Global Enterprise File Synchronization & Sharing (EFSS) Market by Type (Standalone EFSS Solution, Integrated EFSS Solution), By Application (BFSI, Software and Technology, Government and Public Sector, Healthcare, Education) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global enterprise file synchronization and sharing (EFSS) market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in the EFSS market can be attributed to factors such as the increasing demand for cloud-based solutions, rising trend of Bring Your Own Device (BYOD), and growing need for data security and compliance. Based on type, the standalone EFSS solution segment is expected to hold a larger share of the global EFSS market during the forecast period. This can be attributed to its low cost and easy deployment compared with integrated EFSS solutions. However, integrated EFSS solutions are expected to witness higher growth rates during the forecast period due their ability to provide comprehensive file synchronization and sharing capabilities within a single platform. Based on application, BFSI is estimated to account for a major share of the global EFSS market in 2018 owing to increasing demand from financial institutions for secure file sharing among employees across different locations. The software & technology sector is also anticipated grow at a high rate duringthe forecast period due its growing adoption by small-and medium-sized businesses (SMBs).



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Product Definition:

Enterprise File Synchronization and Sharing (EFSS) is a category of software that provides file synchronization and sharing services to users within an organization. EFSS solutions allow employees to access, share, and collaborate on files from any device or location. EFSS is important for businesses because it enables employees to work together effectively by providing a secure way to share files.

Standalone EFSS Solution:

The global standalone EFSS solution market size was valued at USD 1.22 billion in 2015 and is expected to witness a significant growth owing to the increasing demand for cloud-based solutions among small & medium enterprises. The rising need for data security and privacy is anticipated to drive the industry growth over the forecast period.

Integrated EFSS Solution:

EFSS is a technology that allows multiple organizations to share files, using a common set of rules. The solution includes services and software that help in the management and control of digital assets across several organizations. It helps them achieve high levels of operational efficiency by enabling them to reduce costs related to storage infrastructure, backup solutions, data security & privacy protection as well as IT administration.

Application Insights:

The software and technology segment dominated the global enterprise file synchronization & sharing (EFSS) market in 2017. The growing demand for cloud-based applications, mobile solutions, and an increasing number of users are some of the major factors driving the growth of this segment. Furthermore, a rising number of cyberattacks is encouraging companies to adopt secure EFSS solutions so as to safeguard data across departments and organizations.

The banking, financial services & insurance (BFSI) sector is one that has been particularly impacted by recent cyberattacks such as WannaCry ransomware attack in May 2018 or Petya malware outbreak in June 2018. In order to prevent data loss and ensure data security during such attacks, many banks have started using integrated EFSS solutions from vendors like IBM Corporation or Microsoft Corporation among others.

Regional Analysis:

The North American region dominated the market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing adoption of cloud-based technologies, high awareness levels about cyber security, and rapid technological advancements. Moreover, presence of a large number of global players with their offices located in this region has played an important role in promoting EFSS solutions within the region.

Asia Pacific is anticipated to emerge as one of the fastest growing regions over the forecast period owing to increased government spending on infrastructure development along with rising demand for improved healthcare facilities & services among end users. In addition, rapidly expanding BFSI sector due to increasing penetration of e-commerce businesses coupled with rising disposable income will drive growth across this regional segment as well during the same period.

Growth Factors:

Increasing demand for BYOD and mobile workforce: The increasing demand for Bring Your Own Device (BYOD) and mobile workforce is one of the major growth drivers for the EFSS market. With the growing trend of BYOD, employees are demanding to access their corporate data from their personal devices. This is resulting in the increased adoption of EFSS solutions by organizations to provide secure access to corporate data from any device or location.
Proliferation of cloud-based services: The proliferation of cloud-based services is another major growth driver for the EFSS market. Cloud-based services offer several benefits such as scalability, flexibility, and cost-effectiveness which are fueling their adoption among organizations worldwide. This is resulting in an increase in the demand for EFSS solutions that can securely store and share data across multiple clouds platforms.
Emergence of big data & analytics: The emergence of big data & analytics is another key factor driving the growth of EFSS market worldwide. Big data refers to a large volume unstructured digital information that requires special tools and techniques to analyze it effectively For example, social media posts, videos, pictures, etc.). Organizations are increasingly adopting EFSS solutions to manage this big data more efficiently and effectively with less complexity And time wastage .This is helping them gain a competitive edge over their rivals .


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Scope Of The Report
Report Attributes
Report Details
Report Title
Enterprise File Synchronization & Sharing (EFSS) Market Research Report
By Type
Standalone EFSS Solution, Integrated EFSS Solution
By Application
BFSI, Software and Technology, Government and Public Sector, Healthcare, Education
By Companies
Box, Citrix Systems, Dropbox, Microsoft, Syncplicity By Axway, Google, IBM, EMC, Egnyte, VMware, Acronis, OpenText, BlackBerry, SkySync
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
138
Number of Tables & Figures
97
Customization Available
Yes, the report can be customized as per your need.

Global Enterprise File Synchronization & Sharing (EFSS) Market Report Segments:
The global Enterprise File Synchronization & Sharing (EFSS) market is segmented on the basis of:
Types
Standalone EFSS Solution, Integrated EFSS Solution
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Software and Technology, Government and Public Sector, Healthcare, Education
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Box
Citrix Systems
Dropbox
Microsoft
Syncplicity By Axway
Google
IBM
EMC
Egnyte
VMware
Acronis
OpenText
BlackBerry
SkySync



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Highlights of The Enterprise File Synchronization & Sharing (EFSS) Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Standalone EFSS Solution
Integrated EFSS Solution
By Application:
BFSI
Software and Technology
Government and Public Sector
Healthcare
Education
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Enterprise File Synchronization & Sharing (EFSS) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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