The Asia Pacific Enterprise File Synchronization and Sharing (EFSS) Market would witness market growth of 28.8% CAGR during the forecast period (2021-2027).
Enterprises are actively exploring more comprehensive technologies than the cloud to meet the growing demand for content and information security. Theft, sophisticated assaults against the application provider, and the inability to manage data flowing to and from applications are all examples of cloud security flaws. To address these issues, businesses are offering innovative solutions. For example, shayre, a data-sharing solutions provider, announced the launch of its direct point-to-point and point-to-multipoint software for file transferring and synchronization aimed at enterprise enterprises in May 2020. The software runs in the background after installation, leaving virtually no trace on the operating system. The EFSS market is likely to grow as more businesses focus on digital transformation, which is a strategy for increasing internal productivity by using new technologies and eliminating paper-based processes.
When compared to traditional data sharing methods, EFSS solutions provide several operational benefits. Improved document security and confidentiality, increased flexibility and scalability, faster core back-end procedures, real-time access and elimination of travel and other expenses, and safe and secure file sharing and storage are among the key benefits of EFSS. To speed up corporate processes, EFSS is commonly utilized in cloud virtualization. In addition, Enterprise storage and backup, workplace enterprise mobility, content management systems, enterprise mobility, and enterprise document collaboration are just a few of the areas where it can be used.
The regional market is witnessing increasing economies and significant tech-dominated nations like China, India, Japan, South Korea, and Singapore. In addition, China is a major market for electronics and consumer electronics, as well as a semiconductor production center. According to the National Bureau of Statistics of China, the country's revenue from consumer electronics was CNY 80.52 billion in February 2020. The introduction of Big Data solutions has resulted in the generation of data in the sector.
Furthermore, major foreign tech companies in China either have a smaller user base or are blocked by government-run firewalls. Dropbox, for example, is blocked in China and cannot be accessed using the country's local internet. Local IT companies, such as Nutstore and Nihao Cloud, are, nonetheless, selling their goods in the country.
India, which is one of the world's largest and fastest-growing economies, is also a major player in the region. One of the greatest markets for smart gadgets is in the country. In 2019, the country imported electrical products worth INR 3881.5 billion, according to the Department of Commerce. Microsoft, Citrix, Dropbox, Google, and IBM are among the major providers with considerable presence in the country.
The China market dominated the Asia Pacific Enterprise File Synchronization and Sharing (EFSS) Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,165.5 million by 2027. The Japan market is experiencing CAGR of 28.1% during (2021 - 2027). Additionally, The India market would showcase a CAGR of 29.6% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Standalone and Integrated. Based on Services Type, the market is segmented into Professional Services and Managed. Based on Organization Type, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises (SMEs). Based on Deployment Mode, the market is segmented into Cloud and On-premise. Based on Vertical, the market is segmented into BFSI, Software & Technology, Government & Public Sector, Healthcare, Education & Legal, Retail and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Enterprise File Synchronization and Sharing (EFSS) Market is Projected to reach USD 5.4 Billion by 2027, at a CAGR of 26.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Box, Inc., Microsoft Corporation, VMware, Inc., Google LLC, OpenText Corporation, Thomson Reuters Corporation, Dropbox, Inc., Citrix Systems, Inc., and BlackBerry Limited.
By Component
By Solution Type
By Services Type
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By Deployment Mode
By Vertical
By Country
Companies Profiled
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