Enterprise File Sharing and Synchronization (EFSS) Marketis expected to grow from US$ US$ 1622.2 Mn in 2016 to US$ 10586.5 Mn by 2025 at a CAGR of 23.2% between 2016 and 2025.
Cloud deployment model expected to continue its dominance. Currently, almost 60% of the EFSS deployments are on cloud and hybrid model. Cloud models are most preferred by smaller and large organizations to store, manage and share efficiently the critical and sensitive files. Larger organizations also prefer cloud deployment models for their mission critical data. Lesser investments and easy integration with the systems have made the adoption of cloud deployment model more attractive among the organizations.
Key trend which will predominantly effect the market in coming year is Enterprise File Sharing and Synchronization (EFSS) Market consolidation due to growing competition. Enterprise File Sharing and Synchronization (EFSS) Market is about to see consolidation on many accounts. Either the smaller companies of the ecosystem would be acquired by the larger ones or the smaller companies are about to extinguish. The companies that survive in the ecosystem would be on account of innovations and to support the digital workplace or modernize corporate data infrastructures. The EFSS vendors would be classified in a broader category and be acquired by players who want to add EFSS as feature to their larger platform of technology. The needs and wants of customer increase each passing day and a simple share and sync application
Enterprise File Sharing and Synchronization (EFSS) Market by industry vertical is segmented into healthcare & life sciences, financial services and insurance, telecommunication & IT, media & entertainment, consumer goods and retail, industrial good and automotive and others (energy, non-profit organization, government, legal services, architecture engineering, and construction and education). The propagation of consumer mobility and BYOD programs in the enterprise are some of the trends contributing to the emerging Enterprise File Sharing and Synchronization (EFSS) Market. Almost all the industry verticals are increasingly demanding EFSS capabilities that improve the mobile workers’ collaboration and productivity while limiting security risks.
The overall Enterprise File Sharing and Synchronization (EFSS) Market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Enterprise File Sharing and Synchronization (EFSS) Market.
Some of the key players of Enterprise File Sharing and Synchronization (EFSS) Market include
Citrix Systems, Inc.