The global enterprise file synchronization and sharing (EFSS) market size reached US$ 6.18 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 25.59 Billion by 2027 exhibiting a CAGR of 25.50% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
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.
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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.
Enterprise File Synchronization and Sharing (EFSS) Market Trends and Drivers:
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.
|Enterprise File Synchronization and Sharing (EFSS) Market Report Scope|
|Market size value in 2021||US$ 6.18 Billion|
|Market forecast in 2027||US$ 25.59 Billion|
|Growth Rate||CAGR of 25.50% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends|
|Segments covered||Component, Deployment Type, Organization Size, Application And Industry Vertical|
|Regional scope||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Key companies profiled||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.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
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The report has been segmented the market into following categories:
Breakup by Component:
Breakup by Deployment Type:
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
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Allegheny Technologies Incorporated, ArcelorMittal S.A., JSW Steel Ltd, Nippon Steel Corporation, Novelis Inc. (Hindalco Industries Limited), Nucor Corporation, POSCO, Tata Steel Ltd, Thyssenkrupp AG, United States Steel Corporation and Voestalpine AG.
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