PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1424581
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1424581
The global market for EFSS is projected to grow from USD 9.4 billion in 2023 to USD 35.5 billion by 2028, at a CAGR of 30.4% during the forecast period. User-centric design and focus on providing a seamless and intuitive user experience have become critical factors driving the adoption of EFSS solutions.
Scope of the Report | |
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Years Considered for the Study | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | USD (Billion) |
Segments | By Offering, Business function, Application, Vertical, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
"The solution segment is projected to be the largest market during the forecast period."
EFSS solutions that enable organizations to securely store, synchronize, and share files across multiple devices and with other users. These solutions offer a centralized repository for files, allowing employees to access the latest versions of documents, presentations, and other materials from anywhere, at any time. EFSS solutions play a vital role in modernizing the way organizations manage and share their files and data. By providing secure, scalable, and user-friendly platforms for file storage and collaboration, EFSS solutions contribute to increased efficiency, improved collaboration, and enhanced data security within organizations of all sizes and across various industries.
"The professional service segment is projected to be the largest market during the forecast period."
Professional services providers in the EFSS market help businesses with tasks like solution customization, integration with existing IT infrastructure, user training, and ongoing support. The demand for these services is driven by the complexity of EFSS deployments, the need for seamless integration with existing systems, and the requirement for specialized expertise in implementing and managing EFSS solutions.
"The Sales & Marketing segment is projected to be the largest market during the forecast period."
Sales and marketing play critical roles as key business functions. Sales teams are at the forefront of customer acquisition, employing strategies to identify potential clients, understand their specific requirements, and demonstrate how the EFSS solution can effectively meet those needs. They are responsible for building relationships with prospects, showcasing the features and benefits of the solution, and ultimately closing deals to bring new customers on board. The sales process in the EFSS market often involves intricate negotiations, where sales professionals must align customer expectations with the capabilities of the EFSS solution to ensure a successful partnership.
"North America to account for the largest market size during the forecast period."
North America holds a significant share of the global EFSS market. The region's advanced IT infrastructure, large enterprises, and early adoption of cloud technologies contribute to its prominence in the EFSS space. The market is expected to continue growing as more businesses embrace digital transformation and remote work. The proliferation of mobile devices and the Bring Your Own Device (BYOD) trend has driven the need for EFSS solutions that support secure access to files from anywhere, on any device.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the EFSS market.
Major vendors offering EFSS solutions and services across the globe Box (US), Citrix Systems (US), Dropbox (US), Microsoft (US), Google (US), Thomson Reuters (Canada), IBM (US), Blackberry (Canada), OpenText (Canada), VMware (US), Acronis (Switzerland), Thru (US), Accellion (US), Syncplicity by Axway (US), Egnyte (US), SugarSync (US), Nextcloud (Germany), Northbridge Secure Systems (Australia), ownCloud (Germany), SS&C Intralinks (US), Qnext (US), CTERA Networks (Israel), DryvIQ (US), Inspire-Tech (Singapore), Codelathe (US), and MyWorkDrive (US).
Research Coverage
The market study covers EFSS Market across segments. It aims to estimate the market size and the growth potential across different segments, such as Offering, Business Function, Application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market for EFSS market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.