Enterprise File Synchronization And Sharing (EFSS) Global Market In Depth Research with Industry Size, Share, Verticals and Forecast 2033 | Citrix Systems Inc., BlackBerry Limited, Axway Inc., Egnyte Inc., Nextcloud GmbH

The enterprise file synchronization and sharing (efss) market size has grown exponentially in recent years. It will grow from $9.82 billion in 2023 to $12.35 billion in 2024 at a compound annual growth rate (CAGR) of 25.8%. The growth in the historic period can be attributed to proliferation of mobile devices, file version control, improved productivity, data security concerns, analytics and reporting capabilities..

The enterprise file synchronization and sharing (efss) market size is expected to see exponential growth in the next few years. It will grow to $32.19 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to enhanced security measures, content lifecycle management, user behavior analytics, data residency and sovereignty concerns, . Major trends in the forecast period include integration with identity and access management (iam) solutions, mobile file access and collaboration, hybrid cloud deployment models, compliance with data privacy regulations, enterprise-grade file syncing and sharing solutions..

Market Overview -
Enterprise file synchronization and sharing (EFSS) is used to improve content management, collaboration, and secure file sharing among employees. Enterprise file sync-and-share is a service that enables users to preserve files in the cloud or on-premises storage and subsequently access them on their desktops and mobile devices. They use file synchronization, or copying, to save files in an authorized data repository, which can subsequently be accessed remotely by employees using EFSS-compatible PCs, tablets, and smartphones.

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Growing Data Security Concerns And Their Impact On The Enterprise File Synchronization And Sharing (EFSS) Market
The increase in 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 AAG IT Services, a UK-based provider of IT products and services, globally, there were over 236.1 million ransomware attacks, and 53.35 million US citizens were affected by cybercrime in the first half of 2022. Also, according to Stefanini Group, a Brazil-based IT service management company, in 2021-2022, there has been a 300% increase in cybercrime.

Competitive Landscape -
Major companies operating in the enterprise file synchronization and sharing (efss) market report are Citrix Systems Inc., BlackBerry Limited, 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., SugarSync, Northbridge Secure Systems Pty Ltd., Intralinks Holdings Inc., SkySync LLC, International Business Machines Corporation, Acronis International GmbH, CTERA Networks Ltd., HighQ Solutions Limited, XMedius Solutions Inc., LeapFile Inc., Nomadesk BVBA, Soonr Inc., Varonis Systems Inc., WatchDox Inc., Workshare Ltd., Accusoft Corporation, AeroFS, BitTitan Inc., CodeLathe LLC, ExaVault Inc., FileZilla (FileZilla Project), GlobalSCAPE Inc., Siber Systems Inc., Acronis LLC, Ipswitch Inc., Morro Systems Inc., SmartFile Corp.

Blockchain Technology Revolutionizing Data Security In The Enterprise File Synchronization And Sharing (EFSS) Market
The introduction of blockchain technology for data security is shaping the enterprise file synchronization and sharing (EFSS) market. Blockchain technology has emerged as a critical tool in the field of data security. Through cryptography, decentralization, and consensus that ensure the safe transaction of data, blockchain proactively stamps out cyber threats and strengthens security infrastructure. Major companies operating in the enterprise file synchronization and sharing (EFSS) sector are focusing on blockchain technology to protect EFSS-stored data from ransomware and breaches. For instance, in August 2021, Acronis International GmbH, a Switzerland-based software company, launched Cyber Protect Cloud for secure file sync and share solutions in an organization. Acronis's Cyber Protect Cloud uses blockchain-based data notarization and electronic signatures to enhance its workplace collaboration services with data security on a pay-as-you-go basis.

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Key Segments -
The enterprise file synchronization and sharing (efss) market covered in this report is segmented -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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