Globally the market for virtual data rooms has expanded due to the growing demand for secure methods to share sensitive data. These solutions are used for due diligence auditing, mergers and acquisitions, business partnerships, and other reasons. A virtual dataroom (VDR) provides see the security and safety of a platform for document sharing online. The VDR market is growing rapidly because many companies are using the cloud-based solution to share confidential documents with their clients in real-time.
A variety of industries use many industries are utilizing the VDR solution to perform crucial processes such as due diligence, auditing and bankruptcy. Healthcare companies, for example must securely share medical records with potential partners. This is why the VDR solution aids them conduct clinical trials, increasing efficiency, and ensuring patient security. The global VDR market is also growing due to the rising number of M&A transactions.
In 2019 cloud-based services held a large share of the virtual data room market due to the low-cost benefits over on-premises solutions. The market is expected to expand at a faster rate during the forecast period.
The leading players in the market for the global virtual data room 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 offer user friendly interfaces, better access and accountability, a robust customer support and solid customer service.