Enterprise File Synchronization and Sharing (EFSS) Market Size Worth USD 84.19 Billion in 2032 | Emergen Research

Rising collaborations between enterprise and employees is a major factor driving Enterprise File Synchronization and Sharing (EFSS) market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, June 20, 2024 /EINPresswire.com/ -- 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.

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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.

Some major companies in the global market report include

Amazon Web Services, Inc., Rackspace Technology, Open Text, Google LLC, Microsoft, IBM, Lumingo, Oracle, Imperva., and Sophos Ltd.

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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

Deployment Type Outlook (Revenue, USD Billion; 2019-2032)

Cloud

Private

Public

Hybrid

On-premises

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

Key Features of the Enterprise File Synchronization and Sharing (EFSS) Market Report:

The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats

The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares

Evaluation of key current and emerging market trends and growth prospects

It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth

Brief overview of industry with regards to research and development, technological advancements, and product development

In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario

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