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EFSS Solutions Revolutionizing Secure Collaboration Across Industries, Market to Grow Rapidly by 2032

According to the latest market research study published by P&S Intelligence, the enterprise file synchronization and sharing (EFSS) market is poised for significant growth, with projected revenues escalating from $14.0 billion in 2024 to $113.0 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 29.7% during the forecast period.

This expansion is primarily driven by the escalating need for secure data management solutions, as organizations increasingly prioritize data privacy and protection against breaches.

EFSS platforms offer enhanced security features, including access controls, encryption, and audit trails, addressing these critical concerns.

Additionally, the growing adoption of cloud-based EFSS solutions contributes to market growth, owing to their cost-effectiveness, scalability, and seamless integration capabilities.

Key Insights

Segmentation Analysis:

Offering:

      • The EFSS market is segmented into software and services.
      • The software segment includes standalone EFSS applications and integrated solutions, while services encompass consulting, integration, and maintenance.

Application:

      • Key applications of EFSS include file storage and backup, content management, mobile access and productivity, document collaboration, and analytics and reporting.
      • Among these, document collaboration holds the largest share, facilitating real-time editing and sharing of files among teams.

Business Function:

      • EFSS solutions cater to various business functions such as human resources, sales and marketing, legal, finance and accounting, and IT.
      • The IT function extensively utilizes EFSS for secure data sharing and management across the organization.

Vertical:

      • Industries adopting EFSS include BFSI, healthcare, legal services, education, IT and ITeS, media and entertainment, government and public sector, and retail and e-commerce.
      • The BFSI sector significantly benefits from EFSS solutions to ensure compliance and secure handling of sensitive financial data.

Regional and Geographical Trends:

    • North America currently leads the EFSS market, attributed to early technology adoption and stringent data security regulations.
    • The Asia-Pacific region is anticipated to experience the fastest growth, driven by increasing digitalization, a surge in remote work practices, and the expansion of small and medium-sized enterprises seeking cost-effective and scalable data management solutions.

Technological Advancements Shaping the Market:

    • The integration of EFSS platforms with enterprise applications such as Slack, Microsoft Teams, and project management software is enhancing workflow efficiency and user experience.
    • Advancements in cloud technology have led to the development of more robust and scalable EFSS solutions, supporting real-time collaboration and seamless access to data across various devices and locations.

Competitive Dynamics, Major Players, and Emerging Opportunities:

    • The EFSS market is characterized by fragmentation, with numerous players offering diverse solutions.
    • Key market participants are focusing on innovation, strategic partnerships, and acquisitions to enhance their product offerings and expand their market presence.
    • Emerging opportunities in the market include the development of industry-specific EFSS solutions tailored to unique regulatory and operational requirements, as well as the incorporation of artificial intelligence and machine learning to enhance security and user experience.

In conclusion, the EFSS market is on a trajectory of substantial growth, driven by the increasing demand for secure, efficient, and integrated data management solutions across various industries and regions.

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

Contact:
Chandra Mohan
AVP – Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
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Western U.S. Leads the Charge in Corporate Communications Innovation

U.S. Corporate Communications Market

The U.S. corporate communications market is forecasted to reach $2,204.2 million by 2024, with a strong CAGR of 14.0%, driving its value to $4,838.1 million by 2030. This remarkable growth underscores the growing reliance on strategic communication to enhance stakeholder engagement and achieve business success.

Corporate communication agencies provide essential services, including media relations, content creation, and crisis management, which are becoming integral to organizational strategies. Additionally, the adoption of advanced technologies like artificial intelligence (AI), virtual communication platforms, and data analytics is reshaping the industry, empowering companies to safeguard their brand image and address challenges effectively.

Key Insights

Segmentation Analysis
The market is segmented into internal, external, and unified communication categories:

  • Internal Communication: Aims to boost transparency and collaboration among employees.
  • External Communication: Focuses on managing public perception, media relations, and brand reputation.
  • Unified Communication: Integrates multiple platforms to streamline operations and enhance efficiency, gaining significant popularity.

The IT and telecom industry emerges as the largest application area, driven by its need for robust communication strategies to handle complex stakeholder interactions and stay competitive.

Regional Trends

The Western U.S. dominates the market due to its high density of tech firms and startups prioritizing cutting-edge communication tools. It is also the fastest-growing region, reflecting an increased demand for innovative and dynamic solutions.

