The Managed File Transfer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Managed File Transfer Global Market Report 2024, 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 in the historic period can be attributed to data security concerns, regulatory compliance, business process automation, globalization and remote workforce, data volume growth.
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 growth in the forecast period can be attributed to vendor competition and innovation, business continuity planning, focus on automation and efficiency, API integration and interoperability, cloud migration trends. Major trends in the forecast period include interoperability and integration frameworks, integration with workflow automation, enhanced security measures, cloud-based solutions adoption, managed services and outsourcing.
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.
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The managed file transfer market covered in this report is segmented –
1) By Service: Consulting and system integration, Support and maintenance
2) By Solution: Application-centric, People-centric, Ad-hoc
3) By Deployment type: Cloud, On-Premises
4) By Organization size: Small and Medium Enterprises (SMEs), Large enterprises
5) By End-user Industry: Information Technology And Telecommunication, Banking, Financial Services and Insurance (BFSI), Retail, Healthcare, Media and Entertainment, Other End-user Industries
Major companies operating in the managed file transfer market are focused on developing advanced versions of software incorporating technologies such as user interface (UI) technology to stay at the forefront of innovation and meet evolving user expectations. User Interface (UI) technology in managed file transfer software refers to the visual elements, design, and interactive components that users interact with while utilizing the file transfer system. For instance, in July 2023, Axway Software, a France-based information technology company, released Axway Managed File Transfer (MFT) updates, bringing forth new features and enhancements. This latest version focuses on performance, cloud support, user experience, and modernization, ensuring elevated MFT operations for the future. Notable improvements include enhanced trust and support, the removal of limitations, and the completion of disaster recovery offerings in Axway Managed Cloud across all cloud providers. The user experience is enriched with updated documentation for SFTP usage, container installation, and cloud-to-ground flows. Implementing contemporary User Interface (UI) technology involves phasing out outdated and insecure libraries and offering customers a more intuitive UI. This technological shift enables quicker responses to customer feedback, fosters continuous improvements in the user experience, and streamlines operational tasks.
The managed file transfer market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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