File Sharing Software Market Highlights:
The file sharing software market size is projected to grow from USD 2.27 Billion in 2023 to USD 4.282 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.24% during the forecast period (2023 – 2032).
The need for seamless and quick transfer of files anytime and anywhere has led to the advancement of file sharing software. The alternatives for file transfer are emails, pen-drives, hard disk, and tapes. File sharing software are preferred over emails as the latter has limitations such as restrictions in file size. Similarly, pen-drives, hard disk, and tapes are inconvenient as they require the sender/receiver to move physically from one place to the other. Therefore, high bandwidth availability (3G/4G/5G), the rapid expansion of network infrastructure, along with data center developments, and the requirement of live data/file sharing has led to the development of file sharing platforms. Moreover, an increase in the adoption of cloud technology and the growing internet penetration have provided individuals and enterprises with a convenient platform to share files immediately and store them safely.
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Key Players:
Key Companies in the file sharing software market 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)
The File Sharing Software Market is growing due to the advancements in digital technology. It is possible to transfer or share data quickly, regardless of time and place. The Industry 4.0 revolution, along with 5G technology further facilitate technological advancements. Cloud computing is a significant opportunity for this market as, currently, various economies in the world are inclined towards this technology. Cloud offers ease and efficient sharing and synchronizing of files, as well as storage. Enterprises from various verticals as well as individual users are using the cloud to store and share files across the globe. Furthermore, the file sharing software also offers a platform for employees.
The high cost of enterprise file sharing software solutions and concerns over data security due to third-party vendor involvement are the restraining factors to this market. Data security has become a key concern in enterprises in recent years due to the growing threat of cybercrime. The growing use of file sharing software in the government, BFSI, and healthcare sectors has also been a major driver for the demand for secure data transfers, as these sectors deal with confidential customer information the release of which can considerably harm the customer. The growing digitalization in the government, BFSI, and healthcare sectors is likely to remain a major driver for the file sharing software market over the forecast period.
Market Segmentation:
The global file sharing software market is segmented on the basis of type, service, deployment, end user, and region.
By type, the global file sharing software market is segmented into system native, client server, peer to peer, and others. The client server segment accounts for the largest share in the global file sharing software market, followed by peer to peer.
By service, the global file sharing software market is segmented into professional services and managed services. The professional services segment is further sub-segmented into integration and deployment services, support and maintenance services, and consulting services.
By deployment, the global file sharing software market is segmented into cloud and on-premise. The demand for cloud deployment of file sharing software is likely to increase rapidly over the forecast period.
By end user, the global file sharing software market is segmented into individual users and enterprise users. The enterprise users segment is further sub-segmented into BFSI, healthcare, IT and telecom, education and research, media and entertainment, government, and others. The enterprise users segment is likely to dominate the global file sharing software market over the forecast period.
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Regional Analysis:
North America is the dominant regional market for file sharing software. Asia Pacific is expected to exhibit the highest growth rate over the forecast period.
The market for file sharing software attracts many of the end users like banking and insurance, telecommunication, information & technology, media and utilities. These users hold a heavy usage of file sharing software. The market for file sharing software is segmented under North America, Europe, Asia Pacific and rest of the world. The market is led by the North America because of the early adoption and constant innovation by the organizations in US and Canada. Any economic and technological changes from United States affects the development trend of File Sharing Software. United States plays an important role in global market, however, the market is followed by the Asia Pacific region majorly because of the emerging technological advancements especially in China, also fast growing India and Southeast Asia regions.
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