File Sharing Software Market Business Strategy and Industry Segments Poised for Strong Growth in Future 2030
Market Overview
The global file sharing market was valued at USD 4.12 Billion, and it is projected to exhibit a 8.24% CAGR during the forecast period, 2020–2026. [In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.
The global market for file sharing has been segmented based on deployment, type, services, end user, industry vertical, and region. By type, the global market has been further segmented into client server, peer-to-peer, system native, and others. The services segment is bifurcated into professional service and managed services. By deployment type, the global market has been bifurcated into cloud and on-premise. The cloud segment held the larger market share of 73.5% in 2019 and is expected to register a 26.4% CAGR by 2026. By end user, the global market has been segmented into individual, government, and enterprise. The enterprise user segment held the largest market share of 85.1% in 2019 and is expected to register a 25.9% CAGR by 2026. By vertical, the global market has been segmented into BFSI, media & entertainment, IT & telecom, education & research, healthcare, and others. The BFSI segment accounted for the largest market share in 2019, whereas the others segment is projected to register the highest CAGR over the review period.
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Segmental Analysis
The global File Sharing Software Market Share has been segmented based on type, deployment, services, end user, vertical, and region.
By type, the global 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 26.2% CAGR during the forecast period. Client-server file sharing is based on a client-server architecture where all data are stored in a central location (server), and file transfers between the computers (clients) are done using the server. This usually makes use of a webpage, FTP, cloud system, or emails. The peer-to-peer segment is projected to register the highest during the forecast period. These types of file sharing tools directly transfer files between two computers without using a central server. In this type of program, the computers are itself utilized as node servers. In this case, big files are broken down into smaller chunks before being sent, and at the receiver’s end, the chunks are reassembled while downloading.
Based on deployment, the global file sharing market is divided 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. A cloud-based file sharing platform enhances the security and performance of managed file transfer (MFT) servers with lower cost and flexible cloud solution. Furthermore, the cloud-based file sharing solution is available as monthly subscriptions, depending upon the usage. It also helps reduce the cost associated with the maintenance of the file server. Cloud-based file-sharing services include Amazon Workbooks, Apple iCloud Drive, Box, Dropbox, Egnyte, File cloud, Google Drive, and Microsoft OneDrive for Business.
Based on services, the 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 26.3% CAGR during the forecast period. Professional file sharing services streamline business operations and its overall productivity and efficiency. The service providers offer content management services and provide training and onsite installation services with a professional services team to ensure the successful deployment of file-sharing software. Additionally, some companies assign a technical professional for assistance throughout the entire duration of the project. It enables organizations to manage files securely and safely and allows effortless and quick file transfer or uploads.
Based on end user, the file sharing market has been classified into enterprise user, individual user, and government. The enterprise user segment accounted for the largest market share in 2018. Enterprises are the major users of file sharing software. Various verticals, such as BFSI, media & entertainment, research & educational institutes, IT & telecom, healthcare, and government, are the major end users of file-sharing software tools. The enterprises are making use of file sharing for improving operational efficiency.
Based on vertical, the File Sharing market has been classified into BFSI, healthcare, IT & telecommunication, education & research, media & entertainment, and others. In 2018, the BFSI segment held the largest market share. However, the others segment is projected to register the highest CAGR during the forecast period. Digitalization has taken place in the BFSI sector across the globe. FINTECH sector has started growing on a large scale. Financial services companies are readily adopting new offerings to differentiate themselves from their competitors. A file sharing software helps employees of the BFSI enterprises to work and share files remotely. Moreover, it also safeguards the data of the company against external leaks and threats using compliance tools. Usually, BFSI companies prefer on-premises based deployment, but the growth rate of cloud-based deployments is growing.
Competitive Analysis
The key players operating in the global file sharing market include IBM Corporation (US), Alphabet Inc. (US), DropBox (US), Microsoft Corporation (US), BOX (US), Citrix Systems Inc. (US), Owncloud GmbH (Germany), Intralinks Holdings Inc. (US), Huddle (UK), Tresorit (Hungary), Onehub (US), Securedocs Inc. (US), Opendrive (US), Droplr (US), and Wetransfer (Netherlands).
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Regional Analysis
The file sharing market has been divided into—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America was leading the file sharing market in 2018. Asia-Pacific is predicted to be the fastest-growing market from 2018 to 2026. Additionally, Europe is expected to hold the second position in the File Sharing market in terms of share during the assessment period.
North America is predicted to be the largest contributor to the file sharing software market. This includes the US, Canada, and Mexico. According to WGR analysis, the US is expected to account for the highest market share, followed by Canada and Mexico. Some of the factors responsible for the growth of the market include advancement in digital technologies with the increasing need for online file sharing and the rising adoption of BYOD across industry verticals.
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