While speaking of organization size, virtual data room industry from large enterprises segment is presumed to grow with a CAGR of 14.7% in the upcoming years.
 

In terms of business function, the industry segmented into merger & acquisition, finance, marketing & sales, workforce management, compliance & legal, and others, wherein the foremost segment is slated to hold 38% market share during the analysis period.
 

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Considering the geographical landscape, the global virtual data room market is fragmented into regions, namely, North America, APAC, Europe, Middle East & Africa, and South America. North America virtual data room market registered the largest regional share in 2018 and is presumed to grow momentously over the forecast timeframe, cites the study.
 

Some of the vendors that operate in virtual data room market are Box Inc., Ansarada Pty Ltd, Caplinked Inc., Brainloop Ag, Firmex Inc., Ethosdata, Intralinks Holdings Inc., Merrill Corporation, and Ideals Solutions Group among others.