File Sharing Software Market Highlights:
The global file sharing software market is expected to have significant growth with a CAGR of 24.8% during the forecast period (2018-2023).
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 Market Analysis 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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Major Key Players:
Players leading the global file sharing software market include Dropbox (US), Google (US), Microsoft Corporation (US), Citrix Systems, Inc. (US), Box (US), ownCloud GmbH (Germany), Huddle (UK), Intralinks Holdings, Inc. (US), Tresorit (Switzerland), IBM Corporation (US), Onehub (US), SecureDocs, Inc. (US), Droplr (US), Open Drive (US), and WeTransfer (Netherlands), among others.
File Sharing Software Market Segmentations:
• The report segments the market into five key dynamics to widen the scope of understanding, By Type: Client Server, System Native, and Peer to Peer, among others.
• By Deployment Mode : Cloud-based Services and others.
• By End-user: Small, Medium, and Large Enterprises and Individual.
• By Vertical: Education, Banking & Insurance, Media & Entertainment, Telecommunication & Information Technology, and Utilities among others.
• By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
File Sharing Software Market Geographical Analysis:
The North American region is to retain its dominance over the global file sharing software market, heading with the presence of numerous technology giant. Factors such as the early adoption and constant innovations of technologies by the American and Canadian companies substantiate the growth of the market. Regionally, the US is the largest market for file sharing software in the regional market, followed by Canada and Mexico, respectively.
The European region takes the second lead in the global file sharing software market. Advancement in digital technologies alongside, the increasing demand for online file sharing and the rising adoption of BYOD across the industry verticals drive the regional market. Also, the presence of many industry giants is a key driving force for the file sharing software market in this region.
The Asia Pacific file sharing software market has emerged as a promising market, globally. The growth of the regional market attributes mainly to the uptake of the software in increasing number of businesses in the region to improve business productivity and efficiency.
Besides, a hub for BPOs and KPOs, the APAC is catering to various non-English spoken economies/regions, due to which the demand for the file-sharing software rises. Additionally, various dynamic & diversified international organizations that have shifted their bases in the APAC and the domestic organizations foster the growth of the regional market.
File Sharing Software Market Competitive Analysis:
Fiercely competitive, the file sharing software market appears to be fragmented due to the presence of several large & small key players. Through strategic initiatives such as acquisition, expansion, collaboration, and product & technology launch, market players try to gain a competitive advantage. They substantially invest in R&D to gain advantage over their competitors.
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Industry/ Innovation/Related News:
July 10, 2019 --- BitTorrent Inc. (the US), a software company and a subsidiary of one of the largest decentralized peer-to-peer networks across the globe TRON, announced the launch of its new software - BitTorrent Speed, specially designed for the help scaling up, uploading and downloading of files within the network.
The BitTorrent Speed will make it possible for millions of users to gain fast and uninterrupted access to files on the network while being rewarded for activity. With BitTorrent Speed, users can now download and upload large files rapidly without any hassle.