Technological Advancements

Emerging technologies like AI and machine learning (ML) are revolutionizing corporate communication. Tools like generative AI (e.g., ChatGPT) create personalized content and analyze consumer behavior, while chatbots and conversational AI ensure timely and accurate interactions. Moreover, companies are exploring virtual reality (VR) to design immersive brand experiences that boost engagement.

Competitive Dynamics

The market comprises a wide range of players offering customized communication solutions. Leading firms are leveraging strategic partnerships and technological advancements to expand their market share. Digital transformation is a key focus, enabling businesses to remain competitive in a rapidly evolving environment.

Overall, the U.S. corporate communications market has become a cornerstone for businesses aiming to connect effectively with stakeholders, presenting vast growth opportunities through innovation and the adoption of advanced technologies.

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Al-Riyadh Leads Saudi Data Center Networking Growth

Saudi Arabia Data Centre Networking Market

The Saudi Arabian data center networking market is projected to grow significantly, reaching an estimated value of USD 401.1 million in 2024 and forecasted to touch USD 958.8 million by 2030, advancing at a CAGR of 15.6%. This growth is attributed to the rising rate of digitalization, increased adoption of cloud services, and stricter data security requirements.

Saudi Vision 2030 is a key driver, as the Kingdom intensifies its digital transformation to diversify its economy. This initiative encourages businesses to leverage advanced technologies, such as artificial intelligence, machine learning, and data analytics across industries.

The growing digitalization in Saudi Arabia has led to higher demand for sophisticated data center networking infrastructure, ensuring seamless connectivity, high-speed data transfer, and integration for digital services and applications.

A major trend shaping the market is the growing adoption of edge computing technologies, which offer reduced latency, enhanced security, scalability, and improved privacy. This shift is driven by the surge in IoT devices, the implementation of 5G networks, and increasing concerns over data security. Additionally, the need for real-time data analysis and optimized network performance is accelerating this transformation.

The rapid pace of digital transformation is pushing companies to replace traditional on-premises systems with cloud-based infrastructures. This transition is driving demand for advanced networking solutions capable of supporting cloud environments. Furthermore, the increase in IoT-generated data is amplifying the need for robust networking systems to manage and process large data volumes effectively.

Key Insights:

  • Hardware Dominance: Hardware components like servers, routers, switches, and storage devices lead the market with a 45% share, given their critical role in data center operations.
  • Software Growth: Software solutions are essential for network management, virtualization, and security, holding a significant market share.
  • Services Expansion: Integration, consulting, and operational support services are witnessing the fastest growth due to the operational needs of digital storage facilities.
  • IT and Telecom Influence: Accounting for 35% of the market, the IT and telecom sector is expanding due to increasing smartphone usage, higher internet penetration, and cloud adoption.
  • Regional Leadership: Al-Riyadh dominates the market with a 40% share, backed by significant investments and the presence of the highest number of data centers in the region.

Key market players include Hewlett Packard Enterprise, Cisco Systems, Dell, Huawei, IBM, and Intel. These companies have vast expertise in designing innovative hardware and software solutions for data centers. Notably, in March 2024, Zoho Corp. launched data centers in Saudi Arabia to ensure local data sovereignty.

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Analytics Solutions Drive Expansion in the U.S. EDSP Market

U.S. and Southeast Asia Enterprise Data Service Platform (EDSP) Market

The U.S. enterprise data strategy and planning (EDSP) market reached a valuation of approximately USD 20,137.5 million in 2023 and is projected to grow at a CAGR of 8.4%, reaching USD 35,053.4 million by 2030. Similarly, the EDSP market in Southeast Asia was valued at USD 1,778.5 million in 2023 and is expected to grow at a CAGR of 12.3%, reaching USD 3,955.8 million by the end of the decade.

In the U.S., the solutions category accounted for a dominant market share of 76.5%. These software solutions establish standardized workflows, offering benefits such as reduced operational costs and fostering a data-driven culture. Among the solutions, analytics tools are gaining traction as they can process diverse data formats—structured, semi-structured, and unstructured—transforming them into actionable insights for visualization and analysis.

Regarding deployment modes, the on-premises segment generates higher revenue due to its advanced security features, making it particularly attractive for large financial institutions and enterprises.

