Enterprise File Synchronization And Sharing (EFSS) Global Market Report 2021: COVID-19 Implications And Growth

The Business Research Company’s Enterprise File Synchronization And Sharing (EFSS) Global Market Report 2021 - COVID-19 Implications And Growth

LONDON, GREATER LONDON, UK, September 1, 2021 /EINPresswire.com/ -- Increasing data security concerns are expected to drive the growth of the enterprise file synchronization and sharing market in the coming years. Data security is a crucial aspect of a complete security plan that includes recognizing, evaluating, and mitigating threats connected to sensitive data security. Many businesses are concerned about the security of their digital data. To safeguard the data, enterprise file-synchronization and sharing (EFSS) platforms integrate security features such as authentication, data encryption, containerization, and tracking. According to IBM's 2020 Cost of a Data Breach Report, data breach occurrences cost $8.64 million, the highest in the world, followed by the Middle East at $6.52 million. Furthermore, in 2021, Marriott International reported that hackers gained access to 5.2 million records including personal data of visitors through employee login information at one of their franchise facilities.

North America was the largest region in the enterprise file synchronization and sharing market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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The global enterprise file synchronization and sharing market size is expected to grow from $4.65 billion in 2020 to $6.01 billion in 2021 at a compound annual growth rate (CAGR) of 29.3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The EFSS market size is expected to reach $15.94 billion in 2025 at a CAGR of 27.6%.

Major players in the enterprise file synchronization and sharing industry are Citrix Systems, Blackberry, Syncplicity by Axway, Egnyte, Nextcloud, OpenText, Box, Microsoft Azure, Dropbox Inc., Accellion, SugarSync, Northbridge Secure Systems, Intralinks, SkySync, IBM, Acronis, CTERA Networks, HighQ, and XMedius Solutions.

TBRC’s global enterprise file synchronization and sharing market report is segmented by component into solutions, services, by deployment mode into on-premises, cloud, by application into enterprise content management systems, enterprise storage and backup, enterprise document collaboration, enterprise mobility, others, and by end-user into IT and telecom, banking, financial services and insurance, retail, manufacturing, education, government, others.

Enterprise File Synchronization And Sharing (EFSS) Global Market Report 2021 - By Component (Solutions, Services), By Deployment Mode (On-Premises, Cloud), By Application (Enterprise Content Management Systems, Enterprise Storage And Backup, Enterprise Document Collaboration, Enterprise Mobility), By End-User (IT And Telecom, Banking, Financial Services and Insurance, Retail, Manufacturing, Education, Government), COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides enterprise file synchronization and sharing market overview, forecast enterprise file synchronization and sharing market size and growth for the whole market, enterprise file synchronization and sharing market segments, and geographies, enterprise file synchronization and sharing market trends, enterprise file synchronization and sharing market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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