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NEWARK, Del, May 05, 2023 (GLOBE NEWSWIRE) — According to Future Market Insights, the global managed file transfer market is slated to expand at a CAGR of 10.1% from 2023 to 2033, with an expected valuation of US$ 5.3 Billion. As of 2023, the market is likely to be valued at US$ 2 Billion.
Increasing cloud adoption for safely transferring and sharing multiple kinds of data is projected to drive demand for managed file transfer in forthcoming years. The market is anticipated to expand significantly owing to factors such as increasing demand for dependable and cost-effective managed file transfer solutions, increased digitization of the workspace, rising demand for high-performance managed file transfer solutions, and rising accessibility to cost-effective managed file transfer software, as well as technological developments.
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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.
- 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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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.
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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.
- System-centric File Transfer
- People-centric File Transfer
- Extreme File Transfer
- Implementation & Integration
- Support & Maintenance
- Media & Entertainment
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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Table of Content (ToC):
1. Executive Summary | Managed File Transfer (MFT) Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast (TOC Continue…)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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