In Southeast Asia, the BFSI sector led with a 16.9% market share, driven by its adoption of data-driven strategies to address challenges like customer retention, fraud detection, and application screening. The retail and consumer goods segment is expected to grow the fastest, leveraging analytics tools to manage scattered data from multiple sales channels. These tools help retailers analyze customer interactions throughout the purchase journey, providing actionable insights.

Artificial intelligence plays a pivotal role in enhancing data transformation, modeling, and storage by improving efficiency and insight generation. Machine learning and IT tools further support automated data processing, enabling natural language interactions, intelligent exploration, and advanced analytics. AI-powered tools also streamline data integration, cleansing, and transformation, reducing manual effort and ensuring data quality.

The increasing generation of data from various sources continues to drive the demand for EDSP solutions across the U.S. and Southeast Asia. This trend is set to persist, fueled by advancements in AI and analytics technologies.

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Product Engineering Services Industry Growth and Forecast Report, 2030

Product Engineering Services Market

The product engineering services market, valued at USD 1,194.9 million in 2024, is projected to reach USD 1,840.8 million by 2030, growing at a CAGR of 7.5% during 2024–2030. This growth is fueled by the increasing demand for smart homes, advancements in technology, and reduced manufacturing costs.

Product engineering focuses on determining how specific items, such as software, devices, systems, or assemblies, are developed, manufactured, and tested. Key components include new product development, design and development, prototyping and testing, and maintenance services. Today, these services are essential for enhancing client experiences and staying competitive.

The customer enterprise product (CE-PC) category dominates the market due to its foundational approach of analyzing customer needs. Product engineers collaborate with enterprise stakeholders to identify issues, workflows, and business processes. After conceptualizing the product, engineers create detailed physical designs that specify architecture, capabilities, attributes, and user interfaces. Prototyping ensures designs align with client expectations, while software development processes like coding, testing, and integration follow industry best practices.

The customer mobile product category is anticipated to grow significantly due to the increasing focus on mobile devices like smartphones and tablets. Engineering services for mobile products encompass software development, coding, and optimization to meet user demands.

Large enterprises, valued at USD 0.7 billion in 2023, drive market growth due to their ability to innovate rapidly and operate cost-efficiently. Meanwhile, SMEs are expected to experience increased revenue growth by targeting niche markets with customized product engineering solutions.

Regionally, the APAC market is expected to expand at a CAGR of 9% during 2024–2030, driven by robust investments in tech infrastructure and a growing need for innovative products and services.

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

Contact:
Chandra Mohan
AVP – Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter

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Zero-Trust Architecture Market Set for Robust Growth by 2030

Zero Trust Architecture Market

The zero-trust architecture market was valued at USD 17.0 billion in 2023 and is anticipated to grow at a CAGR of 18.5% from 2024 to 2030, reaching USD 55.0 billion by the end of the decade.

This market growth is attributed to factors such as the increasing frequency of cyberattacks, the rising adoption of Bring Your Own Device (BYOD) and Choose Your Own Device (CYOD) policies, expanding use of cloud services, growing digital awareness, the shift towards remote work, and compliance with stringent data protection regulations.

Zero-trust architecture (ZTA) is gaining widespread adoption as businesses across industries face an evolving cyber threat landscape. Traditional security models, which assumed all internal activity was safe, are proving inadequate. Ransomware, data breaches, and other attacks exploit these outdated approaches, with global organizations facing approximately 1,100 attacks weekly.

The COVID-19 pandemic accelerated the need for robust security measures due to the proliferation of remote workforces and mobile devices. Remote employees connecting from various locations and devices introduce new risks that traditional security protocols cannot mitigate effectively. As a result, enterprises are increasingly turning to zero-trust models to secure their distributed workforce.

