PUBLISHER: The Business Research Company | PRODUCT CODE: 1436456
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436456
Managed file transfer involves securely and efficiently transferring sensitive, compliance-protected, or high-volume files and data between individuals, partners, and organizations. This process utilizes encryption and compression techniques for file transfers.
In managed file transfer, the main service types are consulting and system integration, support, and maintenance. Consulting and system integration services help organizations streamline, secure, and optimize their file transfer management processes. These solutions include application-centric, people-centric, and ad-hoc deployments, available in cloud and on-premises models for businesses of different sizes across various industries such as IT, telecommunications, BFSI, retail, healthcare, and media.
The managed file transfer market research report is one of a series of new reports from The Business Research Company 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.
The managed file transfer market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth during the historical period can be traced back to concerns about data security, adherence to regulatory requirements, the automation of business processes, globalization, the rise of remote workforces, and the increasing volume of data.
The managed file transfer market size is expected to see strong growth in the next few years. It will grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The anticipated growth in the forecast period stems from vendor competition and innovation, emphasis on business continuity planning, prioritization of automation and efficiency, API integration, and the trend towards cloud migration. Significant trends expected during this period encompass interoperability and integration frameworks, integration with workflow automation, heightened security measures, the adoption of cloud-based solutions, and an increased reliance on managed services and outsourcing.
The managed file transfer (MFT) market is experiencing growth due to the rising frequency of cyberattacks. Cyberattacks involve unauthorized access to computer systems with the intent to steal, expose, alter, disable, or destroy information. The use of MFT services can enhance data security for companies, leading to an increased demand for such solutions. For example, the Internet Crime Report 2021 published by the Federal Bureau of Investigation (FBI), a US-based law enforcement agency, revealed a significant increase in cybercrime complaints. In 2020, the FBI received 791,790 cybercrime complaints, which rose to 847,376 complaints in 2021. This surge in cyberattacks underscores the growing need for robust data protection measures, which is driving the managed file transfer market forward.
The increasing adoption of cloud-based services is expected to drive the growth of the managed file transfer market in the future. Cloud-based services involve the delivery of computing resources such as storage, processing, databases, networking, software, and analytics over the internet (the cloud) on a pay-as-you-go or subscription basis. Managed file transfer solutions are widely used in cloud computing environments to securely and efficiently transfer files between on-premises systems and various cloud platforms. For example, according to Eurostat, a European intergovernmental organization, 42.5% of EU enterprises used cloud computing in 2023, primarily for hosting their e-mail systems and storing files electronically, marking a 4.2% increase from 2021. Therefore, the growing adoption of cloud-based services is a key driver behind the expansion of the managed file transfer market.
The managed file transfer market is witnessing a surge in technological advancement as a key trend. Major players in the market are developing advanced systems such as the Diplomat MFT v9.1, offering additional benefits to their users. For example, in June 2022, Coviant Software, a US-based provider of managed file transfer solutions, launched Diplomat MFT v9.1, an update to its platform with various added advantages such as data replication, file synchronization, and support for simultaneous file transfers to multiple destinations. This solution is particularly beneficial for customers requiring file replication, including site content, for easy distribution to authorized web farms and across data centers.
Key players in the managed file transfer market are concentrating on developing advanced software versions that integrate technologies such as user interface (UI) technology to remain at the forefront of innovation and meet evolving user demands. In the context of managed file transfer software, UI technology encompasses visual elements, design, and interactive components that users engage with while using the file transfer system. For example, in July 2023, Axway Software, a France-based IT company, launched updates to Axway Managed File Transfer (MFT), introducing new features and enhancements. This latest version emphasizes performance, cloud compatibility, user experience, and modernization, ensuring enhanced MFT operations for the future. Notable improvements include enhanced trust and support, the elimination of limitations, and the completion of disaster recovery offerings in Axway Managed Cloud across all cloud providers. The user experience is further enhanced with updated documentation for SFTP usage, container installation, and cloud-to-ground flows. The adoption of modern UI technology involves phasing out outdated and insecure libraries, providing customers with a more intuitive UI. This technological shift enables faster responses to customer feedback, facilitates continuous enhancements in user experience, and streamlines operational processes.
In March 2022, Files.com, a US-based company specializing in managed file transfer automation and platforms, acquired ExaVault for an undisclosed sum. This acquisition positions Files.com to enhance its offerings with improved enterprise-grade file transfer services, encompassing system-to-system, system-to-human, and human-to-system high-volume file automation, and business-critical transfers. ExaVault, based in the US, is a provider of cloud-based file transfer services.
Major companies operating in the managed file transfer market report are Raytheon Technologies Corporation, International Business Machines Corporation, Oracle Corporation, Wipro Limited, OpenText Corporation, Micro Focus International PLC, Software AG, TIBCO Software Inc., QlikTech International AB, Progress Software Corporation, HelpSystems LLC, MOVEit, Axway Software, Limelight Networks, Acronis International GmbH, Ipswitch Inc., Accellion Inc., Globalscape, Kiteworks, Cleo Communications, Signiant Inc., DataMotion Inc., Thru Inc., Jscape LLC, Coviant Software, Biscom Inc., SFTPPlus, Copperfasten Technologies, SmartFile, FileCatalyst
North America was the largest region in the managed file transfer market share in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed file transfer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the managed file transfer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
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.
Managed File Transfer Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on managed file transfer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for managed file transfer ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The managed file transfer market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.