Enterprise File Synchronization and Sharing (EFSS) Market

EFSS Booming: Remote Work Drives Secure File Sharing & Collaboration

The global EFSS market is expected to increase from USD 9.4 billion in 2023 to USD 35.5 billion by 2028, at a CAGR of 30.4% over the forecast period. The growing popularity of remote work and distributed teams has spurred demand for EFSS solutions that enable seamless file sharing and collaboration across borders and devices.

Several factors are driving the growth of the Enterprise File Synchronization and Sharing (EFSS) market:

  • Remote Work Trends
  • Mobility and BYOD Policies
  • Data Growth and Management Challenges
  • Security and Compliance Requirements
  • Collaboration and Productivity Needs
  • Hybrid and Multi-Cloud Strategies
  • Focus on User Experience
  • Regulatory Changes and Data Privacy Concerns

To know about the assumptions considered for the study download the pdf brochure

Remote Work Trends: The shift towards remote and hybrid work models, accelerated by the COVID-19 pandemic, has increased the demand for EFSS solutions. Organizations need secure and efficient ways for employees to access, share, and collaborate on files from anywhere, driving the adoption of EFSS platforms.

Mobility and BYOD Policies: The proliferation of mobile devices and Bring Your Own Device (BYOD) policies in workplaces is driving the need for EFSS solutions that enable seamless access to files from smartphones, tablets, and laptops. EFSS platforms support mobile productivity by providing users with on-the-go access to files while ensuring data security and compliance.

Data Growth and Management Challenges: The exponential growth of enterprise data, fueled by factors such as digital transformation, IoT, and multimedia content, is driving the need for efficient file management and sharing solutions. EFSS platforms help organizations manage and synchronize large volumes of data across distributed teams and locations, improving productivity and collaboration.

Security and Compliance Requirements: Data security concerns, including the risk of data breaches, leaks, and compliance violations, are driving organizations to adopt EFSS solutions with robust security features. EFSS platforms offer encryption, access controls, data loss prevention (DLP), and compliance capabilities to protect sensitive information and ensure regulatory compliance.

Collaboration and Productivity Needs: EFSS platforms enhance collaboration and productivity by enabling real-time file sharing, editing, and commenting among team members. Integration with collaboration tools such as email, messaging, and project management software further enhances teamwork and efficiency, driving the adoption of EFSS solutions.

Hybrid and Multi-Cloud Strategies: Organizations are adopting hybrid and multi-cloud strategies to leverage the scalability, flexibility, and cost-effectiveness of cloud storage while maintaining control over sensitive data. EFSS solutions support hybrid and multi-cloud deployments, allowing organizations to seamlessly synchronize files across on-premises and cloud environments.

Focus on User Experience: User experience is a key driver of EFSS adoption. Platforms that offer intuitive interfaces, seamless file synchronization across devices, and mobile-friendly features enhance user satisfaction and drive adoption within organizations.

Regulatory Changes and Data Privacy Concerns: Evolving data privacy regulations, such as GDPR, CCPA, and HIPAA, are driving organizations to implement EFSS solutions that ensure compliance with data protection requirements. EFSS platforms help organizations manage data privacy risks by providing encryption, audit trails, and granular access controls.

These growth drivers highlight the importance of EFSS solutions in addressing the evolving needs and challenges of modern enterprises, including remote work, data management, collaboration, security, and compliance.

Enterprise File Synchronization and Sharing (EFSS) Share - Global Industry Landscape

  • Thomson Reuters (Canada)
  • IBM (US)
  • BlackBerry (Canada)
  • OpenText (Canada)
  • VMware (US)
  • Acronis (Switzerland)

Here's a summary of the market share and key offerings for each of the companies:

Thomson Reuters (Canada):

Market Share: Thomson Reuters is a leading provider of information services and solutions for professionals in various industries, including finance, legal, tax, accounting, healthcare, and media. While specific market share data may vary by segment, Thomson Reuters holds a significant position in many of the markets it serves.
Key Offerings: Thomson Reuters offers a wide range of products and solutions, including financial market data and analysis, legal research tools, tax and accounting software, regulatory compliance solutions, healthcare information and analytics, and news services. Its offerings help professionals make informed decisions and manage complex information effectively.

