Enterprise File Synchronization and Sharing (EFSS) Market: Size, Demand, Volume, Top Players and Forecasts to 2027

The Enterprise File Synchronization and Sharing (EFSS) market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Enterprise File Synchronization and Sharing (EFSS) Market share and Market size prominent players for 2020 to 2027 are profiled in this report.

Competitive Landscape: 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:

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.

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Scope of the Report:

The Enterprise File Synchronization and Sharing (EFSS) Market is expected to register a CAGR of 26.3% over the forecast period 2022 - 2027.

Businesses use EFSS to improve content management, collaboration, secure file sharing, and include features such as live commenting, document version tracking, and workflow process management to help users store, edit, review, and share files. Additionally, it also offers the option to track and trace the document related to any invoice or order in auditing. Large enterprises that utilize EFSS require the flexibility to add their access policies that govern the organization's accessibility to access specific content. These products include security capabilities, such as authentication, data encryption, containerization, and tracking features to protect enterprise data. Enterprises have been trying to improve their internal work efficiency by saving their employees time consumed in collaboration, as these solutions enable real-time collaboration and sharing of ideas.

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 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.

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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.

Regional Analysis for Enterprise File Synchronization and Sharing (EFSS) Market:

North America, Latin America, Asia-Pacific, Africa, Europe, and others have been studied at length based on various parameters of businesses such as type, size, application, and end-users.  The global Enterprise File Synchronization and Sharing (EFSS) Market is presented for niche reading. The report presents portfolios of different strategies and the best practices governing businesses. Some applicable sales methodologies have been included in this research report, that could influence business output.

Highlights about Enterprise File Synchronization and Sharing (EFSS) report coverage:

- A complete background analysis, which includes an assessment of the Global Enterprise File Synchronization and Sharing (EFSS) Market.

- Important changes in Enterprise File Synchronization and Sharing (EFSS) market dynamics

- Enterprise File Synchronization and Sharing (EFSS) Market segmentation up to the second & third level regional bifurcation

- Historical, current, and projected size of the Enterprise File Synchronization and Sharing (EFSS) market with respect to both value (Revenue) and volume (Production & Consumption)

- Reporting and evaluation of recent Enterprise File Synchronization and Sharing (EFSS) industry developments

- Enterprise File Synchronization and Sharing (EFSS) Market shares and strategies of key players

- Emerging niche Enterprise File Synchronization and Sharing (EFSS) segments and regional markets

- An objective assessment of the trajectory of the Enterprise File Synchronization and Sharing (EFSS) market

- Recommendations to companies for strengthening their foothold in the Enterprise File Synchronization and Sharing (EFSS) market

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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