Key Insights:

  • Retail and E-commerce: Expected to grow at a CAGR of 20% due to changing consumer behavior, technological advancements, and increased reliance on digital platforms.
  • Zero-Trust Necessity: Essential for protecting businesses as they adopt mobile commerce, cloud computing, IoT, and adhere to regulations like PCI DSS and GDPR.
  • Omnichannel Strategies: Vital for providing seamless customer experiences across digital and physical platforms.
  • AI and Analytics: Enable personalized customer engagement, fostering brand loyalty in a competitive market.
  • Cybersecurity Demands: Large-scale data collection requires robust security and compliance to maintain customer trust.
  • Large Enterprises: Estimated to generate USD 10 billion by 2030, driven by complex security needs and real-time authentication processes.
  • SMEs: Set to grow at a CAGR of 19%, leveraging zero-trust solutions to combat sophisticated cyber threats without incurring high costs.
  • North America: The largest market in 2023 with USD 8 billion in revenue, propelled by leading players like Palo Alto Networks, Zscaler, and Cisco, alongside advancements in cloud computing, IoT, and AI.
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Future of Cloud-Based Data Management: Industry Insights and Regional Highlights

Cloud-Based Data Management Services Market

The cloud-based data management services market reached a value of USD 40.7 billion in 2023 and is projected to grow to USD 258.4 billion by 2030, with a robust CAGR of 30.4%. This growth is driven by the widespread adoption of cloud-based services, which enable individuals and organizations to store, manage, and analyze vast data volumes via the internet.

These services encompass data integration, management, warehousing, artificial intelligence (AI), and machine learning (ML), offering secure and flexible access to computing resources from any location. They minimize maintenance and capital costs while ensuring dynamic solutions tailored to the evolving needs of various sectors.

The demand for enhanced data security and regulatory compliance, such as adherence to GDPR, also propels market growth, as businesses recognize the role of cloud solutions in safeguarding sensitive information. Furthermore, the increasing need for data integration and on-demand analytics services, along with ongoing digital transformation in sectors like BFSI and healthcare, contributes significantly to industry expansion.

Key Insights:

  • SaaS Dominance: With a 55% market share, Software-as-a-Service (SaaS) is the leading segment, offering unparalleled benefits for enterprises.
  • QaaS Growth: Quality-as-a-Service (QaaS) is anticipated to grow at a 35% CAGR during this decade, delivering functional, performance, and security testing to businesses.
  • Healthcare Innovations: The healthcare and life sciences segment is expected to expand at a 35% CAGR, leveraging cloud solutions for storing and accessing patient data, therapy plans, and clinical advancements.
  • IT & Telecom Adoption: The IT & telecom sector accounts for 25% of the market, driven by cloud solutions that simplify data storage, sharing, and reduce hardware requirements.
  • Regional Insights: North America led the market in 2023 with a 45% share, supported by advanced infrastructure, strong economic growth, and diverse sectoral contributions.

The cloud-based data management market remains fiercely competitive, with key players and niche innovators driving growth through technological advancements.

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Data Center Market Growth Projections Highlight Carbon-Neutral Goals by 2030

Data Center Market

The global data center market is on a growth trajectory, projected to reach USD 622.4 billion by 2030. A key trend in the industry is the push toward carbon-neutral data centers by the decade’s end, with companies implementing strategies to meet this objective.

According to the IEA, the U.K. aims to reduce greenhouse gas (GHG) emissions by 68% from 1990 levels by 2030 and achieve net-zero carbon emissions by 2050. Similarly, the Dutch government has introduced laws such as the Climate Act and the National Climate Agreement to curb emissions. The Energy Conversion Act mandates a 16% CO2 reduction by 2030, with a 95% reduction goal by 2050. The U.S. government also has set its sights on reducing emissions by 50-52% by 2030.

Data centers serve as hubs for large-scale data processing and decision-making, enabling businesses to leverage data-driven insights and improve services, customer relations, and revenue generation. To manage the surging data volumes, companies are investing in high-performance data infrastructure.

Regional Outlook

  • IT Infrastructure Growth: Server, storage, and networking components form the backbone of this sector, anticipated to grow at a CAGR of over 11.6%.
  • Efficiency & Privacy Focus: Data storage efficiency and privacy concerns are central to IT infrastructure advancements.
  • Industry Insights: The IT & telecom sector held over 40% of the market share in 2023 due to increased software deployment and startup activities, with a rising demand driven by mobile internet users.
  • Emerging Technologies: IoT and 5G technologies are driving data growth, particularly in IT & telecom.
  • Healthcare Sector Expansion: The healthcare sector is set to grow at a 10.4% CAGR, underscoring the rising need for data storage in medical contexts.
  • Regional Leaders: North America, with 40% of the market share, and Europe, spurred by AI, 5G, VR, IoT, and cloud computing, are seeing significant data center investments. The COVID-19 pandemic accelerated data center investments worldwide, leading to nearly 8,000 centers globally in 2021, with a third in the U.S.
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AI in Agriculture: Market Dynamics, Growth Projections, and Regional Performance Through 2030

AI in Agriculture Market

The AI in agriculture market, valued at USD 1,643.7 million in 2023, is expected to surge to USD 7,854.1 million by 2030, growing at a CAGR of 25.1%. The adoption of IoT and cloud computing is a key driver of AI demand in agriculture, enabling farmers to manage large amounts of data for better decision-making. IoT sensors are widely used for monitoring factors like crop yields, rainfall, pest levels, and soil nutrition, helping farmers optimize productivity.

