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Enterprise File Synchronization And Sharing (EFSS) Market Size, Share, Growth And Forecast Report 2023-2032
Enterprise File Synchronization And Sharing (EFSS) Market Report
The Business Research Company's Enterprise File Synchronization And Sharing (EFSS) Global Market Report 2023 identifies The increase in data security concerns as the major driver for the enterprise file synchronization and sharing market's growth in the forecast period. Data security is a crucial aspect of a complete security plan that includes recognizing, evaluating, and mitigating threats connected to sensitive data security. Many businesses are concerned about the security of their digital data. To safeguard the data, enterprise file-synchronization and sharing (EFSS) platforms integrate security features such as authentication, data encryption, containerization, and tracking. According to IBM's 2020 Cost of a Data Breach Report, data breach occurrences cost $8.64 million, the highest in the world, followed by the Middle East at $6.52 million. Furthermore, in 2021, Marriott International reported that hackers gained access to 5.2 million records including personal data of visitors through employee login information at one of their franchise facilities.
The global enterprise file synchronization and sharing (EFSS) market size will grow from $7.8 billion in 2022 to $9.86 billion in 2023 at a compound annual growth rate (CAGR) of 26.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the enterprise file synchronization and sharing (EFSS) is expected to grow to $25.16 billion in 2027 at a CAGR of 26.4%.
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Major competitors in the enterprise file synchronization and sharing market are Citrix Systems, Blackberry, Syncplicity by Axway, Egnyte, Nextcloud.
A key trend in the enterprise file synchronization and sharing market includes blockchain technology. Blockchain technology has emerged as a critical tool in the field of data security. Through cryptography, decentralization, and consensus that ensure the safe transaction of data, blockchain proactively stamps out cyber threats and strengthens security infrastructure. Major companies operating in the enterprise file synchronization and sharing (EFSS) sector are focusing on blockchain technology to protect EFSS-stored data from ransomware and breaches. For instance, in August 2021, Acronis International GmbH, a Switzerland-based software company, launched Cyber Protect Cloud for secure file sync and share solutions in an organization. Acronis's Cyber Protect Cloud uses blockchain-based data notarization and electronic signatures to enhance its workplace collaboration services with data security on a pay-as-you-go basis.
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The enterprise file synchronization and sharing market is segmented -
•By Component: Solutions, Services
•By Deployment Mode: On-Premises, Cloud
•By Application: Enterprise Content Management Systems, Enterprise Storage And Backup, Enterprise Document Collaboration, Enterprise Mobility, Other Applications
•By End-User: IT And Telecom, Banking, Financial Services and Insurance, Retail, Manufacturing, Education, Government, Other End Users
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the enterprise file synchronization and sharing market.
The Business Research Company's "Global Enterprise File Synchronization And Sharing (EFSS) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Enterprise File Synchronization And Sharing (EFSS) Market Include:
1. Executive Summary
2. Enterprise File Synchronization And Sharing (EFSS) Market Characteristics
3. Enterprise File Synchronization And Sharing (EFSS) Market Trends And Strategies
4. Enterprise File Synchronization And Sharing (EFSS) Market - Macro Economic Scenario
5. Enterprise File Synchronization And Sharing (EFSS) Market Size And Growth
……
26. Africa Enterprise File Synchronization And Sharing (EFSS) Market
27. Enterprise File Synchronization And Sharing (EFSS) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Enterprise File Synchronization And Sharing (EFSS) Market
29. Enterprise File Synchronization And Sharing (EFSS) Market Future Outlook and Potential Analysis
30. Appendix
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Organizations often adopt such…
