ID: MRFR/ICT/3155-CR | March 2019 | Region: Global | 101 pages
Global File Sharing Software Market is likely to develop at a 24.8% CAGR between 2018- 2023, as per the latest Market Research Future’s (MRFR) file-sharing software market forecast report. The strong growth is due to growing internet penetration.
COVID-19 has forced several organizations to transform their workplaces and education digitally to operate effectively. Organizations that depend on advanced technologies like IoT, AI, and cloud to rethink and advance their business for the future by fast-tracking digital transformation will always be at the forefront in the competition. With lockdowns and social distancing being enforced by the government, companies that were not resistant to the concept of a distributed workforce too have been compelled to permit work from home to continue work while measures are taken to curb the spread of the deadly virus. Thus, the mobile workforce trends coupled with the growing digital workplace have led to the positive growth of the file sharing software industry.
The demand for the internet has gone up due to the work from home trends. This, in turn, has boosted the demand for file sharing software from organizations to secure and manage their data.
Rise in Cyberattacks to Bolster Market Growth
The rise in the number of cyberattacks is helping enterprises in adopting file transfer software solutions to transfer and share different types of data securely. This is likely to bolster the file sharing software market growth over the forecast period.
Additional factors adding to the global file sharing software market revenues include the growing adoption of cloud technology, rising internet penetration that has offered enterprises and individuals with a convenient platform for sharing files instantly and storing them safely, advances in digital technology such as 5G technology and industry 4.0 revolution, need for seamless and rapid transfer of files, development of file sharing apps and platforms due to expansion of network infrastructure, and accessibility of communication networking technologies like 4G/5G. Besides, ease of using cloud, ability to scale operations that lead to several sharing companies providing their services based on technology, and the ability to protect intellectual property and content are also adding market growth.
Adoption of Cloud Computing to Offer Robust Opportunities
The adoption of cloud computing may offer robust opportunities to market players in the upcoming days as cloud offers ease as well as efficient sharing & synchronizing of files and storage
High Price to Act as a Market Restraint
The high price of file sharing software may restrict the global file sharing software market demand over the forecast period.
Data Security Issues to Act as a Market Challenge
Data security concerns owing to third-party vendor involvement may act as a major challenge for market players in the upcoming days.
Global File Sharing Software Market, according to MRFR’s file sharing software market statistics report, has been segmented based on type, services, professional services, deployment mode, end user, and enterprise user.
Client-Server Segment to Lead File Sharing Software Market
By type, the global file sharing software market is segmented into peer to peer, client server, system native, and others. Of these, the client-server segment will lead the market over the forecast period.
Managed Services to Dominate File Sharing Software Market
By services, the global file sharing software market is segmented into managed services and professional services. Of these, the managed services will dominate the market over the forecast period.
By professional services, the global file sharing software market is segmented into consulting services, support and maintenance services, and integration and deployment services.
Cloud Segment to Spearhead File Sharing Software Market
By deployment mode, the global file sharing software market is segmented into on-premises and cloud. Of these, the cloud segment will spearhead the market over the forecast period.
Enterprise User Segment to Have Lions Share in File Sharing Software Market
By end user, the global file sharing software market is segmented into enterprise user and individual user. Of these, the enterprise user segment will have the lions share in the market over the forecast period.
By enterprise user, the global file sharing software market is segmented into government, media and entertainment, education and research, IT and Telecom, healthcare, BFSI, and others.
North America to Spearhead File Sharing Software Market
Geographically, the global file sharing software market has been segmented into North America, the Asia Pacific (APAC), Europe, South America, & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. The growing adoption of BYOD in different industry verticals, the rising need for online file sharing, advances in digital technologies, the presence of several industry giants, and the growing demand for security and data governance are adding to the global file sharing software market in the region. Besides, growing incidents of data breach while transferring sensitive data has necessitated companies to use advanced file transfer solutions, mandatory regulations and standards by government authorities which enterprises need to follow to protect customer data, and the different regulations that the software support making it simpler for smaller businesses having less resources to operate in the market are also adding market growth. The US, Mexico, and Canada have the utmost share in the market.
APAC to Grow at Fastest Pace
The global file sharing software market in the APAC region is predicted to grow at the fastest pace over the forecast period. An increase in enterprises adopting BYOD, the presence of leading providers in the region, and local people adopting local file sharing platforms for sharing files are adding to the file sharing software market share in the region.
The global file sharing software market is highly fragmented and competitive with the presence of many key players. These players have encompassed strategies such as acquisitions, mergers, partnerships, agreements, and others to remain ahead in the competition.
Prominent players profiled in the global file sharing software market report include WeTransfer (Netherlands), Droplr (US), Open Drive (US), SecureDocs, Inc. (US), IBM Corporation (US), Onehub (US), Tresorit (Switzerland), Huddle (UK), Intralinks Holdings, Inc. (US), ownCloud GmbH (Germany), Citrix Systems, Inc. (US), Box (US), Microsoft Corporation (US), Dropbox (US), and Google (US), among others.
The global file sharing software market report by Market Research Future throws light on the current trends and niches in the industry. The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period. It also throws light on the different market segments for a comprehensive understanding of the reader.
By Professional Services
By Enterprise User
Frequently Asked Questions (FAQ) :
The global file sharing software market valuation can touch USD 9,891.3 million by 2023.
The global file sharing software market is expected to exhibit 24.8% CAGR from 2018 to 2023.
The need for seamless transfer of files, high bandwidth speeds, and establishment of data centers are major drivers of the global file sharing software market.
Concerns of data security and high costs of enterprise file sharing software can be a bottleneck for the global file sharing software market growth.
Enterprise users can dominate the global file sharing software market.
Intralinks Holdings, Inc., Droplr, IBM Corporation, Dropbox, Tresorit, Open Drive, Onehub, SecureDocs, Inc., WeTransfer, Citrix Systems, Inc., Google, Microsoft Corporation, ownCloud GmbH, Huddle, and Box are key players of the global file sharing software market.