Europe Enterprise File Synchronization Sharing Market to Surpass at a Revenue of US$ 9,729.6 Million By 2031

CHICAGO, UNITED STATES, July 31, 2023/EINPresswire.com/ -- Europe enterprise file synchronization and sharing (EFSS) market revenue was US$ 1,688.3 million in 2022 and is estimated to attain a valuation of US$ 9,729.6 million by 2031, growing at a CAGR of 22.45% during the forecast period from 2023 to 2031.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@-https://www.astuteanalytica.com/request-sample/europe-enterprise-file-synchronization-sharing-market

Enterprise file synchronization and sharing are high in demand in Europe. This is due to the widespread use of mobile devices and collaborative technologies, as well as by countries' tougher laws on data protection. Moreover, many businesses are considering moving their data storage solutions to cloud services to lower their infrastructure expenses.

The creation of cross-platform base systems, which enable the sharing of sensitive data between various platforms like iOS and Android, Windows and Macs, etc., is a major emphasis for many European firms. This calls for solutions that enable team and individual collaboration across many platforms in addition to smooth file synchronization. Europe as a whole is experiencing an increase in demand as a result.

Another reason driving the EFSS market is the rise of mobile devices and the "bring your own device" (BYOD) trend in the business setting. The adoption of BYOD is currently trending in European nations, particularly Ireland, Germany, Austria, and Switzerland. In keeping with the changing nature of the workplace, EFSS systems offer mobile applications that let employees safely access and share files on their smartphones and tablets.

Solution Segment Generate More Than Half of the Revenue Share

The solution segment has emerged as the market leader in Europe Enterprise File Synchronization and Sharing (EFSS) market. The Solution segment dominates the market, capturing a revenue of share of 72.7%. This domination will likely continue in the years to come. This rise is due to the capacity of this market sector to seamlessly provide file synchronization and sharing across several platforms.

In Europe, EFSS solutions are becoming an increasingly important component of the digital workspace as businesses attempt to boost productivity and improve collaboration. They are crucial in enabling safe and timely access to data across numerous devices, which promotes their uptake.

Enterprise File Synchronization and Sharing (EFSS) Majorly Adopt for Security and Compliance Management

In 2022, the security & compliance management application segment accounted for 36.4% of the market. Due to an increase in data theft occurrences in recent years, the requirement for strict security measures and compliance management has considerably increased.

According to a report by the Government of Technology, there were more than 37 billion records compromised overall in 2020, a 141% increase from the year before and a record for a single year of data breach activity. The market will develop owing to the increased reliance on EFSS to ensure secure data transfer and storage.

Large Enterprises are Highly Investing in Enterprise File Synchronization and Sharing

Large enterprises majorly dominate the market with a revenue share of over 60%. Large businesses in Europe are investing more money than ever before in enterprise file synchronization and sharing services.

As per Astute Analytica analysis, the top companies in Europe are investing an average of US$ 1.5 million annually in enterprise file synchronization and sharing technologies. The complexity of corporate operations and the requirement for enterprises to be able to communicate files across many locations and devices are the key causes of this increase. Additionally, increased secure data sharing between government entities is being mandated by governments all over Europe.

Western Europe Generates About 75% of Market Revenue Share

In the Europe Enterprise File Synchronization and Sharing (EFSS) market, Western Europe has consistently maintained a strong position and continued to rule with a sizable 75% share as of 2022. Western Europe, which includes the United Kingdom, makes up a significant portion of this regional market share.

The region's leadership is mostly due to the expansion of digital transformation across many industries and a rise in the importance of remote work, which has spurred demand for effective and secure file synchronization and sharing solutions. According to the most recent statistics from the Cloud Industry Forum (CIF), the UK has one of the highest rates of cloud adoption in the world at 88% overall.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@-https://www.astuteanalytica.com/industry-report/europe-enterprise-file-synchronization-sharing-market

Western Europe will continue to dominate the EFSS market by 2030. The need for EFSS solutions in the region is likely to be driven by the continuous trend of digital transformation, rising usage of cloud services, and the continued requirement for safe and effective data management. In this situation, EFSS providers stand to benefit greatly from development potential by meeting the changing demands of local companies.

Competitive Landscape

Key players are concentrating on product innovation, strategic alliances, and research & development operations in order to maintain competitiveness in the Europe enterprise file synchronization and sharing (EFSS) market. EFSS vendors seek to increase their market share by boosting security features, better user experience, and expanding integration options.

Prominent Players

• Accellion
• Acronis
• Adobe
• Atlassian
• Blackberry
• Box
• Citrix Systems
• CodeLathe Technologies Inc
• CTERA Networks
• DOMA Technologies
• Dropbox
• Egnyte
• Fabasoft
• Google
• GRM Information Management
• IBM Corporation
• Inspire-Tech
• Microsoft Corporation
• Mitratech
• MyWorkDrive
• Nextcloud
• Northbridge Secure Systems
• Opentext
• Oracle Corporation
• OwnCloud
• Qnext
• SAP SE
• SER Group
• SkySync
• SS&C Intralinks
• SugarSync
• Syncplicity by Axway
• Thomson Reuters
• Thru
• Vmware
• Other Players

Segmentation Outline

The Europe enterprise file synchronization and sharing (EFSS) market segmentation focuses on Component, Application, Enterprise Size, End-User, and Region.

By Component
• Solution
o On-Premises
o Cloud
• Services
o Professional
o Managed
By Application
• Document Management
• Data Storage
• Social option
• Security and Compliance management
• Sharing & Collaboration
• Others
By Enterprise Size
• Large/Public
• Small and Medium
By End Users
• BSFI
• Government
• IT&ITES
• Healthcare
• Transportation
• Retail and E-commerce
• Manufacturing
• Media & Entertainment
• Others
By Region
• Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
• Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/europe-enterprise-file-synchronization-sharing-market

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Astute Analytica
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