https://drootoo.com/vdr/how-consent-agendas-help-shorten-board-meeting-times/
The industry of virtual data rooms is expanding rapidly due to the growing the demand for secure methods to share and store sensitive data. The market is also expanding due to the increasing integration of AI technology into VDRs. This helps to streamline processes and protect data. Additionally, the advent of cloud computing and remote work has led to the need for secure online document exchange.
BFSI has a significant market share in the global VDR because of the increasing adoption of this platform by investment banking firms and other financial organizations. The tool assists in the execution of complex mergers and acquisitions by simplifying the deal processes. Furthermore, the introduction of these platforms in medical equipment and clinical research companies for storage and sharing purposes is another key factor driving market growth.
The oil and gas industry is also moving towards consolidation, which demands strict due diligence procedures. The requirement to transfer seismic data and well logs securely is boosting the market growth. The market is also driven by the need for secure solutions to transfer discovery papers that are patent-pending.
North America dominates the global VDR market, followed by Europe and Asia Pacific. The presence of major players in the region, such as Datasite iDeals Solutions DealRoom Intralinks Holdings and Firmex has contributed to regional market growth. The demand for this product is less in LAMEA than in other regions.