Chicago, Feb. 26, 2024 (GLOBE NEWSWIRE) — The global Enterprise File Synchronization and Sharing (EFSS) Market size is projected to grow from USD 9.4 billion in 2023 to USD 35.5 billion by 2028, at a CAGR of 30.4% during the forecast period, according to a new report by MarketsandMarkets™. EFSS solutions are increasingly seen as a way to streamline file management processes, reduce IT overheads, and improve overall operational efficiency, leading to cost savings for organizations.
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Enterprise File Synchronization and Sharing (EFSS) Market Dynamics:
Drivers:
Demand for collaboration tools
Continuously growing digital workplace and mobile workforce
Increasing collaborations between employees and enterprises
Emphasis on corporate data security
Stringent government regulations and compliance requirements
Restraints:
Legacy system integration in highly regulated industries
Need for heavy investments in EFSS solutions
Opportunities:
Increasing adoption of cloud-based solutions
Emerging economies with adoption potential
Rising demand for integrated EFSS solutions among businesses
List of Key Players in Enterprise File Synchronization and Sharing (EFSS) Market:
Box (US)
Citrix Systems (US)
Dropbox (US)
Microsoft (US)
Google (US)
Thomson Reuters (Canada)
IBM (US)
Blackberry (Canada)
OpenText (Canada)
VMware (US)
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Enterprise File Sync and Share (EFSS) solutions enable secure file storage, access, and collaboration across devices and locations. They integrate cloud-based storage with user-friendly interfaces, allowing employees to share and work on documents seamlessly. EFSS ensures data security through encryption and access controls, making it suitable for businesses with strict compliance requirements. These solutions enhance productivity by facilitating real-time collaboration and document versioning. Additionally, they offer mobile accessibility, enabling …