The global managed file transfer (MFT) market is expected to be worth $2 billion by 2023. The market is expected to reach US$ 5.3 billion by 2033, growing at a CAGR of 10.1% between 2023 and 2033.
This method is regarded as a transparent data exchange method with additional capabilities such as tracking and monitoring. It is rapid, secure, and dependable. Users can use the technology to detect data loss over a certain time period and to be notified whether a file transfer is successful.
As a result of digitization, businesses are increasingly reliant on the successful transfer of digital files containing critical information. To sustain the efficiency of the real-time business process, they require safe, dependable, and quick transmissions. As a result, there has been an increase in the demand for efficient and effective file transfer in recent years.
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According to the most recent Future Market Insights (FMI) analysis, the global managed file transfer (MFT) market is expected to develop at a constant CAGR of around 10.1% between 2023 and 2033. As long as the BFSI industry shows a significant desire for low-cost file transfer solutions, it will become an important end user.
Key Takeaways from Market Study
- Rising demand for seamless file transfer between or within organizations will enable growth in the managed file transfer market at a 10.1% CAGR between 2023 and 2033
- The market in the U.S. is projected to expand at a CAGR of 10.1% through 2031, emerging dominant in North America
- Germany will emerge as a key market for MFT, accounting for over one-fourth of demand registered in Europe
- China and Japan will emerge as key markets within East Asia. While China is expected to account for a higher share, Japan will exhibit growth at a higher pace
- Rapid digitization will enable double-digit growth in India, pushing the expansion of the market in South Asia
Impact of COVID-19 on Managed File Transfer Market
The COVID-19 epidemic has wreaked havoc on a number of businesses, including controlled file transmission. Many business and government organisations have made the switch to remote working, resulting in an increase in demand for controlled file transfer solutions.
The managed file transfer industry is expected to rise by 1.6X from 2019 to 2020, with a spike in demand due to the COVID-19 epidemic and the shift to a remote workforce. The change to remote working has resulted in a surge in demand for secure managed file transfer (MFT), managed file transfer cloud services, and remote management of secure file transfers for critical projects.
Automation in Enterprise Workflow Management Driving Market
Enterprises across various industry verticals are increasingly focusing on deploying managed file transfer software for creating automating enterprise workflow management. The application of managed file transfer solutions includes the generation of event-driven automation for performing specified tasks, which are generated on the enterprise domain, users, group level, or server level.
Enterprises are also using managed file transfer for automating different tasks such as assigning the expiration dates to files, scheduling file transfers, and other functions for deleting files, transferring and storing files, initiating event-driven actions, and sending notifications based on defined activities.
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Market Segmentation by Category
Solution
- Software
- System-centric File Transfer
- People-centric File Transfer
- Extreme File Transfer
- Services
- Implementation & Integration
- Consulting
- Support & Maintenance
Industry
- BFSI
- Media & Entertainment
- Retail
- Manufacturing
- Telecommunication
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Table of Content
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
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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