According to a report added to the repository of Radiant Insights, Inc.; the global enterprise file sync and share (EFSS) market is predicted to expand at a phenomenal CAGR over the forecast period (2018 to 2022). Growing requirement for improved data security in enterprises while sharing and synchronization of crucial data among multiple devices is anticipated to propel demand for innovative EFFS solutions. Such solutions are predicted to distract employees from using consumer based applications to store, manage, and share confidential corporate data.
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Increasing adoption of collaboration tools in enterprises to manage their data is anticipated to fuel growth of the market. Growing necessity for high-level security during file sharing in enterprises can spur market growth in the coming years. High demand for the facility to access corporate documents through mobile devices such as smart phones and laptops can stimulate growth of the market. Rising focus on implementation of employee-centricity across several verticals within an organization is expected to further drive the market. High adoption of information governance and big data can foster growth of the market during the forecast period.
For instance, cloud-agnostic EFSS platform named FileCloud recently announced launch of FileCloud enterprise edition. This new edition can enable management, IT administration, and compliance over 1000 users across several enterprise-level solutions. It can simplify data security in extreme cloud-based business environment. In addition, it can solve the problem related to loss of control over information assets and intellectual properties.
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The global enterprise file sync and share (EFSS) market can be segregated on the basis of deployment type, application, and region. Based on deployment type, the market can be classified into on-premises and hosted. Based on applications, the market can be divided into enterprise storage and backup, enterprise content management system, enterprise document collaboration, cloud virtualization, enterprise mobility, and others. In the coming years, computing virtualization segment is expected to witness maximum growth owing to enhanced security of data in enterprises. In addition, hosted EFSS solutions are likely to display better traction among small medium enterprises owing to low cost and mobility.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East and Africa (MEA). In Europe, the EFSS market is likely to grow at remarkable CAGR over the forecast period owing to strong technology background and proliferation of computing devices. In addition, high demand for protection of crucial data collected from various sources is likely to stimulate demand.
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In North America, the enterprise file sync and share (EFSS) market is expected to attain maximum revenue owing to high development rate in small and medium enterprises (SME’s) across the region. In addition, growing adoption of modern technological advancements such as integration technologies with mobile and cloud technologies within conventional EFSS solutions can further propel the regional market.
In Asia Pacific, the market for enterprise file sync and share is likely to witness significant growth in the coming years owing to rising use of cloud computing and multiple devices in organizations. Such organizations are expected to be driven by their integral values to team up and share files across several corporate firewall borders.
In MEA, the enterprise file sync and share (EFSS) market is anticipated to register steady growth over the forecast period owing to increasing focus on data resulting in high volumes. Huge data volumes are projected to drive the requirement for advanced EFSS software and solutions to identify and synchronize high valuable sensitive data to low valuable sensitive data.
Some of the leading companies operating in the enterprise file sync and share market are Microsoft, Google, Blackberry, VMware, and Citrix.
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