(PR Web Via Acquire Media NewsEdge) San Jose, CA (PRWEB) January 13, 2014
Follow us on LinkedIn – Virtual data rooms (VDR) as a new generation of online document storage and filing system is witnessing strong interest and adoption among enterprises. Defined as a virtual form of the traditional physical data rooms that serve as repositories of important and confidential company related data, VDRs replicate the same function over the Internet using computers. The tough and challenging economic climate which continues to remain the new normal in developed countries and the ensuing pressure on corporate bottom lines is driving significant interest in cost effective IT technologies and solutions. Cloud computing and cloud based technologies, over the last decade, have emerged to revolutionize the very structure of IT departments worldwide. A disruptive force in the making, virtual data room services represent the most efficient model of delivering file storage resources to companies. With almost all industries worldwide now being dependent on compute resources, virtual data rooms, which represent a cloud based resource, is forecast to witness strong growth. Adoption of VDRs will continue to benefit from the maturing cloud concept and the resulting increase in interoperability, data portability, and lower costs.
Disadvantages associated with traditional information storage and management strategies include risk of data loss and misplacement, high upfront capital costs in case of physical data rooms, time consuming filing process, lack of security, and limited efficiency benefits. All of these drawbacks are helping drive the migration to VDRs. Key benefits of VDR driving its adoption include automatic creation of backup of all uploaded files/data, superior security controls, efficient support for multiple users, easy and hassle free retrieval and viewing of files, cost effective storage of regulated information, compliance with regulatory norms, rapid anytime access to files, flexible pay per use billing, elasticity and ability to scale up datacenter resources as per requirement, among others. VDRs in addition also offer a superior alternate solution to generic file sharing (GFS) programs like Dropbox, and Google Drive, which although effective for consumer personal use, are often ill-suited for enterprise applications. Security glitches such as, violation of privacy norms like unauthorized sale or sharing of information with third parties, infrastructure limitations, limited reporting features, inability to track & trace user statistics and lack of strong backup options for files stored, remain key concerns with the use of GFS programs. Virtual data rooms in this regard offer a robust and secure platform for sensitive data storage and sharing.
Typically, use of VDR is dominated by corporate functions such as mergers & acquisitions (M&A), divestitures, liquidation, IPOs and bankruptcies. Future growth, however, will be led by increased adoption of VDR in facilitating newer corporate functions such as investor communications, fundraising, research & development, asset purchases, loan syndication, and supply chain secure document sharing, among others. While investment banks, manufacturing companies, and law firms represent dominant users of VDR, healthcare and pharmaceutical companies are emerging as a lucrative customer cluster, driven by increased drug development and licensing collaborations, patent filing activity and the growing need to protect IP property.
As stated by the new market research report on Virtual Data Rooms, the United States represents the largest regional market followed by Europe. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 20.7% over the analysis period.
Major players in the market include Ansarada pty Limited, AppFolio, Inc., Brainloop, EthosData, Firmex Inc., Global KAP Pty Ltd., iDeals™ Solutions Group S.A., Intralinks Holdings Inc., Merrill Data Site, RR Donnelley & Sons Company, ShareVault, TransPerfect Deal Interactive, and V-Rooms™ among others.
The research report titled “Virtual Data Rooms: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Latin America and Rest of World.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.