Market Overview 2022-2027

IMARC Group has recently released a new research study “Enterprise File Synchronization And Sharing (EFSS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

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The global Enterprise file synchronization and sharing (EFSS market size reached US$ 6.18 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 25.59 Billion by 2027, exhibiting a growth rate (CAGR) of 25.50% during 2022-2027.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What is a Enterprise File Synchronization And Sharing (EFSS) Market ?

Enterprise file synchronization and sharing (EFSS) represents a service that enables users to share and sync files, such as documents, photos, and videos, in cloud storage or on-premises and access them on other computing devices. These software aid in securely synchronizing and sharing the data among external clients, employees, and partners across various instruments.

EFSS services assist users in reviewing, editing, storing, and sharing documents using advanced features, including commenting, live version tracking, and workflow process management. In addition, communication, collaboration, and content management tasks can be controlled seamlessly via enterprise file-sharing tools. As a result, small and medium enterprises are extensively utilizing EFSS services to facilitate smart technology, digitization, and automation.   

What are the major market drivers in the Enterprise File Synchronization And Sharing (EFSS) Market ?

The escalating concerns toward the security and privacy of enterprise data, owing to the paradigm shift in information-sharing techniques of organizations from traditional to digital processes, are among the primary factors propelling the enterprise file synchronization and sharing (EFSS) market. Besides this, the elevating requirement for cloud computing solutions to minimize operational costs, on account of the increasingly competitive environment, is further augmenting the market growth.

Moreover, the continual reduction of manual functional work profiles and the rising number of EFSS software-based work are also catalyzing the global market. Apart from this, the increasing mobile workforces, digital workplaces, and the growing number of remote workers are acting as significant growth-inducing factors.

Additionally, the launch of several policies by the government bodies that emphasize the security aspects of corporate data is also stimulating the market growth. Furthermore, the emerging trend of urbanization and industrialization, high penetration of high-speed internet, the expanding 5G network, the inflating disposable income levels, and the extensive research and development (R&D) activities are expected to bolster the enterprise file synchronization and sharing (EFSS) market in the coming years.  

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

• Solutions
• Services

Breakup by Deployment Type:

• Cloud-based
• On-premises

Breakup by Organization Size:

• Large Enterprises
• Small and Medium-sized Enterprise

Breakup by Application:

• Cloud Virtualization
• Enterprise Content Management System
• Enterprise Mobility
• Enterprise Storage and Backup
• Enterprise Document Management
• Others

 By Geography:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

List of Major Key Players:

The major players in the market are  

Allegheny Technologies Incorporated

ArcelorMittal S.A., JSW Steel Ltd

Nippon Steel Corporation

Novelis Inc. (Hindalco Industries Limited)

 Nucor Corporation, POSCO

 Tata Steel Ltd, Thyssenkrupp AG

 United States Steel Corporation

and Voestalpine AG.

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