Portland, OR, Aug. 10, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global virtual data room market generated $1.3 billion in 2018, and is estimated to reach $3.63 billion by 2026, registering a CAGR of 13.7% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing need for transact and store increasing volume of data during merger & acquisition in protected manner drives the growth of the global virtual data room market. However, data security issues related with virtual data room is anticipated to restrain the growth of the market. Furthermore, increasing adoption of virtual data room in small and medium enterprises is expected to create new growth opportunities for market player in next few years.
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Covid-19 scenario:
- The growing culture of “work from home” during the Covid-19 pandemic has led many companies to seek digital solutions that facilitate online remote access to required data.
- Usage of virtual data room has been surged during the Covid-19 pandemic as it helps in reducing delays in communications and due diligence activities along with providing secure digital transfer of information.
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The report offers a detailed segmentation of the global virtual data room market based on component, deployment model, organization size, business function, industry vertical, and region.
Based on component, the solution segment contributed to the largest share in 2018, accounting for nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the service segment is estimated to portray the highest CAGR of 16.0% during the forecast period.
Based on deployment type, the on-premise segment accounted for the largest share in 2018, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the cloud segment is expected to portray the fastest CAGR of 15.4% from 2019 to 2026.
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Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the largest CAGR of 16.1% from 2019 to 2026.
Leading market players analyzed in the research include Caplinked Inc., Brainloop AG, Drooms GmbH, Citrix Systems Inc., Firmex Corporation, Ethos Data, Merrill Corporation Ltd., Intralinks Holdings Inc., Vault Rooms Inc., and shareVault.
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