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Enterprise file synchronization and sharing market estimated to hit US$ 10.94 billion by 2023

IT Market Research

The global Enterprise File Synchronization and Sharing market size is expected to grow from USD 3.35 billion in 2018 to USD 10.94 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 26.7% during the forecast period.

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The increasing penetration of smart phones across businesses, arise in mobile workforce, the increasing collaboration between employees and enterprises, and stringent government regulations over data security are some of the factors expected to drive the EFSS market.

Key Target Audience

  • EFSS solution vendors
  • Enterprise Mobility Management (EMM) providers
  • EFSS service providers
  • System integrators
  • Third-party vendors
  • Cloud service providers
  • EFSS end-users
  • Government agencies and organizations
  • Regulatory and compliance agencies

The primary objectives of Enterprise File synchronization and sharing market report are to provide the detailed analysis of the major factors (drivers, restraints, opportunities, industry-specific challenges, and recent developments) influencing the market’s growth, analyze the market opportunities for stakeholders, and offer the details of the competitive landscape of the market leaders.

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The Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to hold the largest market share during the forecast period.

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The public cloud deployment type is expected to have the largest market share in the Enterprise File Synchronization and Sharing market during the forecast period. The public cloud deployment model offers various benefits to enterprises.

Some of these benefits include scalability, reliability, flexibility, and remote location access. The public cloud deployment type is preferred by the enterprises that have less regulatory hurdles, and are willing to outsource their storage facilities, either fully or partially.

The breakup of the profiles of the primary participants is given below:

  • By Company: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
  • By Designation: C-Level – 55%, Director Level – 40%, and Others – 5%
  • By Region: North America – 38%, Europe – 40%, APAC – 21%, and Rest of the World (RoW)–1%

The Enterprise File Synchronization and Sharing market players include Dropbox (US), Microsoft (US), Box (US), Citrix Systems (US), Syncplicity by Axway (US), Egnyte (US), BlackBerry (Canada), IBM Aspera (US), VMware (US), Google (US), Acronis International (Switzerland), OpenText (Canada), Thru. Inc. (US), Accellion (US), j2 Global (SugarSync) (US), SkySync (US), HighQ Solutions (UK), Nextcloud (Germany), ownCloud (Germany), CodeLathe (FileCloud) (US), Intralinks (US), Qnext Corp.

(FileFlex) (Canada), XMedius Solutions (Canada), Inspire-Tech (Singapore/US), Northbridge Secure Systems (Australia), MyWorkDrive by Wanpath LLC (US), and CTERA Networks (Israel/US).

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The objective of the report is to define, describe, and forecast the Enterprise File Synchronization and Sharing market size based on components (standalone EFSS solution, integrated EFSS solution, and services), deployment types, organization size, industry verticals, and regions. Among components, the services segment is expected to grow at the highest CAGR during the forecast period.

The demand for professional and managed services is higher across businesses, owing to the large adoption of standalone and integrated EFSS solutions among enterprises.

The report would help market leaders/new entrants in the following ways:

  • The report segments the EFSS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its sub segments across different regions.
  • The report would help stakeholders understand the pulse of the market, and provides information on the key market drivers, restraints, challenges, and opportunities.
  • The report would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystems, new service developments, partnerships, and acquisitions.

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