![]() ![]() Organizations adopt digital workspace for different reasons, including business process improvement (~41%), gaining a competitive edge (~41%), revenue growth (~41%), quick decision-making (~38%), and enhanced employee productivity (~34%). In the same year, up to 45% of organizations had some arrangement for digital workplace programs. As of 2018, about 96% of organizations considered digital workspace important. The primary factor creating demand for EFSS services is the growth of the digital workspace culture. In an EFSS service, these files are stored in on-premise or cloud servers. Organizations can use an enterprise-file-synchronization-and-sharing (EFSS) service to synchronize and share files, documents, videos, and photos with their employees and customers using multiple devices. Further, the market generated a revenue of ~ USD 6 billion in the year 2021. The global enterprise-file-synchronization-and-sharing market (EFSS market) is estimated to garner a revenue of ~ USD 33 billion by the end of 2031 by growing at a CAGR of ~27% over the forecast period, i.e., 2022 – 2031. Global Enterprise-File-Synchronization-And-Sharing Market Size, Forecast, and Trend Highlights Over 2022 - 2031 Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Purchasing power in the country is expected to fell nearly by 2.5%. economy is expected to grow merely by 3% in 2022. In 2022 & 2023, market players expected to sail in rough waters might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. ![]() Inflation and Looming Recession to Haunt Businesses: ![]()
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