IBM (US):

Market Share: IBM is a multinational technology and consulting company with a diverse portfolio of products and services. IBM holds significant market share in various segments, including cloud computing, artificial intelligence, data analytics, cybersecurity, and enterprise software.

Key Offerings: IBM offers a broad range of products and services, including hardware (such as servers and storage systems), software (including middleware, operating systems, and business applications), cloud computing services (through IBM Cloud), cognitive computing solutions (such as IBM Watson), and consulting services (including IT infrastructure, business transformation, and cybersecurity).

BlackBerry (Canada):

Market Share: BlackBerry Limited, formerly known for its smartphones, has transitioned into a software and cybersecurity company. Its market share in the software and security markets may vary by segment.

Key Offerings: BlackBerry offers a range of software and security solutions, including endpoint security, unified endpoint management (UEM), secure communication and collaboration tools (such as BlackBerry Spark), secure IoT (Internet of Things) solutions, and cybersecurity consulting services. BlackBerry's solutions focus on securing endpoints, protecting data, and enabling secure communication and collaboration for enterprises.

OpenText (Canada):

Market Share:

OpenText Corporation is a leading provider of Enterprise Information Management (EIM) solutions, including content management, business process management, customer experience management, and analytics. OpenText holds a significant market share in the EIM market globally.

Key Offerings: OpenText offers a comprehensive suite of software products and solutions designed to manage and leverage enterprise information effectively. Its offerings include Enterprise Content Management (ECM) solutions, Document Management, Records Management, Digital Asset Management, Business Process Automation, Customer Experience Management (CEM), Information Governance, and Analytics. OpenText's solutions cater to various industries and business functions, helping organizations manage their digital assets, streamline business processes, enhance customer experiences, and gain insights from their data.

VMware (US):

Market Share: VMware is a leading provider of virtualization and cloud computing software and services. It holds a significant market share in the virtualization, cloud infrastructure, and software-defined networking markets globally.

Key Offerings: VMware offers a wide range of products and solutions for virtualization, cloud management, networking, security, and digital workspace. Its flagship product is VMware vSphere, a virtualization platform for building and managing virtualized infrastructures. VMware also offers cloud services through VMware Cloud, solutions for hybrid and multi-cloud environments (such as VMware Cloud Foundation), software-defined networking solutions (such as VMware NSX), and digital workspace solutions (such as VMware Workspace ONE).

Acronis (Switzerland):

Market Share: Acronis International GmbH is a leading provider of cyber protection solutions, including backup, disaster recovery, security, and file synchronization and sharing. Acronis has gained significant market share in the data protection and cybersecurity markets globally.

Key Offerings: Acronis offers a range of products and services for data protection, including Acronis Cyber Protect (an integrated cyber protection platform), Acronis Cyber Backup (for data backup and recovery), Acronis Cyber Disaster Recovery (for disaster recovery and business continuity), Acronis Cyber Files Cloud (for secure file synchronization and sharing), and Acronis Cyber Security (for endpoint security and anti-malware protection). Acronis's solutions are designed to provide comprehensive cyber protection for businesses and organizations, combining backup, security, and data management capabilities in a single platform.

Related Reports:

Enterprise File Synchronization and Sharing (EFSS) Market by Offering (Solutions, Services), Application (File Storage & Backup, Content Management System, Document Collaboration), Business Function, Vertical and Region - Global Forecast to 2028

Enterprise File Synchronization and Sharing (EFSS) Market Size,  Share & Growth Report
Report Code
TC 4271
RI Published ON
4/8/2024
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status