dataroomphoto.com/top-10-tips-on-creating-a-virtual-data-room/
The global market for virtual datarooms is growing due to the surge in demand for highly secure solutions for document exchanges between organizations and legal authorities. Furthermore, healthcare projects typically require sharing confidential information with multiple parties which is the reason for the widespread adoption of VDR solutions. Virtual data rooms can also be used for fundraising activities which require transparency and document organization.
In terms of the deployment mode the virtual data room market is classified into on-premises and cloud-based. The cloud-based segment accounted for around 67% of the global revenue share in 2021 and is expected to be the dominant segment during the forecast time. Cloud-based VDRs are more cost-effective than on-premises solutions. SMEs are likely to adopt cloud-based VDRs, which is expected to boost this segment.
VDR solutions are widely used in the banking and financial services, and insurance (BFSI) sector to facilitate streamlined deal processes. They are also utilized by real-estate companies to transfer documents for property purchases and sales. In addition, the COVID-19 pandemic accelerated the need for remote work and prompted the use of secure document transfer tools such as VDRs.
VDR demand is expected to increase in emerging economies like China, India, Southeast Asia, and others. These countries are experiencing rapid economic growth and digitalization, which creates a favorable environment for business transactions, including mergers and acquisitions. This will in turn fuel the demand for secure and efficient digital solutions.