According to a recent market report published, the virtual data rooms market was valued at US$1,050 million in 2017 and is expected to register a CAGR of 12.2% from 2018 to 2026.

The increasing demand for easy and secure ways for the storage of critical data and the increasing need for transparent and efficient data-sharing options are among major factors driving the virtual data rooms market.

A virtual data room is a centralised information storage and sharing platform that can be deployed on-premise or on the cloud.

This platform is used by organisations around the world to store and share critical information with customers, external entities, and partners in a robust and secure environment. This online repository can be easily accessed over a secure network at any location.

Advisors/bidders widely use virtual data rooms for financial transactions, due diligence for mergers and acquisitions, fundraising, IPO, strategic partnerships, audits, IP management, board communications, and secure document sharing.

Virtual data rooms market: segmentation and forecast

On the basis of components, the virtual data rooms market is segmented into software and services.

The software segment is expected to hold a considerably high percentage of the virtual data rooms market throughout the forecast period.

On the basis of enterprise type, the virtual data rooms market is segmented into large enterprises and small and medium enterprises.

The large enterprises segment is expected to dominate the virtual data rooms market throughout the forecast period.

However, the small and medium enterprises segment is expected to exhibit a high CAGR owing to the increasing adoption of secure storing and sharing platforms by these companies.

On the basis of deployment, the virtual data rooms market is segmented into cloud and on premise.

The cloud segment is expected to hold a considerably high percentage of the virtual data room market throughout the forecast period.

On the basis of end-user, the virtual data rooms market is segmented into BFSI, law firms, real-estate companies, healthcare and life science, mining and energy, management consultants, ITES, and others.

The BFSI segment is expected to hold a considerably high percentage of the virtual data room market throughout the forecast period. However, the ITES segment is expected to exhibit a high CAGR during the forecast period.

Virtual data rooms market: regional analysis

This virtual data rooms market report also covers the trends driving each segment, and offers analysis and insights regarding the potential of the virtual data rooms market in regions such as North America, Latin America, Europe, China, Japan, South East Asia and others of APAC, and Middle East and Africa.

Among these regions, SEA and others of APAC is projected to exhibit relatively high growth in the global market with a CAGR of 16.7% over the forecast period.

The revenue share from the virtual data rooms market in North America and Europe is expected to collectively account for over 50% of the global virtual data room's market revenue in 2018.

Providers of virtual data room can focus on expanding across several countries in China, MEA, and Latin America.