VIRTUAL DATA ROOM MARKET ANALYSIS

Virtual Data Room MarketSize and Trends

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.

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