According to the latest report by IMARC Group, titled “Enterprise File Synchronization and Sharing (EFSS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global enterprise file synchronization and sharing (EFSS) market share . The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global enterprise file synchronization and sharing (EFSS] market size reached US$ 8.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 31.0 Billion by 2028, exhibiting a growth rate (CAGR) of 22.72% during 2023-2028.
Enterprise file synchronization and sharing (EFSS) represents a service that enables users to share and sync files, such as documents, photos, and videos, in cloud storage or on-premises and access them on other computing devices. These software aid in securely synchronizing and sharing the data among external clients, employees, and partners across various instruments.
EFSS services assist users in reviewing, editing, storing, and sharing documents using advanced features, including commenting, live version tracking, and workflow process management.In addition, communication, collaboration, and content management tasks can be controlled seamlessly via enterprise file-sharing tools. As a result, small and medium enterprises are extensively utilizing EFSS services to facilitate smart technology, digitization, and automation.
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Market Trends
The escalating concerns toward the security and privacy of enterprise data, owing to the paradigm shift in information-sharing techniques of organizations from traditional to digital processes, are among the primary factors propelling the enterprise file synchronization and sharing (EFSS) market. Besides this, the elevating requirement for cloud computing solutions to minimize operational costs, on account of the increasingly competitive environment, is further augmenting the market growth.
Moreover, the continual reduction of manual functional work profiles and the rising number of EFSS software-based work are also catalyzing the global market. Apart from this, the increasing mobile workforces, digital workplaces, and the growing number of remote workers are acting as significant growth-inducing factors. Additionally, the launch of several policies by the government bodies that emphasize the security aspects of corporate data is also stimulating the market growth. Furthermore, the emerging trend of urbanization and industrialization, high penetration of high-speed internet, the expanding 5G network, the inflating disposable income levels, and the extensive research and development (R&D) activities are expected to bolster the enterprise file synchronization and sharing (EFSS) market in the coming years.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Accellion Inc., Acronis International GmbH, Blackberry Limited, Citrix Systems Inc., CTERA Networks, Dropbox Inc., Egnyte Inc., Google LLC (Alphabet Inc.), Microsoft Corporation, Open Text Corporation, SS&C Intralinks, Sugarsync Inc. and Thomson Reuters Corporation.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
- Solutions
- Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprise
Breakup by Application:
- Cloud Virtualization
- Enterprise Content Management System
- Enterprise Mobility
- Enterprise Storage and Backup
- Enterprise Document Management
- Others
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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