The global managed file transfer (MFT) market is estimated to be valued at USD 2 billion in 2023. The market is projected to reach USD 5.3 billion by 2033, exhibiting a CAGR of 10.1% from 2023 to 2033.
Increasing cloud adoption for securely transferring and sharing multiple types of data is expected to drive demand for managed file transfer in the coming years.
The industry is anticipated to expand significantly as a result of factors such as increasing demand for dependable and cost-effective managed file transfer solutions, growing digitization of the workspace, expanding demand for high-performance managed file transfer solutions, and escalating accessibility to cost-effective managed file transfer software, as well as innovations in technology.
In today's world, information is regarded as the most valuable asset, and the transfer and exchange of data from B2B or privately stored have become essential. Although, with the support of managed file transfer applications, a company may transfer files or any data in an efficient and safe way. There are no restrictions on file size, value, or type.
When contrasted to the conventional approach of file transfer, managed file transfer is favored by the company and serves a significant part in data transfer with a spike in information traffic and exposure to hacking or malware, managed file transfer software substantially decreases the danger.
| Attributes | Details |
|---|---|
| Managed File Transfer (MFT) Market Value (2022) | USD 1.8 billion |
| Managed File Transfer (MFT) Market Value (2023) | USD 2 billion |
| Managed File Transfer (MFT) Market Expected Value (2033) | USD 5.3 billion |
| Managed File Transfer (MFT) Market Projected CAGR (2023 to 2033) | 10.1% |
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Managed file transfer market was estimated to grow at a CAGR of 8% over the historical period ranging from 2018 to 2022. Managed file transfer has drawn enormous interest in recent years owing to the emergence of cloud-based managed file transfer solutions.
The BFSI, telecommunications, and other sectors have shown an elevated need for managed file transfer applications and services for managing regular workflow. This is projected to lead to revenue generation in the market over the forecast time frame.
Consistent advancement and deployment of new technologies including managed file transfer as-a-service (MFTaaS) solutions and cloud computing systems for autonomously encrypting data before the transfer, guaranteeing safety, and centralization and flexibility, among others, is creating prospects for managed file transfer solution spending expansion.
The main variables promoting a growing number of managed file transfer companies offering novel solutions for company continuity are benefits such as enhanced company productivity, robust information movement, and lower costs.
The incorporation of technologies such as IoT, Big Data, Artificial Intelligence, and others is projected to contribute to the expansion of the managed file transfer market with significantly increased capacities and functionality.
Principal Consultant
With the prevalence of automation patterns, it has become more crucial for sectors to seek approaches that can provide facilities that lower infrastructure expenses.
Cloud-based solutions provide improved efficiency and predicted quality of service to meet expanding demands, including high reliability, mixed management of workloads, near real-time information loads, and complicated query processing. As a result, businesses are turning to the cloud-based model of managed file transfer solutions as a superior choice for swiftly growing file-sharing services throughout the business environment.
Some of the factors impeding the development of the Managed File Transfer Software Market include the sheer number of firms in the market, which leads to intense rivalry in the market, as well as the accessibility of substitutes including share services and file sync.
Other variables impeding market growth include a lack of understanding and reliance on conventional technologies. The Managed File Transfer Software Market experienced decreases in growth during the recent COVID-19 outbreak. Although the marketplace is projected to recover and grow following the pandemic.
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Due to the region's substantial number of MFT providers, North America will be the most significant market for managed file transfer. The growth is owing to an increase in demand for managed file transfer across a variety of industries, including BFSI, media & entertainment, retail, manufacturing, telecommunications, and others. According to the report, overall spending on managed file transfer solutions in the United States is expected to rise by 8.2% between 2023 to 2033.
The United States accounted for approximately 26.5% of the global managed file transfer market in 2022. The increased adoption of cloud computing applications in industries has fueled growth in the North American market for MFT solutions.
The adoption of managed file transfer software by German government organizations is encouraging MFT solution providers to introduce solutions designed specifically to meet the needs of government departments in the region. Over the forecast period, the German market is expected to grow at a CAGR of 6.7%.
The implementation of GDPR-based requirements across different entities is expected to benefit it. Companies such as HelpSystems provide managed file transfer solutions in addition to GDPR compliance. Over the forecast period, this is expected to contribute to an increase in demand for managed file transfer.
China and Japan are providing the market with lucrative growth opportunities. East Asia's IT and telecom sectors are expanding rapidly as the number of Tier II and Tier III solution providers increase. This creates an ideal environment for market expansion.
The expansion of China's cloud computing market remains to be a key growth driver. With China's cloud infrastructure expected to grow at an exponential rate, demand for MFT solutions and services is anticipated to rise as well. The MFT market in China is anticipated to expand at a CAGR of 11.7% over the forecast period.
According to the& olution, the market is divided into two parts: software and services. The managed file transfer software segment dominated the market in terms of value, accounting for nearly 75.9% of the total market value share by the end of 2022.
There were several types of managed file transfer software in the software segment, including system-centric file transfer, people-centric file transfer, and extreme file transfer.
The market is divided into industries such as IT & Telecom, BFSI, healthcare, retail, media & entertainment, manufacturing, and others. The global managed file transfer market is dominated by the BFSI industry, which was expected to account for 28% of total market value by the end of 2022.
Because of the growing demand for improved safety and security in banking and financial transactions, the BFSI segment is expected to remain a key end user in the global MFT software & services market.
Top players in the managed file transfer solution industry employ a novel product introduction as a key strategy. They intend to boost their business revenue by doing so. To increase their market share, managed file transfer solution providers are focusing on product/service innovation.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.1% from 2023 to 2033 |
| Market Value in 2023 | USD 2 billion |
| Market Value in 2033 | USD 5.3 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered | Solution, Industry, Region |
| Key Companies Profiled | Axway Inc.; GlobalSCAPE, Inc.; IBM Corporation; Micro Focus; Software AG; Oracle Corporation; Wipro Limited; Signiant Inc.; OpenText Corporation; CA Technologies Inc. |
| Customization & Pricing | Available upon Request |
The managed file transfer (MFT) market CAGR for 2033 is 10.1%.
The market is estimated to secure a valuation of USD 2 billion in 2023.
The projected market value of the market for 2033 is USD 5.3 billion.
Key players are developing the market by introducing new technologies.
IBM, Oracle, and OpenText are the key companies in this market.
1. Executive Summary | Managed File Transfer (MFT) Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Solution 5.1. Software 5.2. System-centric File Transfer 5.3. People-centric File Transfer 5.4. Extreme File Transfer 5.5. Services 5.6. Implementation & Integration 5.7. Consulting 5.8. Support & Maintenance 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 6.1. BFSI 6.2. Media & Entertainment 6.3. Retail 6.4. Manufacturing 6.5. Telecommunication 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. South Asia 7.5. East Asia 7.6. Oceania 7.7. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Axway Inc. 17.2. GlobalSCAPE, Inc. 17.3. IBM Corporation 17.4. Micro Focus 17.5. Software AG 17.6. Oracle Corporation 17.7. Wipro Limited 17.8. Signiant Inc. 17.9. OpenText Corporation 17.10. CA Technologies Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Managed File Transfer (MFT) Market
