According to the new research report published by The Insight Partners, titled “Enterprise File Sharing and Synchronization Market–Global Analysis and Forecast to 2025”, the global enterprise file sharing and synchronization market is expected to reach US$ 10,586.5 Mn in 2025, registering a CAGR of 23.2% during the forecast period 2016-2025.
Market Size Value in – US$ 1,622.2 Million in 2016
Market Size Value by – US$ 10,586.5 Million by 2025
Growth rate – CAGR of 23.2% from 2017-2025
Forecast Period – 2017-2025
Base Year – 2017
No. of Pages – 164
No. Tables – 3
No. of Charts & Figures – 57
Historical data available – Yes
Segments covered – Solution, Services , Deployment Model , End-Users and Industry Vertical
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Cloud deployment model expected to continue its dominance in the enterprise file sharing and synchronization market
Currently, almost 61% of the EFSS deployments are on cloud. Cloud models are most preferred by smaller and large organizations to store, manage and share efficiently the critical and sensitive files. Larger organizations also prefer cloud deployment models for their mission critical data. Lesser investments and easy integration with the systems have made the adoption of cloud deployment model more attractive among the organizations. Hence, cloud deployment model is expected to drive the growth of enterprise file sharing and synchronization market in the forecast period.
Need to improve mobility and secured mobile service to access data would serve as an opportunity for various industries to adopt EFSS solutions
Concerns regarding the privacy and security of data have been the biggest challenging factor for the growth of enterprise file sharing and synchronization market globally. Companies with mission critical data have preferred the traditional on-premise file sharing systems to manage their data. Enhanced data protection for such mission critical and sensitive data would be a differentiating factor for EFSS vendors. The hybrid and private cloud deployment models have emerged to fulfill such needs of organizations. This differentiation would serve as a huge opportunity for large organizations to adopt EFSS solutions and further strengthen the enterprise file sharing and synchronization market.
Impact of COVID-19 on Enterprise File Sharing and Synchronization (EFSS) Market
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
Enterprise File Sharing and Synchronization (EFSS) solution allows individuals and organizations to share and synchronize various kinds of files across and out of the organization and allowing access to individuals, organizations and customers. North America, being a technologically advanced region along with high number of small and large enterprises is driving the enterprise file sharing and synchronization market. Europe is the second largest adopter of EFSS solutions, while APAC region with growing numbers of various organizations and increasing technological trends lags behind the above two regions. Dropbox, Microsoft, Google and Box and Citrix are among the major players operating in enterprise file sharing and synchronization market.
2016: Accellion, Inc. introduced certified solutions for the Microsoft Azure marketplace in its EFSS product, kiteworks. This will add features such as high security and availability of Azure, scalability and enhanced deployment and management.
2016: Accellion, Inc. announced that it has joined Microsoft’s CSPP. The alliance will enable the company to provide productivity features in kiteworks.
2016: Box, Inc. and Google, Inc. to collaborate on various initiatives to transform work in the cloud. This includes new integrations between Box, Google Springboard and Google Docs for delivering enhanced experience for collaborating and working on content in the cloud.
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Company Name: The Insight Partners
Contact Person: Sameer Joshi
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