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Enterprise file synchronization and sharing (EFSS) is a service that enables users to save files such as photos, documents, and videos in cloud or on-premises storage and then access them on other computing devices with several people. Increase in security and privacy concerns and substantial shift of organizations from traditional file sharing techniques to digital technique is expected to generate new opportunities in the market. EFSS services include characteristics such as live document version tracking, commenting, and workflow process management to assist users in store, review, edit, and share files. Enterprise file-sharing tools play a significant role in this transformation by providing an integrated system for employees to handle collaboration, communications, and content management tasks.
Rise in number of digital workplaces and mobile workforces and increase in collaboration among employees and enterprises act as the major drivers for the EFSS market. Moreover, stringent government regulations and emphasis of businesses on security aspects of corporate data also propel growth of the market. However, high cost of EFSS solutions is anticipated to hamper growth of the market. Contrarily, rise in adoption of cloud-based solutions and emerging potential markets acts as opportunities for the global market.
Mobile development has radically changed the way businesses function. Enterprises have diverse demands and needs when it comes to administering business information. EFSS solutions enable enterprises to effectively collaborate between various platforms, devices, and networks so that employees can access, share, and sync information in real time. As per industry professionals, traditional collaboration tools lack necessary capabilities to fulfill the demands of today’s businesses, thereby creating problems for IT administrators and possible security risks for enterprises.
EFSS solutions provide assistance to business workforces, who work together on files and send them across to co-workers, customers, and partners in real time. This helps to improve workforce collaboration and productivity. Furthermore, EFSS solutions also provide complete transparency to IT administrators and ownership of data to enterprises. Firms all over the world are anticipated to rapidly adopt EFSS solutions within enterprise environments to enhance the productivity of the mobile workforce.
In spite of the huge benefits related to implementation of EFSS solutions and services, high cost involved functions as a restraint for growth of the EFSS market. Vendors provide EFSS solutions at an extremely high cost as an enterprise subscription model or a per-user licensing model. The annual Average Selling Price (ASP) range of EFSS solutions fluctuates from USD 150 to USD 170 for a single user and includes customization, integration, price of cloud features, and recovery tools, among others. Businesses have separate pricing plans for customers based on their business size.
A diverse pricing model would make it more beneficial for small business users and developers who lack a strong financial position. However, some retailers offer solutions based on subscription model to provide to a large number of employees. Businesses choose integrated EFSS solutions with other third-party applications, resulting in increased costs. The high cost of EFSS solutions is anticipated to restrain the market growth. With the advent of the cloud, several new and emerging players are offering solutions at a low cost, which could increase the adoption of EFSS solutions among SMEs.
Key benefits of the report:
This study presents the analytical depiction of the global enterprise file synchronization and sharing industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global enterprise file synchronization and sharing market share.
The current market is quantitatively analyzed to highlight the global enterprise file synchronization and sharing market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis based on the present and future competitive intensity of the market
Key Market Segments
Key Market Players
