According to a research report “Enterprise File Synchronization and Sharing (EFSS) Market With COVID-19 Impact by Component (Solutions, Services), Deployment Mode (Cloud, On-premises), End User (Large Enterprises, SMEs), Vertical (BFSI, Healthcare), and Region – Global Forecast to 2026″ published by MarketsandMarkets, the EFSS market size is projected to grow from USD 6.1 billion in 2021 to USD 20.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 27.4% during the forecast period.
Major factors driving the growth of the EFSS market include continuously rising digital workplace and mobile workforce, increasing collaborations between employees and enterprises, emphasis of businesses on corporate data security, and stringent government compliances and regulations.
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By component, the solutions segment to lead the market during the forecast period
EFSS solution providers offer two types of EFSS solutions, namely, standalone EFSS solution and integrated EFSS solution (an integration of EFSS solutions with other third-party business tools so that these solutions can match up to the business needs of enterprises). EFSS solutions help enterprises seamlessly access and share files of any size between employees, co-workers, partners, clients, and other business stakeholders.
By vertical, the healthcare segment to grow at the highest CAGR during the forecast period
The use of mobile devices among patients, doctors, nurses, and other supporting staff has increased across the globe, which is expected to drive the adoption of EFSS solutions in this industry. A bunch of information is shared by healthcare stakeholders via mobile devices, laptops, and desktops. EFSS solutions help healthcare organizations securely send and access files by ensuring data security and compliance. These solutions also help healthcare stakeholders in enhancing patient management, streamlining clinical workflows, and ensuring compliance and security of devices and applications.
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North America to hold the highest market share during the forecast period
North America has been extremely responsive toward adopting the latest technological advancements, including mobile devices, cloud computing, and IoT, within enterprises. Organizations in this region have adopted the mobile-first strategy to reshape the journey of their employees. The major growth drivers for this region are advanced network technologies, the proliferation of mobile workforce, advanced mobile platforms, and SaaS flexibility, used by various enterprises.
The major players of the EFSS market include Box (US), Citrix Systems (US), Dropbox (US), Microsoft (US), Google (US), Thomson Reuters (Canada), IBM (US), Blackberry (Canada), OpenText (Canada), VMware (US).
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