The Enterprise File Synchronization and Sharing (EFSS) Market size is projected to grow from USD 5.0 billion in 2020 to USD 15.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 26.0% during the forecast period. EFSS solutions include standalone EFSS solution and integrated EFSS solution (an integration of EFSS solutions with other third-party business tools so that these solutions can match up to the business needs of enterprises).
By component, the solutions segment to lead the market during the forecast period
EFSS solution providers offer two types of EFSS solutions, namely, standalone EFSS solution and integrated EFSS solution (an integration of EFSS solutions with other third-party business tools so that these solutions can match up to the business needs of enterprises). EFSS solutions help enterprises seamlessly access and share files of any size between employees, co-workers, partners, clients, and other business stakeholders. Business files contain sensitive information that must be routed through a secure channel to adhere to regulatory compliances and data privacy rules. Technically, during file sharing, there are three stages involved, namely, data transit, data in rest, and data in use.
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By solution, standalone EFSS solution segment to lead the market during the forecast period
Some of the use cases of the standalone EFSS solution include automation of file transfer, group collaboration, remote ECM repositories, access to file volumes within enterprises and outside organizations, file archiving and storage, and synchronization. Vendors also provide a high level of security and control for the enterprise data and help comply with stringent government regulations.
The key and emerging players include Box (US), Citrix Systems (US), Dropbox (US), IBM (US), 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). These players have adopted various strategies to grow in the global EFSS market.
Box is a cloud-based enterprise content management platform that provides solutions ranging from sharing and accessing of data and files on mobile devices to advanced enterprise practices, such as data governance and data retention. Its platform enables users to collaborate the data content internally within the same team, along with external parties and can automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features. Box offers its solutions to verticals such as construction, education, financial services, healthcare, government, life sciences, media and entertainment, professional services, retail, and non-profit organizations.
Citrix Systems is a leading provider of mobile workspaces, offering cloud virtualization, mobility management, networking, and cloud services to enable new ways to work better. The company provides its solutions to various industries, such as healthcare, education, finance, manufacturing, government, and the public sector.
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ShareFile is the company’s secure content collaboration EFSS solution that provides all document-centric responsibilities and workflow requirements for both SMEs and large enterprises. This enterprise-class cloud storage solution is well-known in the commercial software and service industry.
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