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  • 67 Cloud File & Document Management Statistics You Must Know: 2019 & 2020 Data Analysis & Market Share

67 Cloud File & Document Management Statistics You Must Know: 2019 & 2020 Data Analysis & Market Share

Category: B2B News

Data is the lifeblood of businesses, most of whom produce a staggering amount of data every day, doing so with any number of document management software applications concurrently operating at any time. If they are also reliant on the internet every day, they would have to subscribe to file-sharing software to get their data to their remote or mobile workers. Under any of these scenarios, time, bandwidth stability, uptime reliability, and speed are of the essence.

How are the old and new document management systems and file-sharing programs coping with these? The easy answer is via constant innovation, guided by customers’ demand. If you are one of these businesses, you will also need to get your hands on those applications that now feature more extensive collaboration, analytics, tighter security, and more powerful automation to streamline many redundant processes.

Here, we present the next level of data, beyond document management and file-sharing software market share. These figures and other document management/file sharing statistics will guide you on how to best harness these technologies for your own document processing needs.

key cloud document management statistics

Document Management Global Market Statistics

Even as Industry 4.0 beckons and 5G technology is closing down upon us, both document management and cloud file sharing market shares are skyrocketing, along with everything digital. Add in the explosive growth of AI tools, and the figures explode exponentially. The speed of digital transformation is such that perhaps the next generations ahead will need to be explained about how pen drives and DVDs/CDs once ruled the data transfer world.

  • The global market for document management software will grow to $11 billion in 2028, from $3.28 billion in 2018. (Future Market Insights)
  • Worldwide document management systems market revenue is expected to reach $6.78 billion by 2023. (Statista)
  • By 2028, the global document management software market is predicted to reach $11.06 billion. (Market.us)
  • The file-sharing market size is projected to reach $9.9 billion by 2023. (Market Research Future)
  • From 2018 to 2028, the global market for document management software is expected to expand at a CAGR of 12.3%. (Future Market Insights)
  • The global file-sharing software market size is projected to grow at 24.8% CAGR from 2017 to 2023. (Market Research Future)
  • By 2025, the total volume of data produced will increase to 163 zettabytes (equal to 1 trillion gigabytes). Most of these will be made and managed by businesses. (IDC)

file sharing statistics

Impact of Document Management on Productivity Statistics

Helped by powerful business intelligence tools, multiple industries have evaluated the effects of document management and file-sharing software, and the results can be found just about anywhere.

If you still handle files along the lines of the Jurassic era, the following numbers should more than explain why you need to think about your document strategies right now.

Enterprise Document Management

  • 81% of employees raised the need for mobile access to company documents. (M-Files)
  • 92% of employees review and collaborate on documents via email. (Nitro PDF)
  • 88% of office workers cited the need for a dependable, unified search platform that would help them do their jobs better. (SmallBizTrends)
  • Businesses waste an average of $20,000 on document issues. (Nitro PDF)
  • 95% of business information documentation is still paper-based. (InfoRouter)
  • 82% of employees welcome the idea of having an automated software solution to name and tag office documents. (SmallBizTrends)
  • Workers spend an average of 50% of their time creating and preparing documents. (Nitro PDF)
  • 83% of employees must recreate existing documents since they can’t find them in their company network. (M-Files)
  • Over half of businesses oppose the use of personal devices for work-related tasks. (SmallBizTrends)
  • Workers share an average of six documents daily. (Nitro PDF)

Document Management Challenges

  • Document issues account for more than 21% of daily productivity loss. (Tech Crunchies)
  • 65% of staff experience challenges when checking and approving office documents. (M-Files)
  • 86% of employees say that they usually experience difficulty searching for office files when they need to. (SmallBizTrends)
  • Workers spend 18 minutes searching for a document. (Tech Crunchies)
  • 74% of employees can’t electronically sign documents using a mobile device. (SmallBizTrends)
  • 46% of employees say it’s time-consuming and challenging to find the documents they need. (M-Files)
  • 64% of employees experience difficulty and consume considerable time finding office documents using a mobile device. (SmallBizTrends)

Productivity Losses Due To Manual Document Management

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Source: nitro blogs

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E-Signature Statistics

E-signature systems have been around for some time, but many businesses will probably not realize what or how much revenue they are missing until now. If you think you are ready to level up, you will be happy to know that a look at the leading document management tools will get you up and running in no time.

