The North America Enterprise File Synchronization and Sharing (EFSS) Market would witness market growth of 25.0% CAGR during the forecast period (2021-2027).
Enterprise file synchronization and sharing are software services that allow employees and external clients and partners to securely synchronize and share documents, photographs, videos, and files from different devices. Enterprise file synchronization and sharing (EFSS) models depend completely on cloud services and are vulnerable to service disruption, data leakage, service loss, and, in the worst-case scenario, monetary loss. Unstable network transmissions may potentially disrupt user experience in specific areas, limiting the reach of cloud-based services, including cloud-based and hybrid services/solutions, in the affected areas.
When compared to traditional data sharing methods, EFSS solutions provide several operational benefits. Improved document security and confidentiality, increased flexibility and scalability, faster core back-end procedures, real-time access and elimination of travel and other expenses, and safe and secure file sharing and storage are among the key benefits of EFSS. To speed up corporate processes, EFSS is commonly utilized in cloud virtualization. In addition, Enterprise storage and backup, workplace enterprise mobility, content management systems, enterprise mobility, and enterprise document collaboration are just a few of the areas where it can be used.
Because of the presence of countries like the United States and Canada, the region has large markets for managed services, professional services, cloud, IT and telecom, and retail. In addition, the United States has a considerable market share in the IT and telecom sectors, which is expected to increase even more over the projection period.
Microsoft, Dropbox, Citrix, Google, VMware, and other EFSS vendors are centered in the United States. Moreover, due to the high pace of development of small and medium firms in North America, the region would witness more demand for advanced data security solutions. Further, modern technologies like mobile and cloud, are increasingly being integrated into traditional EFSS by SMEs in the region, resulting in cost savings. According to the US Small Business Administration, the US had 30.7 million small enterprises in 2019, accounting for 99.9% of all businesses in the country.
The US market dominated the North America Enterprise File Synchronization and Sharing (EFSS) Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $6,527.6 million by 2027. The Canada market is anticipated to grow at a CAGR of 27.8% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 26.7% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Standalone and Integrated. Based on Services Type, the market is segmented into Professional Services and Managed. Based on Organization Type, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises (SMEs). Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Vertical, the market is segmented into BFSI, Software & Technology, Government & Public Sector, Healthcare, Education & Legal, Retail and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Enterprise File Synchronization and Sharing (EFSS) Market is Estimated to reach $5.4 Billion by 2027, at a CAGR of 26.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Box, Inc., Microsoft Corporation, VMware, Inc., Google LLC, OpenText Corporation, Thomson Reuters Corporation, Dropbox, Inc., Citrix Systems, Inc., and BlackBerry Limited.
By Component
By Solution Type
By Services Type
By Organization Type
By Deployment Mode
By Vertical
By Country
Companies Profiled
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