Pune, India, May 31, 2021 (GLOBE NEWSWIRE) — Market Analysis
The global file sharing market is highly lucrative and predicted to witness significant growth at a healthy 26.1% CAGR over the forecast period (2020 2026), reveals the Market Research Future’s (MRFR) file sharing market forecast report. A file sharing software, simply put, is a network-based software tool that allows the distribution or transfer of computer files among several people. This software allows transferring files between two systems in connected or the same network through the web. They allow transferring files between two users and enable multiple users to work simultaneously on a single file that is stored at a central location.
Enhancing Features that Bolster Market Growth
As per the MRFR report, there are numerous factors that are propelling the file sharing market size. These include the ability of file sharing to protect intellectual content and property, the ability to scale operations, which lead to many file sharing companies offering their services based on technology, ease of using cloud, accessibility of communication networking technologies such as 5G or 4G, development of file sharing platforms and apps due to expansion of network infrastructure, need for rapid and seamless transfer of files, and advances in digital technology like 5G technology. The additional factors that are adding to the global file sharing market share include increasing internet penetration, which has offered individuals and enterprises alike with an easy platform to share files quickly and store them safely, growing adoption of cloud technology, and increasing use for the rise in cyberattacks. Besides, the adoption of cloud computing will offer file sharing market opportunities as the cloud offers efficient and hassle-free sharing and synchronizing of storage and files.
On the flip side, the high price of file sharing software coupled with data security concerns for the involvement of third-party may impede the global file sharing market growth over the forecast period.
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COVID-19 Impact on the Global File Sharing Market
The ongoing COVID-19 crisis has compelled a major number of organizations to transform their education & workplaces digitally for effective operation. Enterprises that rest on the latest technologies such as cloud, artificial intelligence, and the internet of things were made to think again and advance their business for the upcoming days by advancing digital transformation to stay ahead in the competition. Following government-enforced lockdowns and physical distancing trends, companies that were not resistant to the distributed workforce concept too were forced to allow remote working while measures were undertaken to keep the virus in check. The growing digital workplace coupled with the mobile workforce trends had a positive impact on the file sharing industry growth. Besides, the constant need for the internet for the stay at home and trends to work from home too has fueled the demand for file sharing software from enterprises to manage as well as secure their data.
The Market Research Future report offers an inclusive analysis of the file sharing market based on end user, vertical, type, services, and deployment.
By type, the file sharing market has been bifurcated into peer to peer, system native, and client-server. Of these, the client server will dominate the market in the forecast period.
By deployment, the file sharing market has been bifurcated into on-premises & cloud. Among these, the cloud segment will lead the market over the forecast period.
By services, the file sharing market has been bifurcated into professional services & managed service. Among these, managed services will have the lion’s share in the market in the forecast period.
By end user, the file sharing market has been bifurcated into individual users, government, and enterprise users. Of these, enterprise users will spearhead the market in the forecast period.
By vertical, the file sharing market has been bifurcated into education and research, healthcare, media and entertainment, IT and telecommunication, BFSI, and others. Of these, the BFSI segment will rule the market in the forecast period.
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North America to Sway File Sharing Market
By region, the global file sharing market covers growth opportunities and the latest trends across Europe, the Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, North America will sway the file sharing market over the forecast period. The presence of several file sharing providers that offer services at an international and local level, growing adoption in the US, increasing urbanization, advances in digital technology, higher per capita disposable income, the ever-increasing number of BYOD users, adoption of cloud technology, need to share and transfer data quickly, remote working policies, and various collaborations, partnerships, and mergers, are adding to the global file sharing market demand in the region.
In Europe, the global file sharing market is predicted to hold the second-largest share over the forecast period, for the rise in the use of cloud-based solutions. The UK will have the utmost market share.
In the APAC region, the global file sharing market is predicted to have healthy growth over the forecast period. The rising number of enterprises adopting BYOD, advances in digital technology, and the rising purchasing power of the middle-class population are adding to the global file sharing market growth in the region.
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Notable Players Operating In The Global File Sharing Market Include:
- Citrix Systems Inc. (US)
- IBM Corporation (US)
- Securedocs Inc. (US)
- Tresorit (Hungary)
- Owncloud GmbH (Germany)
- Wetransfer (Netherlands)
- Alphabet Inc. (US)
- Intralinks Holdings Inc. (US)
- Onehub (US)
- Microsoft Corporation (US)
- Droplr (US)
- DropBox (US)
- Opendrive (US)
- Huddle (UK)
- BOX (US)
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