The market for virtual datarooms is booming due to the rising the demand for highly secure solutions for document exchanges between businesses and officials of the law. VDR solutions are also used in healthcare projects in cases where it is necessary to share confidential information with many stakeholders. Virtual data rooms can also be employed for fundraising that require transparency as well as document organization.

In terms of the deployment mode the market for virtual data rooms is divided into on-premises as well as cloud-based. Cloud-based VDR is expected to dominate the market over the forecast time. In 2021, it held 67% of global revenue. Cloud-based VDRs are cheaper than on-premises solutions. SMEs are likely to be embracing cloud-based VDRs, which will increase this segment.

VDR solutions are extensively utilized in the banking, financial services, and insurance (BFSI) sector to speed up deal processing. Real estate companies also use them to transfer documents in the context of property sales and purchases. The COVID-19 pandemic has also accelerated the need for remote work and is driving the adoption of secure document transfer tools like VDRs.

VDR demand is expected to increase in emerging economies like China, India, Southeast Asia, and others. These countries are undergoing rapid economic growth and digitalization, which creates a favorable environment for business https://www.dataroomphoto.com/document-management-in-manufacturing-and-distribution transactions, such as mergers and acquisitions. This is expected to drive the demand for efficient, secure digital solutions.