Enterprise File Synchronization and Sharing Market - What Factors will drive the Market in Upcoming Years and How it is Going to Impact on Global Industry?

The major contributing factor for the growth of the market for Enterprise File Synchronization and Sharing can be the focus of enterprises and government for secured sharing of information. For more secured sharing, it is necessary to use New Unified File Management Solutions.

Market Size - USD 3.1 billion in 2018, Market Growth - CAGR of 19.8%, Market Trends -Increasing demand for cloud-based solutions.

The Enterprise File Synchronization and Sharing market is expected to grow from USD 3.1 billion in 2018 to USD 11 billion by 2026, at a CAGR of 19.8% during the forecast period. Focus of enterprises and government for secured sharing of information, rise in digitized workplaces & mobile workforce and the increasing need for interaction between employees and the organizations are some of the driving factors of the market. For instance, Governments of all countries are majorly focusing on adopting e-governance, i.e., the use of information and communication technology for government services, information exchange, communication transactions, integration of various stand-alone systems and services between government and citizen, business, government and employees.

This is the only report that is inclusive of the current effect of the coronavirus on the market and its forecasted trend. The coronavirus has impacted all sectors of the world economy, and its impacts on the Enterprise File Synchronization and Sharing market are elucidated in-depth in this report.

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Key players with in Enterprise File Synchronization and Sharing market are CodeLathe (FileCloud) (US), Box (US), Dropbox (US), Syncplicity by Axway (US), Egnyte (US), BlackBerry (Canada), IBM Aspera (US), VMware (US), Google (US), Acronis International (Switzerland), OpenText (Canada), Thru. Inc. (US), Citrix Systems (US), Accellion (US), j2 Global (SugarSync) (US), SkySync (US), HighQ Solutions (UK), Nextcloud (Germany), ownCloud (Germany), Intralinks (US), Microsoft (US), Qnext (FileFlex) (Canada), XMedius Solutions (Canada), Northbridge Secure Systems (Australia), Inspire-Tech (Singapore/US), MyWorkDrive by Wanpath LLC (US), and CTERA Networks (Israel/US).

For the purpose of this report, the market has been segmented on the basis of deployment type, component, organization size, industry vertical and regional analysis.

Deployment type Outlook (Revenue, USD Million; 2018-2026)
Cloud
On-Premises

Component Outlook (Revenue, USD Million; 2018-2026)
Standalone EFSS Solution
Integrated EFSS Solution
Services

Organization size (Revenue, USD Million; 2018-2026)
Large Enterprises
Small and Medium-Sized Enterprises

Industry vertical Outlook (Revenue, USD; 2018-2026)
Banking, Financial Services, and Insurance
Software and Technology
Government and Public Sector
Healthcare
Legal
Education
Retail
Media and Entertainment
Others

The report covers and elucidates how the market fares in the different regions of the world; the regions included in this study are:
Regional Analysis:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
The regions are assessed on their capacities to transform into areas where the Enterprise File Synchronization and Sharing market can flourish and prosper. As of the present speculations, North America and the Asia Pacific region are expected to show exponential growth and expansion. With Europe and Latin America developing a market for the Enterprise File Synchronization and Sharing.

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Further key findings from the report suggest

The Enterprise File Synchronization and Sharing market is expected to grow from USD 3.1 billion in 2018 to USD 11 billion by 2026, at a CAGR of 19.8% during the forecast period.

The enterprise file synchronization and sharing market is segmented by deployment type into cloud and on-premises. The cloud deployment type is expected to witness highest growth, at a CAGR of approximately 20.2% in the forecast period, due to its high demand by organizations, since it provides many benefits like affordable, scalability, reliability, flexibility, and remote location access.

The Enterprise File Synchronization and Sharing Market is segmented by component into Standalone EFSS solutions, Integrated EFSS solutions and services. Integrated EFSS solutions is expected to grow with the highest CAGR of approximately 20.6% in the forecast period, since it is adapted by most of the enterprises due to the range of services available such as, third-party business applications like Enterprise Content Management (ECM), Microsoft office, and information rights management.

The Enterprise File Synchronization and Sharing Market is segmented by Geography into North, America, Europe, Asia Pacific and Rest of the World. North America, being a developed region, dominates the market, with market share of approximately USD 1 Billion in the base year, since it focuses on utmost security and is readily adopting new and advanced technologies.

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In the end, the report covers segment data, including industry segment, type segment, channel segment, etc., as well as the segments' market size, both in terms of volume and value. In addition, the report mentions client data from different industries, which is vital to manufacturers. The report has been collated with in-depth secondary research, comprehending the market access aspects across various geographies.

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