Global Enterprise File Synchronization and Sharing Market to 2030: High Demand for Secured Sharing of Corporate Data Drives Growth
Sunday, April 16, 2023
DUBLIN, April 12, 2023 /PRNewswire/ -- The "Global Enterprise File Synchronization and Sharing Market, Component (Solutions, Services), Deployment Mode (On-Premise and Cloud), Industry Vertical (Healthcare, IT Telecommunications, and Retail), and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
The global market size for Enterprise File Synchronization and Sharing (EFSS) is expected to reach USD 6.19 billion in 2021, with a projected revenue compound annual growth rate (CAGR) of 27.9% during the forecast period.
Several factors are expected to drive market growth, including increased demand for secure sharing of corporate data, the adoption of cloud-based solutions, the growth of digital and mobile workforces, and the need for effective interaction between employees and organizations. Strict government regulations regarding data security also contribute to market growth.
The market is also benefiting from the increasing volume of data across enterprises, the demand for accessible data for remote workers, and the adoption of advanced technologies such as IoT, AI, analytics tools, and automation. EFSS software enables secure exchange of documents, videos, images, and other media among devices and individuals. Organizations can use EFSS services to improve content management, increase collaboration, and secure employee file sharing.
EFSS solutions offer a range of security features, including multifactor authentication, data loss prevention, single sign-on, data encryption, containerization, and enterprise data tracking. This helps to protect enterprise data and offers a more secure alternative to consumer-oriented public cloud file-sharing services.
However, the cost of implementing EFSS services and growing concerns about data security and privacy are potential restraints to market growth. Enterprises are concerned about the lack of security features that could lead to the leakage of enterprise data and the growing threats of cyber-attacks that exploit security vulnerabilities.
Market Dynamics
Driver:
Rapid growth of digital workplace and mobile workforce
The increasing digitization of the workforce, as well as the adoption of hybrid cloud services, is driving the demand for Enterprise File Synchronization and Sharing (EFSS) solutions.
According to research, around 9% of enterprise IT environments are entirely cloud-based, while 54% are mostly on-premises with some cloud and 29% are mostly on-premises with some cloud. Additionally, the rise of work-from-home jobs and the need for collaboration between employees and organizations, regardless of their location, is fueling the demand for EFSS solutions.
Smart IoT applications such as sensor-enabled space utilization, remote equipment management, and cross-platform communication are expected to further support the growth of the EFSS market, driving process automation and employee productivity.
Furthermore, digital workplaces can enhance collaboration and productivity of employees, improve company decision-making, expand customer reach through various social platforms, engage customers successfully, and generate business revenue. These factors are driving the revenue growth of the market.
Restraint:
Growing concerns for security and data privacy
Compliance with various regulation requirements can hinder the ability of EFSS solutions to provide some features. Moreover, many EFSS solutions may not meet the security requirements of highly regulated organizations, exposing them to risks of data breaches and cyber-attacks, resulting in significant business losses.
For example, on July 23, 2021, Kaseya, a developer of IT solutions for multiple Managed Service Providers (MSPs) and business clients, reported that it had been targeted in a cyberattack over the American Independence Day weekend. According to current estimates, ransomware may have compromised 800 to 1500 small to medium-sized businesses via their MSP.
Market Dynamics
Drivers
-- High demand for secured sharing of corporate data
-- Surge in adoption of cloud-based solutions
-- Rapid growth of digital workplace and mobile workforce
-- Need for effective interaction between employees and organization
-- Strict government norms regarding security of data
Restraints
-- High cost of investment in EFSS solutions
-- Growing security concerns and data privacy issues
Companies Mentioned
-- Box
-- ACCELLION
-- Dropbox
-- Google
-- Citrix Systems Inc.
-- Egnyte Inc.
-- Microsoft
-- Thomson Reuters
-- VMware Inc.
-- IBM
For more information about this report visit https://www.researchandmarkets.com/r/3bqwxr
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/global-enterprise-file-synchronization-and-sharing-market-to-2030-high-demand-for-secured-sharing-of-corporate-data-drives-growth-301795661.html
SOURCE Research and Markets
|
|
|
|
|
 |
Asetek - Mandatory Notification of Trade | Jan 22, 2026
|
|
Tomorrowland Brings the Magic to Shanghai for a Spectacular First Indoor Edition in China | Jan 22, 2026
|
|
Rent Manager Earned Best Real Estate Software Product Award and Multiple Review Badges from G2 Platform | Jan 22, 2026
|
|
BC.GAME to Host "Stay Untamed" Night During Abu Dhabi's Packed Web3 Summit Week | Jan 22, 2026
|
|
Auburn University's Applied Research Institute Expands Advanced Manufacturing Capabilities with CF3D Enterprise Cell | Jan 22, 2026
|
|
AMPERA ANNOUNCES LOCATION FOR GLOBAL HEADQUARTERS | Jan 22, 2026
|
|
California Divorce Mediation Center Unveils Modern Website Redesign | Jan 22, 2026
|
|
Culture and tourism sectors thrive in Xiamen | Jan 22, 2026
|
|
Gemmy Alerts Customers: Fake Websites Target Holiday Decorators | Jan 22, 2026
|
|
AMPLIFY Named Finalist in Three Categories at the 2026 Golden Gavel Awards | Jan 22, 2026
|
|
|
