Overview
The global file sharing software market was valued at USD 4,033.0 million, and it is projected to exhibit a 26.1% CAGR during the forecast period, 2020-2026.
A file sharing software is a network-based software tool that enables the transfer or distribution of computer files among multiple people. The software allows the transfer of files between two systems in the same network or connected through the web. These software tools enable the transfer of files between any two users and allow multiple users to work simultaneously on a single file stored at a central location.
The global file sharing software market is characterized by the presence of many global, regional, and local players. The market is competitive, with all the players competing to gain maximum market share. Strong competition and increasing adoption of innovative technologies such as cloud, IoT, and AI, are key factors that confront the global market growth. The vendors compete in terms of cost, product quality, reliability, and after-sales services. It is crucial for the vendors to provide cost-efficient and high-quality services to survive and succeed in an intensely competitive market.
Regional Analysis
The geographic analysis of the file sharing market has been conducted for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.
North America is the major region in terms of market share in the file sharing market. The regional market is characterized by the presence of many file sharing providers that offer their services at a local and international level.
The US is the leading market in North America due to increasing urbanization, advancements in digital technology, and higher per capita disposable income. The ever-increasing number of BYOD users, the adoption of cloud technology, remote working policies, and the need to transfer and share data quickly are some of the major factors driving the adoption of file-sharing software. 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. Furthermore, in July 2019, Dropbox announced the launch of a new service, namely Dropbox Transfer. The services aimed to provide a secure and quick way to send several files up to 100 GB. Additionally, in July 2018, Google partnered with Virtru, a provider of data privacy solutions and data protection, to deliver customers with end-to-end encryption for Google Drive.
For analysis purposes, Europe has been segmented into the UK, Germany, France, and the rest of Europe. According to WGR analysis, the UK is expected to gain the highest market share, followed by Germany, France, and the rest of Europe. The increase in the usage of cloud-based solutions is one of the factors responsible for market growth.
For Asia-Pacific, the increasing number of enterprises adopting BYOD and advancements in digital technology are the main factors boosting the growth of the regional market; the increasing purchasing power of the middle-class population is also likely to play a significant role in driving the market growth
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).
Segmental Analysis
The global file sharing market has been segmented based on type, deployment, services, end user, vertical, and region.
By type, the global file sharing 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 CAGR of 26.2% during the forecast period
Based on deployment, the global file sharing market is segmented 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
Based on services, the global 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 CAGR of 26.3% during the forecast period
Based on end user, the global file sharing market has been segmented into enterprise user, individual user, and government. The enterprise user segment accounted for the largest market share in 2018.
Based on vertical, the global file sharing market has been classified into BFSI, healthcare, IT & telecommunication, education & research, media & entertainment, and others. The BFSI segment accounted for the largest market share in 2018
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