Virtual Data Room Market to Witness Robust Expansion by 2025
North America is expected to be dominant in the global virtual data room market over the forecast period. Due to the massive growth in the business deals and transactions, such as mergers and acquisitions, joint ventures, and fundraising across the region due to the rapid expansion of SMEs (small and medium) enterprises as well as the higher development of infrastructure.
For instance, companies such as Merrill Technologies Group, Firmex Hungary Inc., and IntraLinks are some of the major players in the region. Synchronoss Technology acquired IntraLinks in January 2017, for expanding its VDR business (Virtual Data Room). Thus, M&A (merger and acquisition) helps in gaining the competitive advantage in the market. Therefore, the North America will remain the dominant region.
Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1416
Virtual data rooms store information or data in the online repository. This data room provides repository from where the data is hosted online and can be shared with the third party over a secured connection. Rising adoption of cloud storage solution and services by enterprises is expected to aid in growth of the market. These data rooms provide a cost-effective solution that helps in eliminating the need of physical storage, which in turn helps in reducing the usage of paper.
Increasing adoption of online document exchange is expected to be a major driving factor for growth of the market
Enterprises are increasingly shifting their business and workload to the cloud for improving efficiency, enhance storage capacity, and reduce costs. These enterprises are adopting various tools for data exchange such as GESMES, SDMX-ML, XML, CSV, and ESMS, as these aid in increasing the flexibility while exchanging and transmission of the documents. This is expected to propel growth of the virtual data room market.
Social media is another driving factor that is driving growth of the market. According to the Coherent Market Insights analysis, in 2017, It is estimated that the number of internet users were 3,582,000,000 and 40% of the world’s population had access to the internet and the internet users are expected to rise up to 5 billion users by 2020. However, with increase in number of internet user will extract more documents from the internet which means it positively impacts on the growth of the virtual room market.
Lack of customization and technical expertise are among the major challenges that may restrain the market growth
Users are adopting virtual data room solutions have no control over infrastructure or data, which could lead to data breaches. Additionally, service provider have authority of enforcing the services related policies over the user. Moreover, lack of technical proficiency is also another factor for hindering growth of the market.
Request For Table of Content of this Report : https://www.coherentmarketinsights.com/ongoing-insight/toc/1416
You may be interested
Hydrogen Vehicle Market Positive long-term growth outlook 2018-2025Sayali Tribhuvan - June 24, 2018
Hydrogen Vehicle Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps Market participants in…
Hashgraph Market New Research Highlights the Current Trends, Opportunities And Challenges For IndustrySayali Tribhuvan - June 23, 2018
Hashgraph Market Report provides an analytical assessment of the prime challenges faced by this industry currently and in the coming years, which helps market participants in understanding…
Speech Analytics Market Segmentation by Revenue, Present & Future Scenario To 2025Sayali Tribhuvan - June 23, 2018
Speech Analytics Market Report provides an analytical assessment of the prime challenges faced by this industry currently and in the coming years, which helps market participants in…