Enterprise File Synchronization and Sharing Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Enterprise File Synchronization and Sharing (EFSS) Market covers analysis By Component (Solution and Services [Professional Services and Integration Services]), Deployment Model (Cloud, On-Premise, and Hybrid), End User (Small Enterprises, Mid-sized Enterprises, and Large Enterprises), and Industry Vertical (Healthcare & Life Sciences, BFSI, IT & Telecom, Media & Entertainment, Consumer Goods & Retail, Industrial Good & Automotive, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Sep 2023

  • Report Code : TIPTE100000183
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 126
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The enterprise file synchronization and sharing (EFSS) market is expected to grow from US$ 8.03 billion in 2022 to US$ 29.91 billion by 2028; it is estimated to grow at a CAGR of 24.5% from 2022 to 2028.

An EFSS solution allows individuals and organizations to share and synchronize various kinds of files across and out of the organization, allowing access to individuals, organizations, and customers. EFSS solutions can be deployed or provided to organizations via two different deployment models, on-premise and cloud. Each model has disadvantages and advantages, but the cloud deployment model has been the prime adopted model for this market. Apart from the on-premise and cloud deployment type, the hybrid model is also adopted by multiple enterprises as it benefits both on-premises and cloud models. The hybrid segment accounted for a major market share in 2021 and is anticipated to witness promising growth over the forecast timeline. Moreover, hybrid deployments are complex and typically require cautious planning and management of various factors such as budgets, faults, security, change control, and configuration management. The hybrid approach enables enterprises to take full advantage of the cost-effectiveness and scalability offered by a pure cloud environment without exposing critical data and applications to third-party vulnerabilities. Therefore, this method is ideal for organizations that aim to simplify mobile workers' access to corporate data via the cloud without creating and storing data replicas in a third-party cloud.

Citrix Systems, Inc.; Box Inc.; Dropbox; Microsoft; and Google are among the major players operating in enterprise file synchronization and sharing (EFSS) market.

Strategic Insights

Regional Analysis of Enterprise File Synchronization and Sharing (EFSS) Market

From the regional perspective, North America holds the largest share of the enterprise file synchronization and sharing (EFSS) market. There is massive adoption of EFSS solutions across major industry verticals, which is expected to contribute to the highest overall revenue generation worldwide. The US economic forecasts for the IT sector are uncertain. They continue to highlight an industry transitioning from legacy platforms to mobile, cloud, big data, and social solutions, propelling the enterprise file synchronization and sharing (EFSS) market growth in the region. Furthermore, Asia Pacific is anticipated to grow at the highest growth rate in the enterprise file synchronization and sharing (EFSS) market. The rising demand for flexibility across business operations has boosted the adoption of mobile apps, cloud software, and automation. Moreover, rapid technological advancement, the adoption of the work hybrid model, and the need for efficient and cost-effective management solutions are accelerating the growth of the enterprise file synchronization and sharing (EFSS) market in Asia Pacific.

Lucrative Regions for Enterprise File Synchronization and Sharing (EFSS) Market

Lucrative Regions for Enterprise File Synchronization and Sharing (EFSS) MarketMarket Insights – Enterprise File Synchronization and Sharing (EFSS) Market

Industry Vertical-Based Insights

Based on industry vertical, the enterprise file synchronization and sharing (EFSS) market is segmented into healthcare & life sciences, BFSI, IT & telecom, media & entertainment, consumer goods & retail, industrial goods & automotive, and others. In 2021, the IT & telecom segment accounted for the largest share of the enterprise file synchronization and sharing (EFSS) market. EFSS enables enterprises of all sizes to manage, track, and evaluate communication processes and enhances resource distribution channels to execute tasks effectively. Moreover, EFSS demand continues to rise in this segment as it provides major benefits such as data authentication, data replication, business file sync, and sharing and access controls, mainly for bring your own device (BYOD). These factors collectively drive the enterprise file synchronization and sharing (EFSS) market for the IT & telecom segment.

Players operating in the enterprise file synchronization and sharing (EFSS) market mainly focus on developing advanced and efficient products.

  • In September 2022, Google and Instructure, the developer of Elevate Data Sync, entered into a strategic partnership to bridge the gap for Google Classroom customers with a robust solution. In addition, educational institutions can maintain synchronization of course data between their student information systems (SIS) and Google Classroom.
  • In May 2022, Citrix Systems, Inc. partnered with Microsoft to introduce a new offering, "Citrix HDX Plus for Windows 365." Citrix HDX Plus for Windows 365 allows users to store, sync, and share their work files and focuses on enhancing the Cloud PC experience.

The enterprise file synchronization and sharing (EFSS) market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East, and South America. In 2022, North America led the market with a substantial revenue share, followed by Europe. Further, Asia Pacific is expected to register the highest CAGR in the enterprise file synchronization and sharing (EFSS) market from 2022 to 2028.

Citrix Systems, Inc.; Box Inc.; Dropbox; Microsoft; Accellion; VMware, Inc.; Google; Thomson Reuters; IBM Corporation; and OpenText are among the key players operating in the enterprise file synchronization and sharing (EFSS) market. The market report provides detailed market insights, which help the key players strategize growth in coming years.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Deployment Model, End User, Industry Vertical, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. Accellion, Inc
  2. Box, Inc.
  3. Citrix Systems, Inc.
  4. Dropbox, Inc
  5. Egnyte, Inc.
  6. Google,Inc.
  7. Microsoft Corporation
  8. SugarSync, Inc.
  9. Syncplicity LLC
  10. VMware, Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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