The size of the file sharing market will reach USD 4,033 million with a
Pune, India, May 31, 2021 (GLOBE NEWSWIRE) – Market analysis
The Global File Sharing Market is highly lucrative and is expected to experience significant growth at a healthy CAGR of 26.1% during the forecast period (2020-2026), Market File Sharing Market Forecast Report Reveals Research Future (MRFR). File sharing software, in simple terms, is a network-based software tool that enables the distribution or transfer of computer files among multiple people. This software allows files to be transferred between two connected systems or on the same network via the Web. They allow files to be transferred between two users and allow multiple users to work simultaneously on a single file stored in a central location.
Improved features that drive market growth
According to the MRFR report, there are many factors propelling the size of the file sharing market. These include the ability of file sharing to protect content and intellectual property, the ability to scale operations, which is leading many file sharing companies to come up with their technology-based services, ease of use. use of the cloud, accessibility of communication network technologies such as 5G or 4G, development of file sharing platforms and applications due to the expansion of network infrastructure, the need for fast and transparent file transfer and advancements in digital technology like 5G technology. Additional factors adding to the global file sharing market share include increasing internet penetration, which has provided individuals and businesses with a simple platform to quickly share files and store them securely. , the increasing adoption of cloud technology and the increasing use for the ramp-up. in cyber attacks. In addition, the adoption of cloud computing will provide file sharing market opportunities as the cloud offers efficient and hassle-free sharing and synchronization of storage and files.
On the other hand, the high price of file sharing software coupled with data security issues for third party involvement may hamper the growth of the global file sharing market during the forecast period.
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Impact of COVID-19 on the Global File Sharing Market
The current COVID-19 crisis has forced a large number of organizations to digitally transform their education and workplaces to operate effectively. Companies that rely on the latest technologies such as cloud, artificial intelligence and the Internet of Things have been made to think again and take their business forward for days to come by advancing digital transformation for stay ahead of the competition. Following government-imposed lockdowns and physical distancing trends, companies that were not resistant to the concept of a distributed workforce were also forced to allow remote working while action was taken. to control the virus. The growth of the digital workplace, coupled with trends in the mobile workforce, has positively impacted the growth of the file sharing industry. In addition, the constant need for the Internet to stay at home and the trends in working from home have also fueled the demand for file sharing software from companies to manage and secure their data.
Market Research Future report offers an exhaustive analysis of the File Sharing market based on end user, vertical, type, services and deployment.
By Type, the File Sharing market has been divided into Peer to Peer, Native System, and Client-Server. Among these, the client server will dominate the market during the forecast period.
Through the deployment, the file sharing market has been divided into two categories: on-premises and in the cloud. Among these, the cloud segment will dominate the market during the forecast period.
By services, the file sharing market has been divided into professional services and managed services. Of these, managed services will occupy the lion’s share of the market during the forecast period.
By end user, the file sharing market has been split between individual users, governments, and businesses. Among these, enterprise users will spearhead the market during the forecast period.
By vertical, the file sharing market has been divided into two categories: education and research, healthcare, media and entertainment, IT and telecommunications, BFSI and others. Among these, BFSI segment will reign in the market during the forecast period.
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North America to Influence File Sharing Market
By region, the global file sharing market covers growth opportunities and latest trends in Europe, Asia-Pacific (APAC), North America, South America, and Middle East & Africa (MEA) . Among these, North America will influence the file sharing market during the forecast period. The presence of several file-sharing providers that provide services internationally and locally, the growing adoption in the United States, increasing urbanization, advancements in digital technology, higher disposable income per capita, the number of ever increasing BYOD users, adoption of cloud technology, need to share and transfer data quickly, remote working policies and various collaborations, partnerships and mergers, add to the demand of the global file sharing market In the region.
In Europe, the global file sharing market is expected to hold the second largest share during the forecast period, for the increase in the use of cloud-based solutions. The UK will have the largest market share.
In APAC region, the global file sharing market is expected to experience healthy growth during the forecast period. The growing number of companies adopting BYOD, advancements in digital technology and the growing purchasing power of the middle class population are contributing to the growth of the global file sharing market in the region.
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Notable players operating in the global file sharing market include:
- Citrix Systems Inc. (United States)
- IBM Corporation (United States)
- Securedocs Inc. (United States)
- Tresorit (Hungary)
- Owncloud GmbH (Germany)
- Wetransfer (Netherlands)
- Alphabet Inc. (United States)
- Intralinks Holdings Inc. (United States)
- Onehub (United States)
- Microsoft Corporation (United States)
- Droplr (United States)
- DropBox (United States)
- Opendrive (United States)
- Huddle (United Kingdom)
- BOX (US)
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