Enterprise File Synchronization and Sharing (EFSS) Market Surveying Report, Drivers, Scope and Regional Analysis by 2023-2032 | Emergen Research

The Global Enterprise File Synchronization and Sharing (EFSS) market size was USD 8.00 Billion in 2022 and is expected to register a revenue CAGR of 26.5% during the forecast period. Rising collaborations between enterprises and employees, increasing number of mobile workforces and digital workplaces, and rising adoption of cloud-based technology are some of the major factors driving the market revenue growth. In addition, growing stringent government regulations is another factor contributing significantly to the market revenue growth.

Rising collaborations between enterprise and employees is a major factor contributing to revenue growth of the market. Cloud collaboration offers numerous benefits, which are creating a high demand for these solutions. Using a file-sharing cloud for commercial workloads has transformative possibilities for collaboration. Remote teams can communicate synchronously or asynchronously while instantaneously sharing information or file updates from any location because of file sharing via the cloud. Keeping data on the cloud brings team members together and reduces communication barriers. Cloud-based file sharing also standardizes file organization, making it easier for the team to have access to the resources needed to innovate.

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The SWOT analysis and Porter's Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global Enterprise File Synchronization and Sharing (EFSS) market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Aside from revenue growth drivers & restraints, production & consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.

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Some major companies in the global market report include Amazon Web Services, Inc., Rackspace Technology, Open Text, Google LLC, Microsoft, IBM, Lumingo, Oracle, Imperva., and Sophos Ltd.

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Some Key Highlights From the Report

• The cloud segment accounted for largest revenue share in 2022. Since data is transmitted immediately over the Internet, business owners are not obliged to invest in costly equipment and apparatus required to transfer information. Files can be read and shared without the usage of a Virtual Private Network (VPN) by utilizing the cloud. This improves security by eliminating the need for VPN access to internal network resources, hence decreasing potential security vulnerabilities. Downloading files can be disallowed while allowing access to prevent data breaches when combined with browser access to files.

• The on-premises is expected to register a significantly fast revenue growth rate during the forecast period. One of the major advantages of on-premises storage is that individuals do not require an online connection to access data. Though many businesses rely on Internet connections to conduct business, there is always the danger that a connection failure would impair efficiency and make access to essential data impossible. Users will have access to a private network that is always available, independent of Internet connectivity. Individuals outside the network cannot access on-premises servers since they do not keep data online.

• The Enterprise File Synchronization and Sharing (EFSS) market in North America accounted for largest revenue share in 2022 owing to the presence of cloud computing and IT companies in this region and their product development on cloud service and data management. For instance, on 23 February 2021, IBM announced the launch of Red Hat software on IBM Power Systems, as well as new IBM Power Systems hardware. These initiatives strengthen IBM Systems' commitment to assisting clients in modernizing by providing them with the latest Red Hat technologies for developing cloud-native apps and deploying them in hybrid cloud environments.

• On 10 May 2023, Boston Consulting Group (BCG) and Intel announced a strategic partnership that will enable Generative Artificial Intelligence (GenAI) to employ end-to-end Intel AI software and hardware, introducing fully custom and exclusive solutions to enterprise clients while maintaining private data isolated in their trusted environments.

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Segmentation Insights for Enterprise File Synchronization and Sharing (EFSS) Market Report:

Component Outlook (Revenue, USD Billion; 2019-2032)
o Solutions
1. Integrated EFSS solution
2. Standalone EFSS solution
o Services
o Professional services
1. Training and support
2. Consulting
3. Integration and deployment
o Managed services

Deployment Type Outlook (Revenue, USD Billion; 2019-2032)
o Cloud
1. Private
2. Public
3. Hybrid
o On-premises

Organization Size Outlook (Revenue, USD Billion; 2019-2032)
o SMEs
o Large enterprise

Industry Vertical Outlook (Revenue, USD Billion; 2019-2032)
o IT & Telecommunication
o BFSI
o Government and public sector
o Healthcare
o Manufacturing
o Retail
o Media and entertainment
o Others

Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Benelux
5. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. Rest of MEA

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