Symmetric encryption is a type of encryption in which a single key is used to both encrypt and decrypt the data. Whereas in asymmetric encryption approach public/private key pair is used to do the same. This rules out the risk of mishandling of the key as the public key is only shared with the clients and the private key is kept secret. Client can encrypt the data with the key and send the data securely over any standard data sharing protocols. At the receiver end, the private key is used to decrypt the data.
But the time to encrypt the data with asymmetric encryption grows significantly proportionately with the size of data. Here symmetric encryption does the job quite efficiently.