Global Enterprise File Synchronization and Sharing [EFSS] Market Size, Trends & Analysis with COVID-19 Impact - Forecasts to 2026 By Component (Solutions, Services), By Solutions (Standalone, Integrated), By Services (Professional Services, Managed Services), By Deployment Mode (On-premises, Cloud), By End User (Large Enterprises, Small and Medium Enterprises), By Vertical (Healthcare, Legal, BFSI, Education, Media & Entertainment, Government and Public Sector, Software and Technology, Other Verticals), By Region (North America, Asia-Pacific, Middle East & Africa, CSA, Europe), End-User Landscape and Company Market Share Analysis & Competitor Analysis
Enterprise File Synchronization and Sharing Market Insights
The EFSS market is estimated to trend upwards during the forecast period. The use of enterprise file synchronization and sharing software service enables the end-user to share the documents, videos, and photos with customers or partners across various platforms and devices. This software service prevents the use of the company’s data in an external framework. For businesses, it helps to enhance their content creation, and also create maximum files security among the employees. For end-users such as healthcare, the HIPPA act ensures the safety of the electronic health records. The potential for the market will see high-end use from healthcare, legal, and education about changing market space and growing inclination towards the storage of records electronically. With the growing need for maximum security of data and to ensure cybersecurity, the market for file sync and sharing would see high demand during the forecast period.
Enterprise File Synchronization and Sharing Market: By Component
Based on the component, the market takes solutions and services into being. The solutions segment will grow upwards during the forecast period. The penetration of startups in the EFSS market and heavy investment in software tools and their provision by prominent players indicates extra demand pressure on the market during the forecast period. Software tools such as Wetransfer allows the user to share files up to 20 GB.
Enterprise File Synchronization and Sharing Market: By Solutions
Based on the solutions, the market considers standalone and integrated into being. The standalone solutions would have a high deployment rate during the forecast period. The standalone solutions reduce the failures, enhances energy saving, and minimize the need for investments. The effective implementation of standalone solutions reduces manual error work, leading to high market demand for the segment during the forecast period.
Enterprise File Synchronization and Sharing Market: By Deployment mode
Based on the deployment mode, the market considers cloud and on-premises into being. The cloud segment is estimated to grow upwards during the forecast period. The new rollout of the cloud-based file-sharing platforms in the market improves the market visibility for the future period. Microsoft One Drive, Egnyte, and DropBox are some of the best cloud storage providers for 2020. Their presence in the market makes the segment more competitive and grows upward in the given period.
Enterprise File Synchronization and Sharing Market: By Services
Based on the services, the market considers professional and managed services. The professional services demand will be high during the forecast period due to their best business strategies, value-based implementation practices, and identification of opportunities for new products. The software companies employ professional services because of such reasons and to enhance their market value.
Enterprise File Synchronization and Sharing Market: By End-use
Based on the end-use, the market considers large and small & medium enterprises into being. The large enterprise segment would be growing the fastest in this market. The high affordability of large organizations to deploy software and professional services leads to their large market penetration during the forecast period which promotes high demand for the EFSS market.
Enterprise File Synchronization and Sharing Market: By Verticals
Based on the verticals, the market considers education, healthcare, legal, media, and entertainment into being. The healthcare segment would see high demand in this market owing to special acts regarding the enterprise file sharing systems and also growing informatics market in the healthcare sector.
Enterprise File Synchronization and Sharing Market: By Region
Based on the region, the market considers North America to be the leading region in the market. The region has a fast adoption rate of advanced technologies and software services. The presence of startups and new software launch in the region will also lead to high market demand during the forecast period.
Market Sare and Competitive Analysis
Key players operating in the market include Dropbox, Box, Blackberry, Citrix Systems,pCloud, Egnyte, CTERA, Gospel Technology, Hightail, Duality Technologies,ownCLoud, Abstract, MyWorkDrive, Qnext Corporation, Microsoft, Google, Thru, Accellion, SugarSync, and Intralinks among others
Please note: This is not an exhaustive list of companies profiled in the report.
In 2020, Google Cloud announced the introduction of BigQuery Omni which is driven by the Anthos Platform.
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The Global Enterprise File Synchronization and Sharing [EFSS] Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Enterprise File Synchronization and Sharing [EFSS] Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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