Enterprise File Synchronization and Sharing (EFSS) Market 2021 Highlights Recent Trends, Market Growth, Business Opportunities till 2026

The Enterprise File Synchronization and Sharing (EFSS) Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Enterprise File Synchronization and Sharing (EFSS) market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Enterprise File Synchronization and Sharing (EFSS) market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Enterprise File Synchronization and Sharing (EFSS) market.

The global enterprise file synchronization and sharing market was valued at USD 5.29 billion in 2020 and is expected to reach USD 21.27 billion by 2026 and grow at a CAGR of 26.3% over the forecast period (2021-2026). 

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Top Leading Companies of Enterprise File Synchronization and Sharing (EFSS) Market are - Box, Inc., Citrix Systems, Inc., Dropbox Inc., Microsoft Corporation, Google, Inc. (Alphabet Inc.), IBM Corporation, Watchdox Inc. (BlackBerry Limited), VMware Inc. (Dell Technologies), Thru Inc., SugarSync Inc., Qnext Corp., Acronis Inc., CTERA Networks Inc. and others.

Industry News and Updates:

- June 2020 - Jordan Kuwait Bank implemented Citrix Virtual Apps and Desktops across its 64 branches throughout Jordan and Cyprus. The solutions allow it to remain operational and offer its SME and corporate customers financial services to manage critical imports and continue trading seamlessly while the country remains in lockdown.

- May 2020 - Box Inc. introduced the All-New Box experience to power increased productivity and collaboration. The All-New Box experience features a simplified, redesigned user interface that enables personal productivity by making it easier to navigate Box than ever before.

Key Market Trends:

BFSI to Account for the Significant Market Share

- The capital-intensive financial institutions generally have multiple lines of businesses, which led to several disconnected technology solutions into the functions. This has created a demand for unified applications within the overall organization.
- Most of the BFSI players invest in EFSS to develop mission-critical banking solutions for risk assessment and mitigation in the business prospects preventing least data breaches. For instance, Sun Trust gives customer data and compliance the security as a primary priority and, therefore, employs multiple solutions from Box Inc. to unify processes. This has resulted in reduced cost and agility among Sun Trust’s team to commercialize products and services faster.

North America is Expected to Hold Major Share

- The region is home to significant markets for managed services, professional services, cloud, IT and telecom, and retail, due to the presence of countries such as the United States and Canada. The United States holds a significant share in the IT and telecom and its supporting sectors, which may grow even further over the forecast period. The penetration of BYOD and smart device across the world is significantly driving the market growth for EFSS. The United States holds a prominent share in smart device sales.
- The region's demand for managed services is another driving factor for EFSS, as more and more enterprises opt for outsourcing non-core functionalities. The region is also home to significant vendors in managed services space, and such vendors are growing even further to increase their capabilities. For example, in November 2019, Apollo Global is eyeing Tech Data acquisition with a deal valued at worth about USD 6 billion.

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Enterprise File Synchronization and Sharing (EFSS) Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Enterprise File Synchronization and Sharing (EFSS) Market (%),2016 - 2026
- Enterprise File Synchronization and Sharing (EFSS) Market Share, By Brand
- Enterprise File Synchronization and Sharing (EFSS) Market Share, By Company
- Enterprise File Synchronization and Sharing (EFSS) Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Enterprise File Synchronization and Sharing (EFSS) Market Value Analysis & Forecast
- Promising Enterprise File Synchronization and Sharing (EFSS) Development by Major Companies
- Detailed Enterprise File Synchronization and Sharing (EFSS) Portfolio of the Major Companies
- Major Deals in the Enterprise File Synchronization and Sharing (EFSS) Market
- Major Companies Analysis

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