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  • 30+ Key Cloud File & Document Management Statistics: 2019 Data Analysis & Market Share

30+ Key Cloud File & Document Management Statistics: 2019 Data Analysis & Market Share

Category: B2B News

Data is the lifeblood of business and most businesses produce a staggering amount of data every day, doing so with any number of document management software applications concurrently operating any time of the day. If they are also reliant on the internet every day, they would have to subscribe to file sharing software to get their data reaching the hands of 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 response is via constant innovation, guided by what their 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 data and other document management/file sharing statistics show you which way to go when deciding how best to harness these technologies for your own document processing needs.

file sharing 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 with everything digital. Add in the explosive growth of AI tools and all the figures just explode exponentially. The speed of digital transformation is such that perhaps the immediate 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 USD 11 billion in 2028 from USD 3.28 billion in 2018. (Future Market Insights)
  • The file sharing market size is projected to reach USD 9.9 billion by 2023. (Market Research Future)
  • From 2018 to 20128, the global market for document management software is projected 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)

file sharing statistics

Impact of Document Management on Productivity Statistics

Helped by powerful business intelligence tools, multiple industries have evaluated the impact 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.

  • Document issues account for more than 21% of daily productivity loss. (Tech Crunchies)
  • Businesses waste an average of USD 20,000 on document issues. (Nitro PDF)
  • Workers spend 18 minutes searching for a document. (Tech Crunchies)
  • Workers spend an average of 50% of their time creating and preparing documents. (Nitro PDF)
  • Workers share an average of 6 documents daily. (Nitro PDF)
  • 92% of employees review and collaborate on documents via email. (Nitro PDF)

Productivity Losses Due To Manual Document Management

50%

Knowledge worker's time lost in preparing documents

21.3%

Overall staff productivity loss caused by document issues

92%

Professionals who collaborate using email and risk losing files

45%

Companies that report it takes a week to have a contract signed

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 percent of workers struggle with version issues daily. (Tech Crunchies)
  • 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)
  • 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)
  • 41% of sales organizations that use e-signatures say they are able to minimize proposal error rates. (Nitro PDF)
  • 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

Cost-Benefit of File Sharing Statistics

Apart from saving the planet and not earning the ire of the green advocates, document management and file sharing solutions have a real impact on your finances. Printing thousands of paper is not only ripe for confusion amid unending paper trails, but they also eat up more time than absolutely 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 USD 20 to file and store paper documents. (Ademero)
  • Finding and replacing lost paper documents cost businesses an average of USD 120. (Ademero)
  • On average, companies spend USD 20 on pickup service and USD 3 per box handling fee. (Ademero)
  • Businesses pay USD 20 for a regular delivery service and an additional USD 3 per box handling fee. (Ademero)
  • In case of special rush delivery, companies have to pay USD 50 and USD 3 per box handling fee. (Ademero)
  • As much as 7.5 percent of all paper documents get lost. (Record Storage Systems)

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)
  • Almost 80 percent of business owners would like the ability to access documents on the go. (Tech Crunchies)

Top Cloud Services Requested by Employees

File sharing

%

Communication

%

Social media

%

Content sharing

%

Enterprise content management

%

I.T. development

%

Marketing

%

Sales productivity

%

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 road 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 must be on board your business for nothing but pure leisure.

  • Over five years, investment in document management results in a 404% ROI. (Laserfiche)
  • Document management software can result in a 40% document-related cost reduction. (Laserfiche)
  • Document management software allows companies to save as much as USD 1-5 per document. (Laserfiche)

document management statistics

Cloud File Sharing Security Statistics

Despite the outstanding offerings of the leading IT security solutions, many businesses still find the world of the cloud too risky with its denizens of prowlers and outright cybercriminals. Security for sensitive, private information is already shaky at best, according to them, what more for critical asset information with millions of dollars value to them. Justified or not, you should carefully weigh your own decision. The following document management statistics could give you relevant clues in that direction.

  • 83% of enterprise workloads will be in the cloud by 2020. (Forbes)
  • A study shows that the majority of 4,000 businesses surveyed distrust cloud security. (Malwarebytes)
  • 50% of organizations say they will move their public cloud applications to a private cloud or non-cloud system. (CRN)
  • 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

11%

Documents shared outside of the company

9%

Files shared externally with sensitive data

18%

Collaboration requests that went to third-party email addresses

Source: McAfee Cloud Security University

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It Pays to Know Where Technology Is Heading

Industry and technology vigilance rewards many businesses, not only for getting updated on best practices but also on the next technological offerings that could give you a tremendous lift to surge ahead in today’s ultra-competitive markets. Leveraging what the best document management software 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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