Enterprise File Synchronization and Sharing (EFSS) Market Analysis

Enterprise File Synchronization and Sharing Market Analysis

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Based on the deployment model, the market is divided into on-premises and cloud. The cloud segment is expected to hold around 65% of the market share by 2032. The increasing adoption of cloud deployment models is contributing to EFSS market growth. Organizations are migrating to cloud based EFSS solutions to leverage scalability, flexibility, and cost efficiency while ensuring seamless access to files across distributed teams and devices.
 

For instance, in July 2023, DigiBoxx launched a cloud storage solution that caters to both enterprises and individuals. This innovative product offers scalability and a user-friendly interface along with affordable & secure cloud storage options, setting a new standard for digital storage accessibility and security. The service emphasizes data sovereignty by keeping critical data created in India within the country's borders, ensuring privacy and security. DigiBoxx addresses the growing demand for cloud based EFSS solutions that prioritize accessibility, security, and affordability.
 

Based on the application, the enterprise file synchronization and sharing market is categorized into file storage & backup, content management backup, mobile access & productivity, document collaboration, and analytics & reporting. The file storage & backup segment accounted for 28% of the market share in 2023, due to increasing convergence of file storage and backup functionalities within EFSS platforms. Organizations seek integrated solutions that provide seamless file synchronization, sharing, and backup capabilities to streamline data management and ensure data resilience.
 

For instance, in February 2024, Rakuten Symphony unveiled the Rakuten Drive, a comprehensive file storage cloud service available in Japan. This platform delivers secure & intuitive file storage and sharing solutions tailored for individual users and businesses alike. With Rakuten Drive, users can swiftly send large files, seamlessly integrate Microsoft 365 productivity applications for real-time document editing & viewing and enjoy a secure & user-friendly experience.
 

North America enterprise file synchronization and sharing market recorded around 33% of the revenue share in 2023. In North America, the growing adoption of hybrid cloud solutions is proliferating market growth. Organizations are leveraging hybrid architectures to balance data control and accessibility, spurring the demand for EFSS platforms that offer seamless integration across on-premises and cloud environments to facilitate file synchronization and sharing.
 

For instance, in October 2023, IBM unveiled the latest IBM Storage Scale System 6000, an expansive global data platform engineered to tackle the current challenges of data-heavy and AI workloads. Offering high performance, it delivers up to 7 million IOPs and up to 256GB/s throughput for read-only tasks per system, all within a space-efficient 4U footprint. By delivering a cloud-scale global data platform equipped with superior performance, data consolidation capabilities, and robust security measures, IBM responded to the increasing need for EFSS platforms supporting data-intensive workloads and AI applications in hybrid cloud settings.