File sharing software provides multiple users access to important files and enables them to collaborate with clients and customers. Files can be synced to the cloud and accessed through multiple platforms. The global file sharing software market report by Market Research Future (MRFR) provides insights on changing demands of users amid the rapid consumption of data and access to high-speed data speeds. The COVID-19 pandemic is taken into account for providing projections for the period of 2018 to 2023 (forecast period).
The global file sharing software market can expand at 24.8% CAGR during the forecast period to touch a value of USD 9,891.3 million by 2023, according to MRFR. The need for rapid and seamless transfer of files is the major driver of the market. Development of file sharing platforms and apps owing to expansion of network infrastructure and availability of communication networking technologies such as 4G/5G can bode well for the market.
The ease of using cloud and ability to scale operations can lead to many file sharing companies offering their services based on the technology. Moreover, the dipping prices of cloud storage and offerings of various storage subscriptions can drive the market demand significantly. The ability to protect content and intellectual property can serve as new avenues for growth. Recently, FileCloud, an enterprise file sharing and data governance platform, has built in security in its latest iteration and focused on encryptions for preventing data from corruption during large file transfers.
But the high costs of enterprise file sharing software can limit its growth.
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By type, it is segmented into client-server, system native, peer-to-peer, and others. The client-server segment is lead in the market, followed by peer-to-peer.
By services, it is divided into professional services and managed services. The former is sub-segmented into support & maintenance services, integration and deployment services, and consulting services.
By deployment mode, it is segmented into cloud and on-premises.
By end user, it is divided into individual user and enterprises user. The enterprises user is the largest segment of the global file sharing software market in 2017.
By vertical, it is segmented into government, BFSI, healthcare, education and research, IT & telecom, media and entertainment, and others.
The global file sharing software market by region is segmented into Asia Pacific (APAC), North America, Europe, the Middle East & Africa (MEA), and South America.
North America led the file sharing software market in 2017, whereas APAC is expected to be the fastest growing region in the file sharing software market with the highest CAGR during the forecast period. The U.S. is expected to gain the highest market share in the region, followed by Canada and Mexico. Some of the factors accountable for the growth of the market include advancement in digital technologies with the increasing need for online file sharing as well as the rising adoption of BYOD across industry verticals. Moreover, the presence of industry giants such as Dropbox Inc., Google Inc., Citrix ShareFile Inc., SecureDocs, Inc., Onehub, Droplr, Inc., Box Inc., Huddle, and OpenDrive, is one of the driving factors for the file sharing software market in this region.
Europe is expected to be at the second spot for the file sharing software market in terms of market share during the forecast period.
Box, WeTransfer, Droplr, Open Drive, Microsoft Corporation, Dropbox, Citrix Systems, Inc., Google, ownCloud GmbH, Intralinks Holdings, Inc., Onehub, Huddle, Tresorit, IBM Corporation, and SecureDocs, Inc. are key players of the global file sharing software market.
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