Enterprise File Synchronization and Sharing (EFSS) Market Forecast to Experience Massive Growth During Forecast Period 2032

Introducing the Most Recent Research Report [2023-2032] on the Enterprise File Synchronization and Sharing (EFSS) Market: Size, Emerging Trends, Market Share, Remarkable Growth, Segmentation, Comprehensive Analysis, and Forward-Looking Projections for 2032. This report presents an in-depth examination of the critical drivers propelling global market sales. Within its 120 pages, the report delivers a comprehensive evaluation of the industry's current status, encompassing aspects such as market size, market share, anticipated trends, growth rate, distribution channels, and more.

The global EFSS market is expected to expand at a CAGR of 21% during 2018-2023, leading to a global revenue of USD 10.35 Bn by 2023.

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Enterprise file synchronization and sharing (EFSS) include software services which enable organisations to synchronize and share files, documents, photos, videos and more, in a secure way, from multiple devices to multiple people (employees, external customers and partners).

Organizations often adopt such security technologies to prevent employees from using consumer-based file sharing apps to store, access and manage the corporate data that is beyond the IT department’s control and visibility. Enterprise file-sharing products include security capabilities like authentication, data encryption, containerization, and tracking features to protect enterprise data. EFSS allows files to be stored in an approved data repository which can be remotely accessed by employees from personal computers, tablets or smartphones which support the EFSS product.

The EFSS market is classified into four major segments by deployment, by component, by organisation size, and by end user industry verticals.

Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Based on deployment, the market is segmented into cloud, on-premises and hybrid.
Based on component, the sub-segments are integrated solutions, standalone solutions, and services.
Based on end user industry verticals, the market is segmented into software and technology, media, BFSI, healthcare, and others.

Key growth factors

IT can do away with worries regarding unauthorised company file sharing, with the adoption of enterprise file sync and share. Administrators can set security parameters and create user account permissions to limit accessibility to sensitive data. Content is also typically encrypted when shared and scanned using antivirus software to minimize the risks of data leaks. These advantages increase the adoption of EFSS solutions and services in organisations. The implementation of Bring-Your-Own-Device (BYOD) programs in organisations, increasing penetration of smartphones across businesses, rise in mobile workforce, increasing collaboration between employees and enterprises, and stringent government regulations for data security are some of the drivers of the EFSS market.

Threats and key players

Risk related to security and privacy of files and data, integration, control, compliance and regulatory issues are some of the reasons that may slow down the adoption of enterprise file sharing and synchronisation among various industry verticals and domains. According to Information Week, most organisations are unable to migrate all their files to Enterprise File Synchronization and Sharing, and NAS vendors have been slow to use the technology. These challenges often cause files to end up in multiple repositories.

Some of the major EFSS providers are Dropbox, Box, Citrix, Microsoft, etc.

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What's covered in the report?

1. Overview of the global EFSS market
2. Market drivers and challenges in the global EFSS market
3. Market trends in the global EFSS market
4. Historical, current and forecasted market size data for the global EFSS market
5. Historical, current and forecasted market size data for the deployment segment which includes cloud, on-premises and hybrid
6. Historical, current and forecasted market size data for the component segment which includes integrated solutions, standalone solutions and services
7. Historical, current and forecasted market size data for the end user industry verticals segment which includes software and technology, media, BFSI, healthcare, and others
8. Historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) market size data for EFSS market
9. Analysis of the global EFSS market by value chain
10. Analysis of the competitive landscape and profiles of major competitors operating in the market

Why buy?

1. Understand the demand for EFSS to determine the viability of the market
2. Determine the developed and emerging markets for EFSS
3. Identify the challenge areas and address them
4. Develop strategies based on the drivers, trends and highlights for each of the segments
5. Evaluate the value chain to determine the workflow
6. Recognize the key competitors of this market and respond accordingly
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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The following are significant aspects of the industry that may be relevant:

Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry's potential.

Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.

Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.

Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.

Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.

Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.

Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.

Reasons to Buy This Report

(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.

(B) The report offers comprehensive analysis of Enterprise File Synchronization and Sharing (EFSS) market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.

(C) The research includes segmentation of the Enterprise File Synchronization and Sharing (EFSS) market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.

(D) Analysis of the Enterprise File Synchronization and Sharing (EFSS) market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.

(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.

(F) The study helps evaluate Enterprise File Synchronization and Sharing (EFSS) business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.

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