A file sharing software is a network-based software tool that enables the transfer or distribution of computer files among multiple people. The software allows the transfer of files between two systems in the same network or connected through the web. These software tools enable the transfer of files between any two users and allow multiple users to work simultaneously on a single file stored at a central location.
Moreover, the increasing uptake of cloud technology and the growing internet penetration escalate market demand. In its recent research report, Market Research Future (MRFR) asserts that the global file sharing software market is projected to reach USD 4,033.0 MN by 2026, growing at 26.1% CAGR throughout the review period (2020–2026). Increasing demand for a convenient platform from individuals and enterprises for safe & fastest file sharing & storing boosts the market growth.
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Additionally, the emergence and market proliferation of cloud-based services and the increased number of organizations moving towards cloud deployment to ease access and share files across different platforms & locations influence market growth. Rising numbers of BPOs & KPOs, especially in the APAC region, increase the market size, providing more opportunities to grow & evolve. Furthermore, growing machine technologies and connected devices, such as computers and smartphones, foster market growth.
The wide adoption of file sharing software in the media & entertainment industry provides an enormous impetus to market growth. Conversely, the high cost associated with the installation of file sharing software is a key factor projected to obstruct market growth. Nevertheless, technological advancements and AI-based scrapping tools would support market growth, providing cost-competitive file sharing solutions.
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Global File Sharing Software Industry has been segmented based on Type, Deployment, Services, End User, Vertical, and Region.
By type, the global file sharing market has been segmented into system native, client server, peer-to-peer, and others. The client server segment accounted for the largest market share in 2018; it is expected to register a CAGR of 26.2% during the forecast period
Based on deployment, the global file sharing market is segmented into cloud and on-premises. The cloud segment accounted for a larger market share in 2018; it is expected to register a higher CAGR during the forecast period.
Based on services, the global file sharing market has been classified into managed service and professional service. The professional segment accounted for a larger market share in 2018; it is expected to register a CAGR of 26.3% during the forecast period
Based on end user, the global file sharing market has been segmented into enterprise user, individual user, and government. The enterprise user segment accounted for the largest market share in 2018.
Based on vertical, the global file sharing market has been classified into BFSI, healthcare, IT & telecommunication, education & research, media & entertainment, and others. The BFSI segment accounted for the largest market share in 2018.
File Sharing Software Market - Geographical Analysis
North America dominates the global file sharing software market. The largest market share attributes to the presence of several notable players and a well-established infrastructure that enables the rapid implementation of advanced technologies. Besides, increasing investments in technology development and the rising adoption of advanced technologies positively impact regional market growth.
Moreover, the increasing popularity of the cloud platform fosters the growth of the regional market. With early adoption and constant innovation by the organizations, the US and Canada hold a leading share in the regional market. The North American file sharing software market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global file sharing software market. The market growth is driven by advances in digital technologies and the increasing need for online file sharing. Additionally, the rising adoption of BYOD across industry verticals substantiates the development of the regional market. The European file sharing software market is expected to create a substantial revenue share during the forecast period.
The Asia Pacific file sharing software market is growing rapidly. The region is a home for BPO services, catering to many non-English spoken economies worldwide. Factors such as the increasing number of businesses and uptake of the software to improve business productivity & efficiency drive the regional market growth.
Moreover, the presence of various dynamic & diversified international organizations and technological advances fosters regional market growth. The APAC file sharing software market is projected to grow at the highest CAGR during the assessment period.
Global File Sharing Software Market - Competitive Landscape
Highly competitive, the file sharing software market appears fragmented, with several well-established industry players forming the competitive landscape. Technology providers adopt strategies such as mergers & acquisitions, expansion, technology innovations, and product & service launch to gain a larger competitive share, intensifying the competitive environment of the market.
Matured technology providers increasingly focus on maximizing their market share while small players find it challenging to compete with them. Many brands have outlined plans to widen the penetration by including various technologies in their product portfolio.
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Players leading the global file sharing software market include Dropbox (US), Google (US), Microsoft Corporation (US), Box (US), ownCloud GmbH (Germany), Citrix Systems, Inc. (US), Intralinks Holdings, Inc. (US), Tresorit (Switzerland), Huddle (UK), Onehub (US), SecureDocs, Inc. (US), IBM Corporation (US), Open Drive (US), WeTransfer (Netherlands), and Droplr (US), among others.
Industry/ Innovation/Related News:
December 08, 2020 ---- Nucleus Cyber, Inc. (NC the US), a leading provider of information protection solutions, announced its expansion into the APAC and European cybersecurity markets with three new channel partnerships to resell the company’s NC Protect solution for data discovery, and protection & compliance for the leading content services and collaboration platforms.
The NC Protect solution uses existing technology investments to provide information protection solutions for file sharing, messaging, and chat across content services & collaboration tools. These three partners are SABASAI (Australia), iSecurity (Taiwan), and SPOO Datascience (Germany). The company also announced its plans to merge with archTIS, a global technology company focused on protecting sensitive information.