Major players in the managed file transfer market are IBM Corporation, Axway Software, Ipswitch Inc., Attunity, Kiteworks, Globalscape, OpenText Corporation, Coviant Software, Jscape LLC, Wipro Limited, Oracle Corporation, Software AG, Micro Focus, TIBCO Software, Biscom Inc., and Signiant Inc.
The global managed file transfer market is expected to grow from $1.36 billion in 2022 to $1.50 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. 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 managed file transfer market is expected to reach $2.15 billion in 2027 at a CAGR of 9.4%.
The managed file transfer market includes revenues earned by entities by providing services such as creating, configuring, managing, and monitoring file transfer connections along with detailed reporting and real-time alerts.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Managed file transfer refers to a process to securely and efficiently communicate sensitive, compliance-protected, or high-volume files and data between people, partners, and organisations. It performs file transfers by employing encryption and compression techniques.
North America was the largest region in the managed file transfer market in 2022.Asia Pcific is expected to be the fastest-growing region in the forecast period.
The regions covered in the managed file transfer report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main service types of managed file transfer are consulting and system integration, support, and maintenance.Consulting and system integration refers to consulting services used by organizations to streamline, secure, and optimize their file transfer management processes.
The various solutions include application-centric, people-centric, and ad-hoc that are deployed through various deployment types such as cloud, and on-premises. The various organization size includes small and medium enterprises (SMEs), and large enterprises, that are used in information technology and telecommunication, Banking, Financial Services and Insurance(BFSI), retail, healthcare, media and entertainment and others.
Increased cyberattacks are driving the growth of the managed file transfer market going forward.Cyberattacks refer to unauthorized access to computer systems in order to steal, expose, change, disable, or destroy information.
The use of managed file transfer (MFT) service can aid in offering improved security for the data of the companies, thus increasing the demand.For instance, according to the Internet Crime Report 2021 published by the Federal Bureau of Investigation (FBI) a US-based law enforcement agency, 791,790 cybercrime complaints have been received in 2020 in the US and this has increased to 847,376 cybercrime complaints in 2021.
Therefore the increased cyberattacks are driving the managed file transfer market forward.
Technological advancement is a key trend gaining popularity in the managed file transfer market. Major players operating in the market are developing Diplomat MFT v9.1 managed file transfer system that features additional benefits for their users. For Instance, in June 2022, Coviant Software, a US-based provider of managed file transfer solutions has launched the Diplomat MFT v9.1. It is an update to its platform with various additional benefits such as data replication, file synchronization, and support for simultaneous file transfers to multiple destinations. This solution is therefore useful for customers who need to replicate files, including site content, for distribution to authorized web farms and throughout data centers with ease.
In March 2022, Files.com a US-based managed file transfer automation and platform acquired ExaVault for an undisclosed amount. Through this acquisition Files.com will be able to offer improved enterprise-grade file transfer service including system-to-system, system-to-human, and human-to-system high-volume file automation and business critical transfers. ExaVault is a US-based cloud file transfer services provider.
The countries covered in the managed file transfer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The managed file transfer market research report is one of a series of new reports that provides managed file transfer market statistics, including managed file transfer industry global market size, regional shares, competitors with a managed file transfer market share, detailed managed file transfer market segments, market trends and opportunities, and any further data you may need to thrive in the managed file transfer industry. This managed file transfer 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.