Globally, the market for virtual data rooms has expanded due to the growing demand for secure ways to share sensitive information. These solutions can also be used for conducting due diligence and auditing activities, mergers & acquisitions, business partnerships, and other reasons. A virtual data room (VDR) is a software-based application that provides a safe and secure platform for sharing documents online. The VDR market is growing rapidly, since many companies are using cloud-based software to share confidential documents in real time with their customers.
The VDR solution is used by several industries to conduct crucial processes like due diligence, auditing, and bankruptcy. Healthcare companies, for example have to share medical documents with potential partners. The VDR solution is a fantastic way to conduct clinical trials, increase efficiency, and guarantee patient safety. The global VDR market is also growing due to the rising number of M&A transactions.
In 2019, the cloud-based segment held a large share of the virtual data room market due to the low-cost benefits over traditional on-premises solutions. This segment is expected grow at a higher rate over the forecast time.
The leading players in the world market for virtual data rooms include Datasite, iDeals Solutions Group, DealRoom Inc., Intralinks Holding, Drooms Gmbh the next generation of virtual data rooms, Brainloop, CapLinked, EthosData, Ansarada, and Firmex. These companies offer advanced security features and adhere to the strictest international standards. They also provide user-friendly interfaces, enhanced accessibility and accountability, as well as a solid customer assistance.