Overview and Scope
Cloud-managed file transfer (MFT) services refer to cloud-based solutions and platforms that allow organizations to transfer files and data securely and efficiently between different systems, users, or external partners. These services provide businesses with an efficient and secure way to share critical data, such as customer information, financial data, and intellectual property, without complex infrastructure or manual processes.
Sizing and Forecast
The cloud mft (managed file transfer) services market size has grown rapidly in recent years. It will grow from $2.11 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to demand for automation and streamlined workflows, business continuity and disaster recovery, rise in data volume and complexity, data accessibility and availability, integration with hybrid it environments..
The cloud mft (managed file transfer) services market size is expected to see rapid growth in the next few years. It will grow to $4.56 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to cost optimization and reduced overheads, industry-specific compliance requirements, business continuity and disaster recovery, automation and workflow efficiency, rising data volumes and complexity.. Major trends in the forecast period include demand for real-time data transfer, focus on user experience, rise in remote collaboration, integration with advanced technologies..
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Segmentation & Regional Insights
The cloud mft (managed file transfer) services market covered in this report is segmented –
1) By Type: Public, Private, Hybrid
2) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
3) By End Use: Government, Banking Financial Services And Insurance (BFSI), Retail, Manufacturing, Energy Utility, Information Technology (IT) And Telecommunication, Other End Users
North America was the largest region in the cloud-managed file transfer (MFT) services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud mft (managed file transfer) services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing incidents of cyber-attacks are expected to propel the growth of the cloud-managed file transfer (MFT) services market going forward. Cyber-attacks refer to malicious and deliberate actions by individuals or groups intending to compromise, damage, or gain unauthorized access to computer systems, networks, devices, or data. Cloud MFT services mitigate these threats with features like encryption, access control, and security audits to prevent data breaches and unauthorized access. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based government agency, the number of cybercrime reports received in 2021-2022 was 76,000, an increase of nearly 13% from the 2020-2021 financial year. Therefore, the increasing incidents of cyber-attacks are driving the growth of the cloud-managed file transfer (MFT) services market.
Key Industry Players
Major companies operating in the cloud mft (managed file transfer) services market report are Amazon Web Services Inc., The International Business Machines Corporation, Oracle Corporation, Microsoft Azure, Broadcom Inc., Wipro Ltd., Lumen Technologies Inc., CA Technologies Limited, Citrix ShareFile is Citrix Systems Inc., Rackspace Technology Inc., Tibco Software Inc., Software AG, DigitalOcean Holdings Inc., Virtustream, Saison Information System Co. Ltd., Attunity, Open Text Corporation, Axway Software, Accellion Inc., South River Technologies Inc., Biscom Inc., Signiant Inc., Linoma Software, Hightail, Coviant Software LLC, FileCatalyst
The cloud mft (managed file transfer) services market report table of contents includes:
1. Executive Summary
2. Cloud Managed File Transfer (MFT) Services Market Characteristics
3. Cloud Managed File Transfer (MFT) Services Market Trends And Strategies
4. Cloud Managed File Transfer (MFT) Services Market – Macro Economic Scenario
5. Global Cloud Managed File Transfer (MFT) Services Market Size and Growth
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32. Global Cloud Managed File Transfer (MFT) Services Market Competitive Benchmarking
33. Global Cloud Managed File Transfer (MFT) Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Managed File Transfer (MFT) Services Market
35. Cloud Managed File Transfer (MFT) Services Market Future Outlook and Potential Analysis
36. Appendix
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