The global managed file transfer market is anticipated to grow at a CAGR of 10.1% from 2023 to 2033, with an estimated worth of US$ 5.3 billion, according to Future Market Insights. The market is anticipated to be worth $2 billion by 2023.
Demand for managed file transfer is anticipated to rise in the future years as more people use the cloud for securely exchanging and sharing various types of data. Due to factors like rising demand for dependable and affordable managed file transfer solutions, increased digitization of the workspace, rising demand for high-performance managed file transfer solutions, rising accessibility to affordable managed file transfer software, as well as technological advancements, the market is predicted to grow significantly.
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Consistent progress in the creation and deployment of new technologies including managed file transfer as-a-service (MFTaaS) solutions and cloud computing systems for autonomous encryption of information prior to its transfer, promising safety, centralization, and flexibility, among others, is generating opportunities for managed file transfer solution spending advancement.
The primary factors promoting a growing proportion of managed file transfer companies providing novel solutions for business continuity are benefits such as higher company productivity, robust information movement, and reduced expenses. The incorporation of various technologies including IoT, Big Data, Artificial Intelligence, and others is anticipated to contribute to the expansion of the managed file transfer marketplace with substantially improved capacities and effectiveness.
Key Takeaways:
- The managed file transfer market is expected to grow at an 8% CAGR from 2018 to 2022
- In 2022, the United States accounted for roughly 26.5% of the global managed file transfer (MFT) market.
- The German market is expected to grow at a CAGR of 6.7% over the forecast time frame.
- The MFT market in China is expected to grow at a CAGR of 11.7% during the forecast period.
- By the end of 2022, the managed file transfer software segment took over the market in terms of value, capturing nearly 75.9% of the total market value share.
“The integration of technologies such as IoT, Big Data, AI, and others is expected to contribute to the growth of the managed file transfer marketplace with significantly greater capabilities and efficiency,” Says a FMI analyst.
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Competitive Landscape:
The major players in the managed file transfer solution sector employ new product introduction as a key tactic. They aim to boost their business revenue by doing so. To expand their market share, managed file transfer solution suppliers are focusing on product/service innovation.
- To satisfy developing safety of data demands, Software AG, for instance, introduced Adabas Auditing for z/OS in 2021. The latest release extends monitoring features that previously only focused on modifications to data to take in any data access, such as determining who read what data and when. It was created in partnership with Beta Systems.
- In February 2021, Oracle Corporation introduced an additional benefit to its managed file transfer cloud service, OCI Storage Cloud Service, an exclusive source and target category that can be employed for transferring data across the Oracle Cloud Infrastructure.
- In June 2022, Coviant Software, the supplier of secure managed file transfer (MFT) technology, has unveiled Diplomat MFT v9.1, a version upgrade featuring file synchronization, replicating information, and support for several concurrent transmissions of files.
Key Companies Profiled in MFT Market are Axway Inc., GlobalSCAPE Inc., IBM Corporation, Micro Focus, Software AG, Oracle Corporation, Wipro Limited, Signiant Inc., OpenText Corporation, CA Technologies Inc. and others.
More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the global managed file transfer (MFT) market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033. According to the study, the global managed file transfer (MFT) market has experienced significant growth, as indicated by the below market segmentations.
By Solution:
- Software
- System-centric File Transfer
- People-centric File Transfer
- Extreme File Transfer
- Services
- Implementation & Integration
- Consulting
- Support & Maintenance
By Industry:
- BFSI
- Media & Entertainment
- Retail
- Manufacturing
- Telecommunication
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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