Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The "Virtual Data Room Market by Data Storage & Management (Database, Content), Security (Encryption, DRM, DLP), Document Type (Contracts & Agreements, IP), Application (M&a Due Diligence, Document Management, Audit, Compliance) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The virtual data room market is projected to grow from USD 2.5 billion in 2024 to USD 5.6 billion by 2029, at a compound annual growth rate (CAGR) of 18.1%
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall virtual data room market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The market is anticipated to grow due to the increasing demand for hierarchical document organization for ease of navigation, the capability to offer unified and centralized access points to assess and efficiently share digital documents and need to streamline the due diligence process and improve collaboration among stakeholders.
By Software type, the AI-assisted Redaction segment registers for the fastest growing market during the forecast period.
AI-assisted redaction software is experiencing the highest CAGR in virtual data room due to its ability to automate and streamline the sensitive data protection process. As businesses increasingly manage large volumes of confidential information, manual redaction becomes inefficient and error prone. AI-driven tools can swiftly identify and redact sensitive data across various document types, reducing the risk of human error and ensuring compliance with data protection regulations. Additionally, the growing adoption of AI technologies across industries and the need for secure, efficient data management solutions drive demand for AI-assisted redaction software, making it a key growth area in the virtual data room market.
By region, Asia Pacific to register the highest CAGR market during the forecast period.
Asia Pacific is experiencing the highest CAGR in the virtual data room market due to rapid digitalization, increased M&A activities, and the rising need for secure data management in emerging economies like China, India, and Southeast Asia. The region's expanding tech infrastructure, coupled with growing awareness of data privacy regulations, drives demand for virtual data room.
Additionally, a surge in cross-border transactions and investments in sectors such as technology, finance, and healthcare further fuel the market. Government initiatives promoting digital transformation and foreign investments also contribute to the region's accelerated growth in the virtual data room sector.
Market Overview and Industry Trends
Case Study Analysis
- Aci's Use of Vitrium Security Enterprise to Prevent Unauthorized Access and Sharing Documentation
- Fastest Labs Boosted Efficiency and Saved Money with Pandadoc and Hubspot Integration
- Legaltech Startup Thoughtriver Conducted due Diligence and Effective Investor Follow-Ups Using Digify
- Oaknorth Bank Used Ethosdata Virtual Dataroom for Secure Communication
- Transforming Hsh Real Estate Transactions with Intralinks Virtual Data Room
Drivers
- Capability to Offer Unified and Centralized Access Points to Assess and Efficiently Share Digital Documents
- Increasing Demand for Hierarchical Document Organization for Ease of Navigation
- Need to Streamline due Diligence Process and Improve Collaboration Among Stakeholders
Restraints
- Facilitating and Accelerating Restructuring Process During Bankruptcy
- Rising Cybersecurity Issues and Data Breaches due to Hybrid Environment
Opportunities
- Integration of AI and ML Technology to Automate Redaction Process and Optimize Document Management
- Advent of Blockchain for Authenticity of Documents in Regulatory and Compliance Scenarios Across Healthcare Sector
Challenges
- Rising Need to Efficiently Manage Access Control and Permissions
- Incompatibility with Various Integrated Devices and Browsers
- Increasing Demand for Securely Storing and Analyzing Large Volumes of Data During M&A
Ecosystem Analysis
- Virtual Data Room Market Service Providers
- Virtual Data Room Market Software Providers
- Virtual Data Room Market End-users
Technology Analysis
- Key Technologies
- AI and ML
- Cloud Computing
- Adjacent Technologies
- Bi
- IoT
- Cybersecurity
- Complementary Technologies
- Electronic Signature
- Blockchain
Patent Analysis
- Methodology
- Patents Filed, by Document Type
- Innovations and Patent Applications
- Top 10 Patent Applicants
Companies Featured
- Ss&C Intralinks
- Box
- Datasite
- Thomson Reuters
- Donnelley Financial Solutions
- Microsoft
- Ansarada
- Pandadoc
- Egnyte
- Ideals
- Smartroom
- Vitrium Systems
- Sharevault
- Fordata
- Ethosdata
- Caplinked
- Imprima
- Midaxo
- Fusebase
- Onit
- Firmsdata
- Confiex Data Room
- Drooms
- Bit.AI
- Dcirrus
- Virtual Vaults
- Firmex
- Deallink
- Pactcentral
- Docullyvdr
For more information about this report visit https://www.researchandmarkets.com/r/4abdj4
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