Globally, the market for virtual data rooms has been growing due to the increasing demand for safe solutions for sharing sensitive information. These solutions are used for due diligence auditing mergers and acquisitions, business partnerships, and many other purposes. A virtual data room (VDR) is an application using software that provides security and safety for sharing documents online. The VDR industry is growing rapidly because many organizations are leveraging the cloud-based service to share sensitive documents with their clients in real-time.

Numerous industries are using several industries are using the VDR solution to conduct important processes like due diligence, auditing and bankruptcy. For instance, healthcare businesses need to share medical documents with their potential partners securely. This is why the VDR solution assists in conducting clinical trials, increasing efficiency, and ensuring patient safety. The global VDR market is also growing due to the increase in number of M&A transactions.

In 2019 cloud-based solutions held a significant share in the virtual data room market due to its lower cost advantages over traditional on-premises solutions. This segment is predicted to grow at a higher rate over the forecast time.

The top players in the market for the global virtual data room include Datasite, iDeals Solutions Group, DealRoom Inc., Intralinks Holding, Drooms Gmbh next generation virtual data room, Brainloop, CapLinked, EthosData, Ansarada, and Firmex. These companies offer advanced security features and adhere to strict international standards. They also offer user friendly interfaces, more accessible access as well as accountability, extensive customer support, and robust customer service.

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