File Sharing Software Market Research Report Information - By Type (Client-Server, Peer to Peer), By Deployment Mode (Cloud), By End-user (Enterprises and Individual), By Vertical (Government, Healthcare, Media and Entertainment) - Global Forecast to 2027
Overview
The global file sharing software market is expected to have significant growth with a CAGR of 24.8% during the forecast period (2020-2027).
The market growth is attributed to the advancements in digital technology that enables the end user to share data seamlessly regardless of time and place. Major developments in the Internet of things (IoT) along with 5G technology and cloud computing offers better prospects for the file sharing software market. The file sharing software allows the employees to work from anywhere and anytime on their personal devices; this boosts employee productivity. Also, the employees are required to share a large amount of data seamlessly for working efficiently. The file sharing software offers a platform for such employees, and thus, the market is expected to grow at a significant rate.
Furthermore, cloud computing technology offers efficient sharing and synchronizing of files, images, video, and storage services. Enterprises, as well as individual users, are increasingly adopting cloud deployment to store and share files at a significant rate. Also, the adoption of bring your own device (BYOD) is also one of the fueling factors for the growth of the market. The growing concerns over data security due to third-party vendor involvement is the limiting factors for the growth of file sharing software market
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Competitive Analysis
According to MRFR analysis, the growth of the global file sharing software market is dependent on the market conditions. The key vendors in the global file sharing software market are Google (US), Dropbox Inc. (US), Microsoft Corporation (US), Box (US), Citrix Systems, Inc. (US), ownCloud GmbH (Germany), Intralinks Holdings, Inc. (US), Huddle (UK), Tresorit (Switzerland and Hungary), Onehub (US), IBM Corporation (US), SecureDocs, Inc. (US), Open Drive (US), Droplr (US), WeTransfer (Netherlands)..
Segmental Analysis
The file sharing software market has been classified into type, deployment-mode, services, end user, and vertical.
The type segment is further divided into system native, client-server, peer-to-peer, and others. The client-server segment accounted for the largest market share in 2017, and the peer-to-peer segment is expected to be the second largest market during the forecast period. Furthermore, the deployment segment is categorized into cloud and on-premise. The cloud segment is expected to dominate the market with the highest CAGR during the forecast period.
Additionally, the end-user segment has been segmented into enterprise user and individual user. The enterprise user segment is expected to dominate in 2017, and the individual user segment was valued with the higher CAGR during the assessment period.
Furthermore, the enterprise user is globally categorized into different verticals that include BFSI, healthcare, media and entertainment, IT & telecom, government, education and research, and others.
Regional Analysis
Geographically, the file sharing software market has been categorized into North America, Europe, Asia-Pacific (APAC), and the rest of the world (RoW).
North America is leading the file sharing software market. The market growth is attributed to the rising number of BYOD users, adoption of cloud technology, and the need for transferring and sharing data quickly. Various mergers, partnerships, and collaborations take place in the US market, making it significantly dynamic. Few instances include Dropbox Inc.’s strategic partnership with Zoom Video Communications in October 2018 and the partnership between Dropbox and Salesforce for business expansion in March 2018.
Asia-Pacific is presumed to be the fastest growing region in the file sharing software market. The market growth is attributed to a surge in the number of enterprises adopting BYOD. Furthermore, China is one of the major revenue generating countries in the Asia-Pacific file sharing software market. Although there is a penetration of foreign file sharing platform providers in the country, the local people mainly adopt the local file sharing platform to share files. The top local file sharing software includes Baidu cloud, WeChat, Wetransfer, NiHao Cloud, and Nutstore Shanghai Yicun Network Technology Co., Ltd
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