In January 2021, Citrix Systems, a US-based software company that provides server, application and desktop virtualization, networking, software as a service, and cloud computing technologies acquired Wrike for $2.25 billion in cash. ![]() Acronis’s Cyber Protect Cloud uses blockchain-based data notarization and electronic signatures to enhance its workplace collaboration services with data security on a pay-as-you-go basis. For instance, in August 2021, Acronis International GmbH, a Switzerland-based software company, launched Cyber Protect Cloud for secure file sync and share solutions in an organization. ![]() Major companies operating in the enterprise file synchronization and sharing (EFSS) sector are focusing on blockchain technology to protect EFSS-stored data from ransomware and breaches. Through cryptography, decentralization, and consensus that ensure the safe transaction of data, blockchain proactively stamps out cyber threats and strengthens security infrastructure. Blockchain technology has emerged as a critical tool in the field of data security. The introduction of blockchain technology for data security is shaping the enterprise file synchronization and sharing (EFSS) market. This enterprise file synchronization and sharing (EFSS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The enterprise file synchronization and sharing (EFSS) market research report is one of a series of new reports that provides enterprise file synchronization and sharing (EFSS) market statistics, including enterprise file synchronization and sharing (EFSS) industry global market size, regional shares, competitors with a enterprise file synchronization and sharing (EFSS) market share, detailed enterprise file synchronization and sharing (EFSS) market segments, market trends and opportunities, and any further data you may need to thrive in the enterprise file synchronization and sharing (EFSS) industry. The enterprise file synchronization and sharing (EFSS) market is expected to grow to $25.16 billion in 2027 at a CAGR of 26.4%. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. ![]() The global enterprise file synchronization and sharing (EFSS) market grew from $7.8 billion in 2022 to $9.86 billion in 2023 at a compound annual growth rate (CAGR) of 26.3%. It is implemented in various verticals such as IT and telecom, banking, financial services, and insurance, retail, manufacturing, education, government, and others. The different deployment modes include on-premises, cloud and are used in enterprise content management systems, enterprise storage, and backup, enterprise document collaboration, enterprise mobility, others. ![]() The capability to use the cloud to provide employees with vital files while retaining security controls is known as an enterprise file synchronization and sharing (EFSS) solution. The main components in enterprise file synchronization and sharing are solutions and services.
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