![]() ![]() As per research, almost 9% of enterprise IT environments are entirely cloud-based, while 54% are largely on-premises with some cloud and 29% are mostly on-premises with some cloud. Rising digitalization and rapid adoption of the digital workforce as well as hybrid cloud services are a few of the key factors rising demand for EFSS solutions. Lack of security features can lead to leakage of enterprise data and growing threats of cyber-attacks exploiting security vulnerabilities are some concerns for enterprises.ĭriver: Rapid growth of digital workplace and mobile workforce However, the cost-intensive implementation of EFSS services and growing concerns for data security and privacy are some of the factors expected to provide some restraints to the growth of the market. Enterprise file synchronization and sharing are highly important with the rising need for employees to access company data from a variety of devices. EFSS can be deployed as private or hybrid cloud service or on-premises software. In addition, EFSS solutions offer multifactor authentication, data loss prevention, single sign-on, data encryption, containerization, and tracking of enterprise data for protection which is rising demand for EFSS services by various enterprises. Provision of secure sharing of corporate data instead of consumer-oriented public cloud file-sharing services which is difficult to track is one of the key factors driving revenue growth of the EFSS market. Services that include document version tracking, live commenting and workflow process management help users to review, edit, store and share files which are rising demand for EFSS solutions by various scales of enterprise. Henceforth, various organizations, large or small-medium, can deploy EFSS service to improve content management, increase collaboration activities, and secure employee file sharing. Users can utilize file synchronization, or copying, to save files in an authorized data repository where they may be accessed remotely by employees using EFSS-compatible PCs, tablets, or cellphones. Enterprise file-sharing software enables users to securely exchange documents, videos, images, and other media among various devices and individuals. Increasing volume of data as well as rapid adoption of advanced technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), analytics tools, and automation are contributing to revenue growth of the market. Moreover, cloud data centers processes around 94% of all workloads in 2021. As per 2020 Data Attack Surface Report research 100 zettabytes, which is a billion terabytes, of data is expected to be stored in cloud by 2025. ![]() Increasing vast volumes of data across enterprises, and rising demand for accessible data for a remote workforce with efficient data security is contributing to revenue growth of the market as well. ![]() High demand for secured sharing of corporate data, surge in adoption of cloud-based solutions, rapid growth of digital workplace and mobile workforce, need for effective interaction between employees and organization, and strict government norms regarding the security of data are some of the key factors expected to drive market revenue growth during the forecast period. The global Enterprise File Synchronization and Sharing (EFSS) market size is expected to reach USD 6.19 Billion in 2021 and register a revenue CAGR of 27.9% during the forecast period. Gain accurate insights regarding the negative impacts of COVID-19 on all markets and industries Download Sample Pdf ![]()
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