The need for advanced agricultural technology is growing worldwide, driven by population increases and the need to improve crop yields. Robotics is also playing a bigger role in agriculture, allowing for more sophisticated and sustainable farming methods. Robotics companies are developing AI-equipped products for dynamic farm environments, helping stakeholders increase output while reducing carbon footprints.

Market Insights North America dominated the AI in agriculture market in 2023, capturing 45% of the market due to strong adoption of advanced technologies for productivity gains. The U.S. is projected to grow at a CAGR of over 25.5% this decade, while APAC is expected to grow the fastest, at 25.9%, due to increased adoption of precision farming, agronomic robots, and drone analytics.

The service sector is projected to grow at a CAGR of 25.3%, driven by demand for managed services that help farmers monitor sensor activities and manage crop health data. Machine learning (ML) led the industry in 2023 with nearly 50% market share, thanks to its widespread adoption in crop and field management. Precision farming held a 40% share in 2023, supported by demand for optimized yield and reduced production costs. Drone analytics is expected to grow the fastest, at over 25.7%, driven by increased investment in drone technology to support quality food production for a rising population.

The AI in agriculture market is highly competitive, with numerous international players vying for market share.

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Video Surveillance Market Set to Hit USD 99.7 Billion by 2030 Amid Rising Security Demands

Video Surveillance Market

The global video surveillance market is expected to reach USD 58.5 billion in revenue in 2024 and grow at a CAGR of 9.3%, reaching USD 99.7 billion by 2030. This growth is attributed to rising security needs in public and private sectors, covering spaces like airports, residential areas, commercial buildings, and schools.

The push for smart cities is also fueling demand for advanced surveillance systems capable of monitoring diverse activities. The integration of AI and deep learning in video analytics is further improving safety by enhancing surveillance efficiency for individuals and property.

Demand for IP-based surveillance systems is on the rise due to advancements in data processing, compression technologies, and affordability. Cutting-edge technologies like computer vision, artificial intelligence, and anomaly detection are increasingly embedded in modern systems to identify unusual behavior patterns.

With IP-based systems becoming more accessible, analog surveillance solutions are being phased out. This shift is driven by enhanced security capabilities, expanded network infrastructure, and cost reductions in specialized surveillance equipment, making IP-based solutions more cost-effective. Moreover, the rise of 360° recording technology allows the replacement of multiple PTZ cameras with a single unit, increasing both efficiency and affordability.

Key Highlights:

  • Hardware holds the largest market share (50%) in 2024, primarily driven by demand for cameras, storage, and displays.
  • IP Cameras improve surveillance with low-light performance, object tracking, and integrated security features.
  • VSaaS (Video Surveillance as a Service) grows at a CAGR of 9.6%, offering remote viewing, recording, and cybersecurity benefits.
  • The commercial sector commands 40% of the market, driven by security needs in retail, corporate, and financial spaces.
  • The industrial sector is expected to see the highest CAGR of 9.8% as facilities focus on protection against theft, vandalism, and accidents.
  • APAC is the fastest-growing region (CAGR 9.7%), fueled by urbanization and infrastructure expansion.
  • China leads APAC in market share, primarily using surveillance tech in public spaces and major projects.
  • North America holds a prominent market position due to widespread adoption across residential, commercial, and industrial segments, with the U.S. seeing robust growth driven by infrastructure investment and public safety needs.
  • MEA (Middle East & Africa) is showing growth potential with increased adoption of mobile surveillance solutions, especially in Saudi Arabia and the U.A.E. as they enhance security compliance and infrastructure.
  • VSaaS adoption is boosting scalability and flexibility for global surveillance solutions.
  • Advances in hardware technology are enabling high-resolution, more effective surveillance capabilities worldwide.