Vancouver, Oct. 10, 2023 (GLOBE NEWSWIRE) -- 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.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2348
Moreover, growing stringent government regulations are also driving revenue growth of the market. For instance, on 22 August 2023, The Indian Parliament approved the Digital Personal Data Protection Act (the ‘Act’), completing a 5-year process to adopt an omnibus data privacy law in India. The President of India ratified the Act, which would go into effect once the Government notified it. The Act changes a prior draught significantly and departs greatly from the General Data Protection Regulation (GDPR) paradigm of privacy laws. These rising federal government regulations are driving revenue growth of the market.
However, high cost of EPSS and requirement for heavy instruments in EPSS are restraining the market revenue growth. In addition, data security and a lack of services could also restrain the market revenue growth. File sharing demands appropriate bandwidth for data to be accessed quickly and conveniently. If somebody lacks the necessary speed, accessing files can be time-consuming. When records are shared, there is a greater likelihood that an employee or an external hacker will attempt to share company data on the Internet in a public forum.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2348
Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 8.00 Billion |
| CAGR (2023–2032) | 26.5% |
| Revenue forecast to 2032 | USD 84.19 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, deployment type, organization size, industry vertical, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Amazon Web Services, Inc., Google, IBM, OpenText, Box, Cloud Software Group, Inc., VMware, Inc., Egnyte, Inc., Acronis International GmbH., DryvIQ, Thomson Reuters |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global Enterprise File Synchronization and Sharing (EFSS) market is fairly fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more enterprise file synchronization and sharing solutions. Some major players included in the global Enterprise File Synchronization and Sharing (EFSS) market report are:
-
- Amazon Web Services, Inc.
- IBM
- OpenText
- Box
- Cloud Software Group, Inc.
- VMware, Inc.
- Egnyte, Inc.
- Acronis International GmbH.
- DryvIQ
- Thomson Reuters
Strategic Development
- On 12 January 2021, Microsoft revealed that users will be able to exchange huge files of up to 250 GB using SharePoint, Teams, and OneDrive. The company has also introduced a differential sync function, which syncs the changes made in the file by the user or their workmate, so the user doesn't have to waste time waiting for enormous files to sync just to re-upload once a minor modification is made.
- In 2021, IBM Security MaaS360 with Watson is a new EFSS solution from IBM Corporation. This solution is intended to give secure access to company data and tools for collaboration on any device while preserving data security and compliance.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2348
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.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/enterprise-file-synchronization-and-sharing-market
Emergen Research has segmented the global Enterprise File Synchronization and Sharing (EFSS) market on the basis of component, deployment type, organization size, industry vertical, and region:
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Solutions
- Integrated EFSS solution
- Standalone EFSS solution
- Services
- Professional services
- Training and support
- Consulting
- Integration and deployment
- Managed services
- Professional services
- Solutions
- Deployment Type Outlook (Revenue, USD Billion; 2019-2032)
- Cloud
- Private
- Public
- Hybrid
- On-premises
- Cloud
- Organization Size Outlook (Revenue, USD Billion; 2019-2032)
- SMEs
- Large enterprise
- Industry Vertical Outlook (Revenue, USD Billion; 2019-2032)
- IT & Telecommunication
- BFSI
- Government and public sector
- Healthcare
- Manufacturing
- Retail
- Media and entertainment
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
Curated Reports You Shouldn't Miss: Dive In Now!
Blockchain Technology in BFSI Market By Type, By Component, By Application (Record Keeping, Compliance Management, Smart Contract, Digital Currency, Payment, and Others), By End-use (Insurance, Banking, Non-Banking Financial Company), and By Region, Forecast to 2028
IoT Chip Market, By Product (Logic Device, Memory Device, Sensor, Processor, Connectivity IC), By End-use (Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, BFSI, Building Automation), and By Region Forecast to 2030
Predictive and Prescriptive Analytics Market By Type (Services, Solutions), By Deployment (On-premises, Cloud), By Application (Human Resource, Sales & Marketing, Finance, Operations, and Others), By End-use, and By Region, Forecast to 2028
Virtual Power Plant Market By End-use (Residential, Industrial and Commercial), By Technology (Distributed Generation, Demand Response, Mixed Asset), and By Region, Forecast to 2028
5G Infrastructure Market By Component (Services, Hardware), By Spectrum (mm Wave, Sub-6 GHz), By Architecture (Standalone, Non-standalone), By End-Use (Industrial, Retail, Healthcare, Logistics, Enterprise, Defense, and Others), and By Region, Forecast to 2028
Big Data Analytics in Manufacturing Market By Component (Solution, Service), By Deployment (On-Premises, Cloud-Based), By Application (Predictive Quality, Predictive Maintenance, Anomaly Detection, Tool Life-cycle Optimization, Computer Vision, and Others), and By Region, Forecast to 2028
Computer Aided Diagnostics (CAD) Market By Application (Breast Cancer, Lung Cancer, Liver Cancer, Oncology, Others), By Imaging Modalities (Mammography, X-Ray, Ultrasound, MRI, CT Scan, Others), By End-use (Hospitals, Clinics, Diagnostic Centers, Others), and By Region, Forecast to 2028
Cloud Backup & Recovery Market By Type (Hybrid, Public, Private), By User Type (SMEs, Large Enterprise), By End-Use (BFSI, Healthcare, Manufacturing, Education, Government, Retail, Telecommunication and IT, Others), and By Region, Forecast to 2028
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-enterprise-file-synchronization-and-sharing-market