  • As much as 83% of workers struggle with version issues daily. (Tech Crunchies)
  • E-signatures provide up to 83% productivity enhancement in obtaining approvals and 86% savings in documentation expenses. (ESRA)
  • The use of e-signatures can cut turnaround time by around 80%. (Tech Crunchies)
  • 45% of companies say that it takes over a week to get a contract signed. (Ademero)
  • In the finance industry, electronic signature allows companies to hamper file mishandling by 66% and lessen scanning mistakes by 92%. (OneSpan)
  • As much as 75% of large organizations do not have PDF editors. (Ademero)
  • 72% of leading businesses say that the use of e-signatures boosted their customer renewal rates. (Nitro PDF)
  • After adopting e-signature and other digital technologies, companies can gain 70%-80% efficiency enhancements. (Forbes)
  • 41% of sales organizations that use e-signatures say they can minimize proposal error rates. (Nitro PDF)
  • Among electronic signature business users, 81% of businesses that use e-signatures achieve ROI in one 12-month budget period. Twenty-five of those with effective e-signature use can do so within three months or less. (AIIM)
  • Users of e-signature report closing 17% more deals than non-users. (Nitro PDF)
  • Businesses that adopt e-signature say that they gain 41% stronger year-on-year revenue growth than non-users. (Nitro PDF)

file sharing statistics

Most Popular Document Management Software

  1. PandaDoc. This comprehensive online document management solution is a top choice for large or small businesses, even among individual users. You can read more about it in our PandaDoc review.
  2. Backlog. A document management software that can address the needs of developers as well as non-tech-savvy users. Refer to this Backlog review for more information.
  3. eFileCabinet. A secure document management solution designed to help businesses reduce and even eliminate traditional paper-based processes. Our eFileCabinet review discusses its key features and other important details.
  4. Templafy. Robust, customizable document management solution designed to support the branding needs of businesses. Read more about this award-winning solution in our Templafy review.
  5. Samepage. A feature-packed document management platform for teams that require an extensive array of collaboration tools. For more details, check this Samepage review.

Cost-Benefit of File Sharing Statistics

Apart from saving the planet and not earning the ire of green advocates, document management and file sharing solutions have a real impact on your finances. Printing thousands of paper is not only a recipe for confusion amid unending paper trails, but they also eat up more time than necessary.

Features found in the leading marketing automation systems are now fully incorporated in many of these document management platforms, making them indispensable for businesses that are watching the industry goings-on.

  • Companies spend an average of $20 to file and store paper documents. (Ademero)
  • 92% of knowledge workers still use traditional document collaboration practices. (Harris Interactive/Perforce)
  • Finding and replacing lost paper documents cost businesses an average of $120. (Ademero)
  • It costs $0.55 to mail a single-sided 10-page letter. It will only cost $0.33 to mail the same letter using five sheets printed on both sides. (Minnesota Office of Environmental Assistance)
  • On average, companies spend $20 on pickup service and $3 per box handling fee. (Ademero)
  • As much as 7.5% of all paper documents get lost. (Record Storage Systems)
  • Businesses pay $20 for a regular delivery service and an additional $3 per box handling fee. (Ademero)
  • 83% of today’s workforce waste time due to document versioning issues daily. (Harris Interactive/Perforce)
  • In case of special rush delivery, companies have to pay $50 and $3 per box handling fee. (Ademero)

file sharing statistics

Cloud File User Needs & Wants Statistics

An increasingly globalized economy demands that businesses can square with their clients and workers from any point in the world. This could only be possible with the growth of powerful devices and internet connections that are not only becoming truly ubiquitous but also throwing away the speed shackles of yesteryears.

But these in themselves are also of no use until the top communication tools joined in the fray, making it possible for you and your partners or employees to be on the same page 24/7.

  • 77% of business owners want to access files remotely. (Record Storage Systems)
  • 88% of IT executives agree that compliance is the biggest obstacle to increasing cloud adoption in their firms. (Logicworks/Wakefield Research)
  • 47% of enterprises migrate to cloud to mainly due to achieve cost optimization. (Opsramp/Directive)
  • By 2021, cloud data centers will process 94% of overall global business workloads–most of which relate to document processing. (Cisco)
  • On average, businesses run 41% of workloads in private cloud and 38% public cloud. (RightScale)
  • 75% of all cloud computing and workloads will be using SaaS apps by 2021. (Cisco)
  • In 2019, businesses estimate up to 27% of their cloud computing budget will be wasted due to poor management. (RightScale)
  • Almost 80% of business owners would like the ability to access documents on the go. (Tech Crunchies)
  • Among SMBs, 35% run their workloads in private cloud, 43% in public cloud. (RightScale)

Top Cloud Services Requested by Employees

Top Cloud Services Requested by Employees
File sharing: 80

File sharing

%
Top Cloud Services Requested by Employees
Communication: 40

Communication

%
Top Cloud Services Requested by Employees
Social media : 38

Social media

%
Top Cloud Services Requested by Employees
Content sharing : 27

Content sharing

%
Top Cloud Services Requested by Employees
Enterprise content management: 20

Enterprise content management

%
Top Cloud Services Requested by Employees
I.T. development: 20

I.T. development

%
Top Cloud Services Requested by Employees
Marketing: 20

Marketing

%
Top Cloud Services Requested by Employees
Sales productivity : 18

Sales productivity

%
Top Cloud Services Requested by Employees
Business intelligence: 16

Business intelligence

%

Source: McAfee Cloud Security University

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Document Management ROI Statistics

Observing diligence over KPI metrics not only helps companies find the right path to steer their businesses, but it also prevents them from falling into financial holes that they might not be able to get out of. If your mouth or eyes do not water over these figures, you may be lagging behind the latest developments.

  • Over five years, investment in document management results in a 404% ROI. (Laserfiche)
  • Healthcare firms’ administrative costs–most of which pertain to paperwork like records, billing, and insurance–account for over 25% of total expenses. (HealthAffairs)
  • Document management software can result in a 40% document-related cost reduction. (Laserfiche)
  • Using document management solutions allow companies to reduce errors by up to 30%. (Aberdeen Group)
  • Document management software lets companies save as much as $1 to $5 per document. (Laserfiche)
  • File management systems enable a total of 10% decrease in overall document processing expenses. (Aberdeen Group)

document management statistics

Cloud File Sharing Security Statistics

Despite the outstanding offerings of today’s leading IT security solutions, many businesses still find the world of the cloud too risky with its resident prowlers and outright cybercriminals. Security for sensitive, private information is already shaky at best, according to them, what more for critical asset information that could cost them millions of dollars if lost.

Justified or not, you should carefully weigh your decision. The following document management statistics should give you relevant clues in that direction.

  • 83% of enterprise workloads will be in the cloud by 2020. (Forbes)
  • 69% of IT executives think cloud security regulations will change by 2020. (Logicworks/Wakefield Research)
  • A study shows that the majority of 4,000 businesses distrust cloud security. (Malwarebytes)
  • Almost 66% of organizations consider security as the greatest challenge to cloud adoption. (Logicmonitor)
  • 50% of organizations say they will move their public cloud applications to a private cloud or non-cloud system. (CRN)
  • 33% of IT decision-makers predict that these changes will make compliance more expensive. (Logicworks/Wakefield Research)
  • 47% of cloud providers and 62% of cloud users view sensitive financial information as too risky for the cloud. (Ponemon Institute)

Red Flags in File Sharing

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Source: McAfee Cloud Security University

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It pays to know where technology is heading

Industry and technology vigilance reward many businesses, not only by getting updated on best practices, but also on the next technological offerings that could give you a tremendous lift to stay ahead in today’s ultra-competitive markets.

Leveraging what the best document management solution could do, for example, will help your business a lot in terms of time-saving, faster collaboration, seamless automation of multiple workflows, and critical security, among many others.

By Nestor Gilbert

Senior writer for FinancesOnline. If he is not writing about the booming SaaS and B2B industry, with special focus on developments in CRM and business intelligence software spaces, he is editing manuscripts for aspiring and veteran authors. He has compiled years of experience editing book titles and writing for popular marketing and technical publications.

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