As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the Enterprise File Synchronization and Sharing (EFSS) industry.
New Industry Report on Global Enterprise File Synchronization and Sharing (EFSS) Market Status and Prospects [2023-2032] has been released. The report is 120 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request a Free Sample Copy
The global EFSS market is expected to expand at a CAGR of 21% during 2018-2023, leading to a global revenue of USD 10.35 Bn by 2023.
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Enterprise file synchronization and sharing (EFSS) include software services which enable organisations to synchronize and share files, documents, photos, videos and more, in a secure way, from multiple devices to multiple people (employees, external customers and partners).
Organizations often adopt such security technologies to prevent employees from using consumer-based file sharing apps to store, access and manage the corporate data that is beyond the IT departments control and visibility. Enterprise file-sharing products include security capabilities like authentication, data encryption, containerization, and tracking features to protect enterprise data. EFSS allows files to be stored in an approved data repository which can be remotely accessed by employees from personal computers, tablets or smartphones which support the EFSS product.
The EFSS market is classified into four major segments by deployment, by component, by organisation size, and by end user industry verticals.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Based on deployment, the market is segmented into cloud, on-premises and hybrid.
Based on component, the sub-segments are integrated solutions, standalone solutions, and services.
Based on end user industry verticals, the market is segmented into software and technology, media, BFSI, healthcare, and others.
Key growth factors
IT can do away with worries regarding unauthorised company file sharing, with the adoption of enterprise file sync and share. Administrators can set security parameters and create user account permissions to limit accessibility to sensitive data. Content is also typically encrypted when shared and scanned using antivirus software to minimize the risks of data leaks. These advantages increase the adoption of EFSS solutions and services in organisations. The implementation of Bring-Your-Own-Device (BYOD) programs in organisations, increasing penetration of smartphones across businesses, rise in mobile workforce, increasing collaboration between employees and enterprises, and stringent government regulations for data security are some of the drivers of the EFSS market.
Threats and key players
Risk related to security and privacy of files and data, integration, control, compliance and regulatory issues are some of the reasons that may slow down the adoption of enterprise file sharing and synchronisation among various industry verticals and domains. According to Information Week, most organisations are unable to migrate all their files to Enterprise File Synchronization and Sharing, and NAS vendors have been slow to use the technology. These challenges often cause files to end up in multiple repositories.
Some of the major EFSS providers are Dropbox, Box, Citrix, Microsoft, etc.
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What’s covered in the report?
1. Overview of the global EFSS market
2. Market drivers and challenges in the global EFSS market
3. Market trends in the global EFSS market
4. Historical, current and forecasted market size data for the global EFSS market
5. Historical, current and forecasted market size data for the deployment segment which includes cloud, on-premises and hybrid
6. Historical, current and forecasted market size data for the component segment which includes integrated solutions, standalone solutions and services
7. Historical, current and forecasted market size data for the end user industry verticals segment which includes software and technology, media, BFSI, healthcare, and others
8. Historical, current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) market size data for EFSS market
9. Analysis of the global EFSS market by value chain
10. Analysis of the competitive landscape and profiles of major competitors operating in the market
1. Understand the demand for EFSS to determine the viability of the market
2. Determine the developed and emerging markets for EFSS
3. Identify the challenge areas and address them
4. Develop strategies based on the drivers, trends and highlights for each of the segments
5. Evaluate the value chain to determine the workflow
6. Recognize the key competitors of this market and respond accordingly
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for Enterprise File Synchronization and Sharing (EFSS). As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for Enterprise File Synchronization and Sharing (EFSS) is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the Enterprise File Synchronization and Sharing (EFSS) Market Report:
- What is the projected size of the global Enterprise File Synchronization and Sharing (EFSS) market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Enterprise File Synchronization and Sharing (EFSS) industry?
- What are the major market trends that are affecting the expansion of the Enterprise File Synchronization and Sharing (EFSS) market?
- What obstacles must be overcome in order to achieve sustained growth in the Enterprise File Synchronization and Sharing (EFSS) market?
- What opportunities and threats do vendors in the global Enterprise File Synchronization and Sharing (EFSS) market face?
- What are the raw materials and manufacturing equipment used in the production of Enterprise File Synchronization and Sharing (EFSS), and what is the manufacturing process?
- What are the different types and applications of Enterprise File Synchronization and Sharing (EFSS), and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Enterprise File Synchronization and Sharing (EFSS) market?
- What factors are driving the growth of the Enterprise File Synchronization and Sharing (EFSS) market in the top regions worldwide?
- Who are the major players in the global Enterprise File Synchronization and Sharing (EFSS) market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Enterprise File Synchronization and Sharing (EFSS) market?
- What are the main findings of a five forces analysis of the global Enterprise File Synchronization and Sharing (EFSS) market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our Enterprise File Synchronization and Sharing (EFSS) Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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