Enterprise file synchronization and sharing are software services which help to securely synchronize and share documents, photos, videos, and files from multiple devices with employees, and external customers and partners.
Global Enterprise File Synchronization and Sharing (EFSS) Market – Dynamics
Increasing Adoption of Automation & Digitization by SMEs
Both large enterprises as well as small & medium enterprises are extensively adopting digitization, smart technologies, and automation. Overall, 90%-95% of total enterprises are small & medium in size while only 5%-10% are large. Majority of SMEs within the U.S have integrated or are looking to integrate their work flow with automation to gain operational efficiency. Thus, adoption of enterprise file synchronization and sharing (EFSS) has also increased globally. Adoption of automation by SMEs in the workflow process is expected to drive the growth of the enterprise file synchronization and sharing (EFSS) market.
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Increasing Need to Reduce Operational Cost
Organizations are increasingly seeking to reduce the operational cost to survive in this competitive environment. Financial institutions, retail enterprises, and many other industries are eliminating manual operational work and shifting the workflow on to the software. Enterprise file synchronization and sharing (EFSS) eliminates manual work and reduces the labor cost. Labor cost is one of the major costs which needs to be paid by organizations to maintain, manage, and validate the files.
Constant Security Concerns and Network Issues Restricting Market Growth
Cloud Security and Network Transmission Issues
Enterprise file synchronization and sharing (EFSS) models rely heavily on cloud services and are susceptible to service impairment or control loss, data leakage, service loss including service interruption, or in worse cases, monetary loss. The user experience may also be affected by unstable network transmissions at some places and this would limit the reach of cloud based services including cloud-based and hybrid services/solutions in the affected regions.
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North America Expected to Dominate the Global Enterprise File Synchronization and Sharing (EFSS) Market
In terms of region, the global enterprise file synchronization and sharing (EFSS) market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global enterprise file synchronization and sharing (EFSS) market during the forecast period, due to increased adoption of digitization and automated workflow system within SMEs.
COVID-19 Impact on the Global Enterprise File Synchronization and Sharing (EFSS) Market
It is expected that the lock down period in many countries across the globe due to the outbreak of COVID-19 will moderately impact the growth and adoption of enterprise file synchronization and sharing (EFSS). Companies are likely to resist in investing in new technology due to the expected economic depression across the globe.
Global Enterprise File Synchronization and Sharing (EFSS) Market – Competitive Landscape
- In March 2018, a leading cloud-agnostic Enterprise File Sharing and Sync (EFSS) platform FileCloud announced a partnership with BESTIR Software Services in India to provide best-in-class technology and services, and transforming file services and collaboration within organizations in India.
FileCloud
FileCloud is a developer of unified, secure, enterprise file service platforms that organizes enterprise data, and enhances collaboration and productivity, while providing ironclad data protection. It offers powerful file sharing, sync, and mobile access capabilities on public, private, and hybrid clouds.
Global Enterprise File Synchronization and Sharing (EFSS) Market: Segmentation
The global enterprise file synchronization and sharing (EFSS) market can be segmented based on:
- Component
- Deployment
- Region
Global Enterprise File Synchronization and Sharing (EFSS) Market, by Component
Based on component, the global enterprise file synchronization and sharing (EFSS) market can be divided into:
- Standalone
- Integrated
Global Enterprise File Synchronization and Sharing (EFSS) Market, by Deployment
Based on deployment, the global enterprise file synchronization and sharing (EFSS) market can be divided into:
- On-premise
- Cloud
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