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Virtual Data Room Market Growing at a CAGR 14.5% | Key Player Citrix Systems, Datasite, Diligent Corporation, Axway, Thomson Reuters

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Virtual Data Room Market Growing at a CAGR 14.5% | Key Player Citrix Systems, Datasite, Diligent Corporation, Axway, Thomson Reuters

September 30
15:50 2021
Virtual Data Room Market Growing at a CAGR 14.5% | Key Player Citrix Systems, Datasite, Diligent Corporation, Axway, Thomson Reuters
Citrix Systems (US), SS&C; Intralinks (US), Axway (US), Donnelley Financial Solutions (US), Thomson Reuters (Canada), Datasite (US), iDeals Solutions (China), Drooms (Germany), EthosData (India), SecureDocs (US), Diligent Corporation (US), Ansarada (Australia), SmartRoom (US), CapLinked (US), Vault Rooms (US), Vitrium Systems (Canada), Onehub (US), ShareVault (US)
Virtual Data Room Market with Covid-19 Impact Analysis, by Component, Business Function (Finance and Legal), Application (Due Diligence and Fundraising), Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2026

The global Virtual Data Room Market size to grow from USD 1.6 billion in 2021 to USD 3.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period. Various factors such as increasing volumes of business data due to complexities arising from M&A activities and the shift toward remote work during COVID-19 are expected to drive the adoption of Virtual Data Room software and services.

The services segment to hold higher CAGR during the forecast period

The services segment is further divided into professional services and managed services. These services are an integral step in deploying virtual data room software and are taken care of by software and service providers. While virtual data rooms provide similar services, such as secure data storage, data management, and data exchange, their roles may differ. Military-grade security, multi-language support, full-text search, in-document linking, and a variety of other advanced features are all available in the best online data rooms. The growing adoption of Virtual Data Room solutions is expected to boost the adoption of professional and managed services.

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The marketing and sales segment to hold the highest growth rate during the forecast period

The marketing and sales business function is growing rapidly, owing to the increasing digitalization. This business function is critical to any organization that requires support and information from different departments, which can be instrumental in converting leads successfully. Marketing and sales teams are always on the lookout for new technologies to outperform their competitors.

According to Imprima, a virtual data room is an online tool that securely stores and makes available uploaded documentation. Quite often, virtual data rooms are used as secure, collaborative hubs to assist the due diligence process of an M&A transaction. Other common use cases include the raising of capital and asset management. Due to cost, efficiency, and security benefits, the virtual data room has replaced physical data rooms as a means of disclosing confidential information during a due diligence process.

Some of the key players operating in the Virtual Data Room market include Citrix Systems (US), SS&C Intralinks (US), Axway (US), Donnelley Financial Solutions (US), Thomson Reuters (Canada), Datasite (US), iDeals Solutions (China), Drooms (Germany), EthosData (India), SecureDocs (US), Diligent Corporation (US), Ansarada (Australia), SmartRoom (US), CapLinked (US), Vault Rooms (US), Vitrium Systems (Canada), Onehub (US), ShareVault (US), FORDATA (Poland), Digify (Singapore), FirmsData (India), Confiex Data Room (India), PactCentral (US), kamzan (Italy), bit.ai (US), DocuFirst (US), DCirrus (India), and Kasm Technologies (US). These Virtual Data Room vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global Virtual Data Room market.

Citrix Systems was incorporated in 1989 and is headquartered in Fort Lauderdale, US. Citrix Systems is a leading provider of virtualization, networking, mobility management, and cloud services that provide optimized working environments. The company operates through workspace, networking, and professional services segment. It operates in various verticals, including healthcare, finance, manufacturing, education, and government and public sector. Its virtual data room solutions are used by diverse industries for ensuring better efficiency and security across a broad range of transactions, from streamlining the M&A process to facilitating IP licensing. The company caters to more than 400,000 organizations across the globe, including several Fortune 500 clients. It offers virtual data room services through ShareFile, its cloud-based data room service. It has accelerated its focus on innovative technologies to strengthen its presence in the virtual data room market. It has also emphasized strategic efforts for developing end-user productivity and scalability and improving performance to offer an enhanced customer experience.

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SS&C Intralinks was founded in the year 1996 and is headquartered in New York, US. SS&C Intralinks provides cloud-based virtual data room offerings to leading financial institutions and enterprises. The company was recently acquired by the SS&C Group. SS&C Intralinks offers specific products that meet the needs of major banks and other global corporations in highly regulated industries that are seeking to automate document-centric and collaborative workflows. The company also offers solutions for hedge fund marketing, capital raising solutions, and loan syndication software. With over 20 years of experience in the industry, SS&C Intralinks has offices across the globe, catering to a huge clientele, which includes companies, such as McLaren Honda, Essex Industries, Essar Oil, Red Lion Hotels, DuPont, and L’Oréal. SS&C Intralinks provides a customized virtual data room solution through which it aims to revolutionize the merger and acquisitions deals through a 50% faster rate of transactions, coupled with AI, thereby enabling faster due diligence through automation.

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