Enterprise File Synchronization and Sharing (EFSS) Market

Market Overview:

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 US$ 31.0 Billion by 2028, exhibiting a growth rate (CAGR) of 22.72% during 2023-2028.

Enterprise file synchronization and sharing (EFSS) is a software service that enables users to sync and share files like photos, documents, and videos in cloud storage or on-premises storage, and access them on other computing devices. With these software services, data can be securely synchronized and shared between employees, external clients, and partners across multiple devices. As part of EFSS services, users are able to store, review, edit, and share documents using advanced features, such as live version tracking, commenting, and workflow process management. Collaboration, communication, and content management tasks can be managed seamlessly through enterprise file-sharing tools. Consequently, small and medium enterprises are extensively adopting EFSS services to facilitate digitization, smart technology, and automation.

Enterprise File Synchronization and Sharing (EFSS) Market Trends:

The market is majorly driven by the rising concerns regarding the security and privacy of enterprise data. This can be attributed to the paradigm shift in data sharing techniques of organizations from traditional to digital processes. In addition to this, the widespread adoption of cloud computing solutions to minimize operational costs due to the increasingly competitive environment is propelling the market. The continual reduction of manual operational work profiles and the escalating number of software-based work is also leading to a higher product uptake on the global level. Moreover, a considerable rise in the number of mobile workforces and digital workplaces, along with the growing number of remote workers, are providing an impetus to the market. Furthermore, the increasing stringency of government regulations emphasizing the security aspects of corporate data is creating a positive market outlook. Some of the other factors contributing to the market include rapid urbanization and industrialization, penetration of high-speed internet, the emergence of 5G network, inflating disposable income levels and extensive research and development (R&D) activities.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global enterprise file synchronization and sharing (EFSS) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment type, organization size, application and industry vertical.

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
   

Breakup by Industry Vertical:

• Telecom and IT
• BFSI
• Retail
• Manufacturing
• Education
• Government
• Other
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 Coverage: