The global enterprise file sharing and synchronization (EFSS) market was valued at more than $1 billion in 2015 and is expected to reach almost $4 billion by 2020, says Technavio.
Technavio has announced its latest market research report on EFSS for the forecast period, 2016-2020. This market analysis, under the enterprise application vertical discusses the major drivers and key emerging trends that will influence the growth of the global EFSS market during the forecast period. Some of the top vendors listed in this industry analysis include ACCELLION, Box, Citrix Systems, Dropbox, Egnyte, Google, Microsoft, and Syncplicity.
In terms of geographical analysis, APAC is expected to showcase the fastest growth during the forecast period and is likely to account for a revenue of almost $887 million by 2020. China, Japan, South Korea, Taiwan, India, and Australia are likely to emerge as the key revenue-generators.
“The adoption of BYOD spurs the need to separate enterprise files from other personal data. In such cases, enterprises adopt digital rights management (DRM) policies to enhance their data security. DRM, when embedded with EFSS, controls each file’s behavior in the employee’s personal device and prevents unauthorized content redistribution. The number of enterprises adopting EFSS solutions embedded with DRM to secure their files and data is on the rise, leading to the growth of the global market,” says Ishmeet Kaur, a lead analyst at Technavio for research on enterprise application.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Increased adoption of virtualization
Virtualization can enhance the productivity of computing equipment such as servers, storage devices, and other network peripherals. It can manage high workloads, facilitates data access, and storage process from the desired location to increase the efficiency of the entire network infrastructure. EFSS solutions help enterprises to efficiently manage and access enterprise content and applications in a virtual environment. The projected increase in the number of virtual machines during the forecast period will prompt companies to scale up and meet new demands that include mobility applications.
High adoption of enterprise mobility applications
Enterprise mobility applications enable employees to work remotely and maintain regular working hours. These solutions help employees to seamlessly share files on different mobile and computing devices and operating systems. EFSS solutions support enterprise mobility with features such as application management and content management. Many companies across the globe are adopting EFSS as the main tool to manage their enterprise mobility.
Consumerization of IT
Consumerization of IT refers to the use of technologies without external IT support to standardize the IT processes in an organization. The rising adoption of BYOD policy is propelling the volume of enterprise content, applications, internal collaboration tools, and local drives. The adoption of EFSS solutions among enterprises to share and synchronize information among employees, customers, and partners is on the rise owing to the several advantages it brings about. EFSS solutions enable enterprises to quickly access, share, and manage information that is critical or difficult to find. EFSS solutions also enable employees to securely use cross-device data sharing applications, personal applications, and mobile devices for both business and personal purposes.
Some of the other prominent vendors identified in this report are Acronis International, Alfresco Software, BlackBerry, Commvault, FileCloud, Hightail, Hitachi Data Systems, Huddle, IBM, Intralinks, Micro Focus, PowerFolder, Thru, VMware, and Workshare.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global EFSS Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global IT Asset Management Market 2016-2020
- Global Enterprise Information Management Market 2016-2020
- Global Enterprise Application Integration Market 2016-2020
- Global Runtime Application Self-Protection Security Market 2016-2020
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