The rising digitalization in file sharing solutions and business processes are anticipated to drive enterprise file synchronization & sharing market over the review period. According to the innovative report by Market Research Future (MRFR), the global enterprise file synchronization & sharing market 2020 is slated to obtain a significant market valuation at a steady CAGR over the review period.
Drivers and Restraints
With the support of the Bring Your Own Device (BYOD) trend, employees can gain access to work data on personal devices, including laptops, smartphones, and tablets, to get remote access to data. BYOD is the model where the employee must carry their own laptop, smartphones, USB drivers into workplaces and attach them to the servers for office tasks to surge the work competence and reduce the operational expenditure of the company.
This is projected to result in the requirement of a shared platform for file sharing which is also anticipated to contribute to the growth of the enterprise sharing & synchronization market.
On the other hand, the greater cost of investment and lack of scale ability are likely to deter market growth. A notable lack of awareness about the advantages of enterprise file sharing & synchronization solution is also impeding market growth and may hamper the market over the review period.
The top players identified by MRFR in the Covid-19 Impact on Enterprise File Synchronization and Sharing Market are Dropbox (US), Microsoft Corporation (US), Citrix Systems (US), BlackBerry (Canada), IBM Aspera (US), CodeLathe (FileCloud) (US), VMware Inc. (US), Google Inc. (US), OpenText (Canada), Accellion (US), Thru. Inc. (US), Syncplicity (US), Egnyte (US), Acronis International (Switzerland), Nextcloud (Germany), j2 Global (SugarSync) (US), SkySync (US), HighQ Solutions (UK), ownCloud (Germany), Intralinks (US), Inspire-Tech (Singapore/US), Qnext Corp. (FileFlex) (Canada), XMedius Solutions (Canada), Northbridge Secure Systems (Australia), MyWorkDrive by Wanpath LLC (US), and CTERA Networks (Israel/US) among others.
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The enterprise file synchronization & sharing market is analyzed on the basis of organization size, deployment type, component, vertical.
On the basis of the component, the global market for enterprise file synchronization & sharing is divided into integrated EFSS solution standalone EFSS solution, and services. Moreover, the services segment has been are further segmented into professional service and managed service. Professional services are sub-divded into consulting services, integration and deployment, and training & support.
Based on the deployment type, the enterprise file synchronization & sharing market is bifurcated into cloud and on-premise. The cloud segment has been divided into the public, private, and hybrid cloud.
Based on the organization size, the global Covid-19 Impact on Enterprise File Synchronization and Sharing Market is bifurcated into large enterprises, and small and medium-sized enterprises (SMEs).
On the basis of the vertical, the global Covid-19 Impact on Enterprise File Synchronization and Sharing Market is segmented into healthcare, software & technology, government, and Public Sector, education, retail, legal, media & entertainment, BFSI, and others.
On the basis of the region, the global enterprise file synchronization & sharing has been analyzed into Europe, the Asia-Pacific, North America, and the rest of the world.
Europe is predicted to lead the enterprise file synchronization & sharing market in terms of value and account for a considerable market share over the review period, due to developed economies such as Germany, the UK, France, and along with the constant adoption of the latest technological advancements such as the incorporation of cloud and mobile technologies within standard enterprise file sharing and synchronization solutions.
The Asia Pacific enterprise file synchronization & sharing market is anticipated to develop at a higher growth rate, and record a considerable market share through the forecast period owing to the significant shift toward digitization of procedures, which is resulting in the generation of high volumes of data and growing the demand for fortification of vital enterprise data collected from several sources.