The virtual data room (VDR) industry is growing at a rapid pace, owing to a surge in the demand for secure ways of sharing and storing confidential data. The market is also growing due to the growing integration of AI technology into VDRs which aids in streamlining the process and ensuring security of data. Cloud computing and remote working have also fueled the demand for secure online document exchange.

The BFSI segment has a significant share in the global VDR market, due to the growing use of this platform by financial institutions and investment banking organizations. The tool assists in the execution of complicated mergers and acquisitions by simplifying the deal processes. Additionally, the use of these platforms in medical equipment and clinical research companies for data sharing and storage purposes is another important factor driving market growth.

The oil and gas industry is moving towards consolidation, which requires strict due diligence procedures. The market is expanding due to the need for secure transfer of seismic data and well logs. The demand for secure solutions to transfer patented findings papers is also driving the market growth.

The global VDR market is dominating by North America, followed by Europe and Asia Pacific. The presence of major players in the region, including Datasite iDeals Solutions DealRoom Intralinks Holdings and Firmex has contributed to regional market growth. The demand for this service is lower in LAMEA than it is in other regions.