Technavio market research analysts forecast the global enterprise file sync and share (EFSS) market to grow at a CAGR of more than 14% during the period 2018-2022, according to their latest report.
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Technavio has published a new market research report on the global enterprise file sync and share market from 2018-2022. (Graphic: Business Wire)
This market research report segments the global enterprise file sync and share market based on deployment model (cloud and on-premises) and geography (the Americas, APAC, and EMEA). The report includes a detailed analysis of the top growth factors and trends and also consists of the challenges expected to impede growth.
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In this report, Technavio analysts highlight the IT software consumerization across verticals as a key factor contributing to the growth of the global enterprise file sync and share market:
IT software consumerization across verticals
The world is observing an age of software consumerization. Consumerization is the merger of technology originating from the end-users for use in enterprises. It permits enterprises to leverage and use new technology, which has its origins from consumers rather than businesses. Businesses are adopting consumerization because of technological advances and the implementation of employee-centricity across verticals. The modern workforce has a different set of requirements to deliver productivity. With the proliferation of technology, people want offices to be attuned to their needs.
Also, there has been an increase in the adoption of BYOD across verticals. Therefore, there are integration and security challenges for enterprise IT departments. As the line between corporate and personal IT systems continues to blur, IT departments are facing the challenge of managing technology that they did not obtain or facilitate. Consumerization has led to the generation of diverse enterprise information and an increase in different types of devices and systems that are collaborated in enterprises. There is a growing need for efficient collaborative methodologies in industries.
According to a senior analyst at Technavio forenterprise application, "An EFSS supports the effective management of consumerization by allowing businesses to secure the EFSS process between a diverse range of devices. EFSS improves productivity in the modern workplace by encouraging employees to deal with cross-device file sharing and collaboration. With consumerization expected to project significant growth during the forecast period, the implementation of EFSS across verticals is expected to increase."
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Global growth opportunities
In 2017, the Americas dominated the market, contributing close to 41% share. This was because of the market's maturity and the growth of industries and the private sector in the region. The high concentration of key EFSS vendors, early adoption of modern technologies in industries, and the undergoing intensive data generation across verticals also contributed to the growth of the market in the region.
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