Global E-Prescribing Market Analysis and Forecast Report 2030
Enterprise File Synchronization and Sharing (EFSS) Market Product Overview
Synchronization and sharing of enterprise data (EFSS) are a software service that allows companies to securely synchronize and exchange documents, images, videos, and files. To help workers from using consumer-based file sharing applications and software to store, access, and maintain data security, companies implement these technologies. For example, Windows, Mac OS, Linux OS are the key users of an enterprise workstation. Mobile devices, such as tablets and smartphones, used by their staff, use Android and iOS as the dominant operating systems, on the other hand. Synchronization and sharing of enterprise data are a feature that allows users to store files such as documents, images, and videos in the cloud or on-site storage and then access them with multiple people on other computing devices.
Enterprise File Synchronization and Sharing (EFSS) Market is expected to project a notable CAGR of 25.5% in 2030.
Enterprise File Synchronization and Sharing (EFSS) Market to surpass USD 18.21 billion by 2030 from USD 4.13 billion in 2018 at a CAGR of 25.5% throughout the forecast period, i.e., 2019-30. The key factors that have a positive effect on the growth of the global market for enterprise file synchronization and sharing (EFSS)s are segment-targeted pricing and creative marketing strategies, the rapid popularity of triple-play networks in developed countries, and an increase in mobile device penetration and low-cost mobile service demand. Over the forecast period, the rising use of data and value-added services such as live streaming and M-commerce-based services are expected to drive the Enterprise File Synchronization and Sharing (EFSS) market. It is projected that the growing proliferation of smartphones around the world and the resulting increase in the mobile user base will significantly contribute to the growth of the market in near future.
Enterprise File Synchronization and Sharing (EFSS) Market: Segments
Cellular M2M category Segment to grow with the highest CAGR of 15.2% during 2019-30
Enterprise File Synchronization and Sharing (EFSS) Market is segmented by deployment model as Cloud and On-premises. The cloud segment dominated the market with a revenue share of 61.2% in 2018 almost 61% of the EFSS deployments are on a cloud. Smaller and large companies prefer cloud models to store, maintain and exchange critical and sensitive files efficiently. For their mission-critical data, larger organizations often prefer cloud deployment models. The implementation of the cloud deployment model among organizations has been made more attractive by smaller investments and easy integration with the systems. In the forecast period, the cloud deployment model is therefore expected to drive the growth of the business file sharing and synchronization market.
Healthcare vertical Segment to grow with the highest CAGR of XX.X% during 2019-30
Enterprise File Synchronization and Sharing (EFSS) Market is segmented by End-User Vertical into IT & Telecom, Banking, Financial Services, and Insurance, Retail, Manufacturing, Education, and Government. The greater market share of XX% was accounted for by BFSI in 2018 as most of the BFSI players are investing in the EFSS in order to build mission-critical banking solutions for risk assessment and business prospect mitigation that avoid the least data breaches. Growth in the EFSS sector, especially in the vertical BFSI industry, can be attributed to rising financial services, IT automation, and reforms in the world’s economies and banking services. EFSS solutions allow BFSI organizations to increase the efficiency of their staff, streamline business activities, improve customer service, and ensure enforcement and regulatory policies. The growing world population, changes in lifestyles, and awareness of health-related problems have collectively led to the healthcare industry’s massive growth. Healthcare providers must interact efficiently with patients through personal and efficient communication tools in order to provide superior services. The use of mobile devices has increased globally among patients, physicians, nurses, and other support personnel.
Enterprise File Synchronization and Sharing (EFSS) Market: Market Dynamics
Increasing Adoption of BYOD across Various Industries
Enterprise File Sharing and Synchronization (EFSS) fulfills this need with the increased demand for cloud-based integration, as well as offers a composite file sharing and synchronization enterprise and includes the growth of BYOD adoption. Such variables boost the overall market growth of enterprise file sharing and synchronization (EFSS). In addition to these growth factors, data protection issues are an element that limits the overall growth of the sector. Integration of data loss prevention, corporate content aggregation, and built-in editing applications are only a few new market trends. The communication and connection of individuals with their business environment and their enterprise file sync and sharing solution are becoming easier with the development of consumer technology.
In addition to offering benefits to staff, partners, and consumers in many ways, the EFSS solution lets organizations access and exchange business information through multiple devices. Most EFSS solutions, however, do not meet the requirements of highly controlled enterprises for enforcement and protection. The lack of security features could result in sensitive business information being leaked. Cyber-attacks can directly or indirectly (through third-party vendors) result in threats such as viruses, worms, malware, and other malicious software programs exploiting any security vulnerabilities in products, services, and networks. To gain unauthorized access to files and applications, attackers use new and different methods and these attacks are difficult to detect using easy and conventional EFSS solutions. It has therefore become difficult for corporations to adequately identify and deter such attacks, leading to tremendous business losses.
Enterprise File Synchronization and Sharing (EFSS) Market: Key Players
Key Product Offerings
Key Performance Indicators
Citrix Systems, Inc.
Google, Inc. (Alphabet Inc.)
Watchdox Inc. (BlackBerry Limited)
VMware Inc. (Dell Technologies)
CTERA Networks Inc
Enterprise File Synchronization and Sharing (EFSS) Market: Regions
Enterprise File Synchronization and Sharing (EFSS) Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Enterprise File Synchronization and Sharing (EFSS) Market in North America held the largest market share of XX% in the year 2018 and is projected to remain the dominant segment over the forecast period. Due to the involvement of countries such as the United States and Canada, the region is home to major markets for managed services, skilled services, cloud, IT and telecommunications, and retail. This area has been extremely sensitive to the adoption within businesses of the latest technological developments, including mobile devices, cloud computing, and IoT. The mobile-first strategy to reshape the journey of its workers has been embraced by organizations in this area. Advanced network technology, mobile workforce expansion, advanced mobile platforms, and SaaS versatility, used by various companies, are the key growth drivers for this area. Another driving force for EFSS is the region’s demand for managed services, as more and more businesses prefer to outsource non-core features.
The Enterprise File Synchronization and Sharing (EFSS) market, which is highly competitive, consists of several major players such as Box (US), Citrix Systems (US), Dropbox (US), IBM (US), hold a substantial market share in the Enterprise File Synchronization and Sharing (EFSS) market. Other players analyzed in this report are Blackberry (Canada), Microsoft (US), Syncplicity by Axway (US), Egnyte (US), VMware (US), Google (US), Acronis (Switzerland), OpenText (Canada), Thru (US), Accellion (US), SugarSync (US), Nextcloud (Germany), Northbridge Secure Systems (Australia), ownCloud (Germany), Intralinks (US), Qnext Corporation (US), CTERA Networks (Israel), SkySync (US), HighQ (UK), Inspire-Tech (Singapore), MyWorkDrive (US) among others.
Key players are adopting inorganic growth strategies such as product launches in the global nutritional supplement market. For instance, In October 2016, Egnyte Inc., signed a strategic alliance with Microsoft Corporation, to use Microsoft’s Azure cloud computing platform for its business customer. This alliance would aid the company to offer end-to-end integration services to the customers.
Enterprise File Synchronization and Sharing (EFSS) Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Enterprise File Synchronization and Sharing (EFSS) Market report also contain analysis on:
Enterprise File Synchronization and Sharing (EFSS) Market Segments:
By Deployment Mode:
By End User:
IT & Telecom
Banking, Financial Services, and Insurance
Enterprise File Synchronization and Sharing (EFSS) Market Dynamics
Enterprise File Synchronization and Sharing (EFSS) Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints