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The global Enterprise File synchronization and Sharing Market size was USD 6.1 Billion in 2021 and is expected to register a revenue CAGR of 27.4% over the forecast period. Companies are adapting to digital workplace trends to keep pace with advanced technologies and sophisticated business processes, which enhances customer engagement, increases revenue, and employee productivity and collaboration. The digital workplace also alters work culture, group cooperation, and legacy business systems, and businesses are embracing it to keep up with modern business practices and cutting-edge technologies. In addition to the digital workplace, the mobile workforce movement is also on the rise as smartphones become more prevalent among enterprise workers.
EFSS manufacturers now offer cloud-based solutions worldwide, thanks to advancements in data centers, the cloud, and network infrastructure. This cloud approach benefits clients in many ways, including scalability, flexibility, ease of access, compatibility with multiple devices, and lower costs, resulting in both large corporations and SMEs rapidly deploying cloud-based EFSS systems. EFSS technologies have significantly increased corporate and employee productivity in recent years. However, investing in on-premises solutions used to be a significant barrier for enterprises, particularly SMEs, due to the high cost involved.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Competitive landscape of global Enterprise File Synchronization and Sharing market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand their product portfolio.
some leading companies operating in the global Enterprise File Synchronization and Sharing market:
The global market is further segmented into type and application:
By Component Outlook:
By Deployment Mode Outlook:
By Industry Vertical Outlook:
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
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