In my organization we are using different version of Microsoft exchange server for last 10 years. Currently are using Microsoft Exchange Server 2013.Below is the features that Microsoft exchange server 2013 offers:-
1.Emails and actions are automatically synced next time connectivity is restored
2.Bring exchange emails and share point document together.
3.Exchnage Administrative Center
4.Built in anti malware protection.
5.Protect Sensitive data
6.We can configure multiple combine roles.
7.Replication
Also exchange server 2013 provides more control and customization then Office 365.Storage requirement can be configurable in exchange server as per organization where as Office 365 comes with 25 GB default.