How Much Will The Global Enterprise File Synchronization And Sharing (EFSS) Market Grow In The Upcoming Years?
The enterprise file synchronization and sharing (EFSS) market size has seen significant growth in the past few years and is expected to continue its upward trajectory. It expanded from $12.11 billion in 2024 to an anticipated $15.09 billion in 2025, signifying a compound annual growth rate (CAGR) of 24.6%. Key factors driving this robust growth include the proliferation of mobile devices, file version control, improved productivity, and significant concerns with data security, analytics, and reporting capabilities.
Moreover, the enterprise file synchronization and sharing (EFSS) market size is projected to experience exponential growth in coming years, and increase to $41.98 billion in 2029 with a compound annual growth rate (CAGR) of 29.1%. This predicted growth during the forecast period can be attributed to heightened security measures, content lifecycle management, user behavior analytics, and increased concerns over data residency and sovereignty. Integration with identity and access management (IAM) solutions, mobile file access and collaboration, hybrid cloud deployment models, compliance with data privacy regulations, and enterprise-grade file syncing and sharing solutions are the major trends anticipated to shape the market in the forecast period.
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What Is Driving The Growth Of The Enterprise File Synchronization And Sharing (EFSS) Market?
One of the primary drivers for the growth of the enterprise file synchronization and sharing market is the increase in data security concerns globally. Recognizing, evaluating, and mitigating threats connected to digital data security form a crucial aspect of a formidable security plan. EFSS platforms play a key role in safeguarding the data through integrated security features such as authentication, data encryption, containerization, and tracking. As revealed by AAG IT Services, a UK-based provider of IT products and services, in just the first half of 2022, there were over 236.1 million ransomware attacks, affecting 53.35 million US citizens.
What Are The Key Segments In The Global Enterprise File Synchronization And Sharing (EFSS) Market?
1) By Component: Solutions, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Application: Enterprise Content Management Systems, Enterprise Storage And Backup, Enterprise Document Collaboration, Enterprise Mobility, Other Applications
4) By End User: IT And Telecom, Banking, Financial Services and Insurance, Retail, Manufacturing, Education, Government, Other End Users
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Which Major Players Are Operating In The Global EFSS Market?
Major players in the enterprise file synchronization and sharing (EFSS) market include Citrix Systems Inc., Axway Inc. (Syncplicity is a product of Axway), Egnyte Inc., Nextcloud GmbH, OpenText Corporation, Box Inc., Microsoft Azure (part of Microsoft Corporation), Dropbox Inc., Accellion Inc., Intralinks Holdings Inc., SkySync LLC, International Business Machines Corporation, Acronis International GmbH, CTERA Networks Ltd., HighQ Solutions Limited, XMedius Solutions Inc., Workshare Ltd., CodeLathe LLC, ExaVault Inc., GlobalSCAPE Inc., Acronis LLC, and SmartFile Corp.
What Are The Emerging Trends In The Global EFSS Market?
Notable companies operating in the enterprise file synchronization and sharing (EFSS) market are now developing technologically advanced solutions, such as innovative storage platforms, to improve customer experience and provide advanced features. For instance, Hitachi Vantara, a US-based business launched the Hitachi Virtual Storage Platform One in October 2023. This single hybrid cloud data platform is specially designed to facilitate a unified data plane for both structured and unstructured data across block, file, and object storage. This allows businesses to run various applications on-premises and in the public cloud seamlessly while eliminating common complexities encountered today.
Which Region Is The Fastest Growing In The Global EFSS Market?
In 2024, North America was the largest region in the enterprise file synchronization and sharing (EFSS) market. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. The EFSS market report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Enterprise File Synchronization And Sharing (EFSS) Market Report 2025 Offer?
Enterprise file synchronization and sharing (EFSS) is a key tool that aids content management, collaboration, and secure file sharing among employees. With EFSS, files are saved in an authorized data repository leveraging file synchronization or copying, allowing remote access by employees using EFSS-compatible PCs, tablets, and smartphones. The Enterprise File Synchronization And Sharing (EFSS) Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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